Select the correct answer.

Question

Why is it important to carefully read and understand a financial institution’s policies when opening a savings account?
A.
It helps you calculate how much money you can have in your account.
B.
It helps you understand how money transfers work.
C.
It helps you identify any hidden fees or penalties associated with withdrawals and transfers.
D.
It helps you determine potential investment tools for retirement plans.
E.
It helps you determine the maturity date associated with your basic savings account.

Answer 1

C. It helps you identify any hidden fees or penalties associated with withdrawals and transfers.