1. Which are two advantages of having an account at a local community bank versus a national bank?

Question

A. Community banks are typically larger and more well-known than national banks

B. Community banks typically have LOWER fees and charges when compared to a national bank

C. Community banks typically have HIGHER fees and charges when compared to a national bank

D. Community banks typically give back and support the local community.

2. True or False: When you deposit your money at a community or online bank, your money is insured by the FDIC up to $250,000

A True

B. False

3. What questions should you ask before opening an account at a national bank, community bank, or credit union? (choose all correct answers)

A. What type of fees are there with this account?

B. Is there a fee for using an ATM? If so, how much?

C. Is there a minimum balance requirement with this account?

D. Do you offer online banking or mobile banking?

Answer 1

1. The two advantages of having an account at a local community bank versus a national bank are:

B. Community banks typically have LOWER fees and charges when compared to a national bank.

D. Community banks typically give back and support the local community.

2. True or False: When you deposit your money at a community or online bank, your money is insured by the FDIC up to $250,000.

A True

3. What questions should you ask before opening an account at a national bank, community bank, or credit union? (choose all correct answers):

A. What type of fees are there with this account?

B. Is there a fee for using an ATM? If so, how much?

C. Is there a minimum balance requirement with this account?

D. Do you offer online banking or mobile banking?

(All the options A, B, C, and D are correct answers.)