Service charges represent fees that banks pay you for keeping your money on deposit at their institution.

Name: Service charges represent fees that banks pay you for keeping your money on deposit at their institution.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Service charges are fees that banks charge their customers for certain services, such as account maintenance or transactions. Banks do not pay their customers for keeping their money on deposit, so the statement is false.

Service Charges Represent Fees That Banks Pay You for Keeping