Which of the following statements regarding the cost of a checking account is true?
A) Most banks and other depository institutions allow unlimited free check-writing privileges.
B) Most banks charge a fee when a checking account balance drops below a required minimum.
C) Most banks use the daily balance in an account to determine whether to levy a service charge.
D) The average charge of a returned check is between $35 and $50.
E) Most banks do not charge for using the automated teller machine (ATM) of another bank that is not a member of the same network.
Correct Answer:
Verified
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