All of the following statements about bank accounts are true EXCEPT…

Question

Responses

If the bank is FDIC-insured, your money, up to the FDIC limit, is safe even if the bank fails
If the bank is FDIC-insured, your money, up to the FDIC limit, is safe even if the bank fails

Many banks pay interest on the money you deposit into your savings account
Many banks pay interest on the money you deposit into your savings account

Historically, savings accounts earn higher returns than investments in the stock market
Historically, savings accounts earn higher returns than investments in the stock market

Money in a checking account is usually easy to access via ATM, debit card or check

Answer 1

The statement that is NOT true is:

"Historically, savings accounts earn higher returns than investments in the stock market."

In general, investments in the stock market have provided higher returns over the long term compared to the interest earned on savings accounts, which typically offer lower interest rates.