Owners cannot write checks on nontransaction deposits,but the interest rate paid on these deposits are usually higher than those on checkable deposits.

Name: Owners cannot write checks on nontransaction deposits,but the interest rate paid on these deposits are usually higher than those on checkable deposits.
Brand: Quizplus
Rating: 4.9 (52 reviews)

Question

Quizplus · Accepted Answer

This is true. Nontransaction deposits, such as savings accounts, do not allow for check writing, but they often have higher interest rates than checking accounts.

Owners Cannot Write Checks on Nontransaction Deposits,but the Interest Rate