Which of the following statements is true regarding interest-bearing checking accounts?
A)There are no penalties for overdrawing your account.
B)To have interest paid on your balance,oftentimes you must meet certain requirements,such as maintaining a high minimum balance,having your paycheck directly deposited into your account,and using your debit card as a credit card a minimum number of times per month.
C)There is no monthly service charge or per-item fee regardless of your balance.
D)You are limited to the number of checks or ATM transactions per month.

Question

Quizplus · Accepted Answer

Interest-bearing checking accounts typically come with certain requirements in order to earn interest on your balance, such as maintaining a minimum balance or using your debit card a certain number of times per month. There may also be penalties for overdrawing the account. However, the account may not have a monthly service charge or per-item fee, and there may be a limit on the number of checks or ATM transactions per month.

Which of the Following Statements Is True Regarding Interest-Bearing Checking