Question

Question 9

5 p
(02.02 LC)
Which of the following is a characteristic of a checking account?
Easy access to funds through a debit card
Fee charged if money is removed early
High rate of return on deposits
Minimum money amount requirement to invest

Answer 1

Easy access to funds through a debit card

Step-by-step explanation:

A checking account is an account that individuals open at a bank or a financial institution to withdraw and deposit money. It is also referred to as a demand account. The salient feature with a checking account is that it is very liquid. It permits users a quick way of accessing their money.

A checking account can be accessed using ATMs, electronic cards, and checks. The checking account allows users to deposit and withdraw money multiple times without attracting charges.