Which of the following statements are true regarding interest-bearing checking accounts?
A) There are no penalties for overdrawing your account
B) To have interest paid on your balance,oftentimes you must meet certain requirements such as maintaining a high minimum balance,having your paycheck directly deposited into your account,and using your debit card as a credit card a minimum number of times per month
C) There is no monthly service charge or per-item fee regardless of your balance
D) You are limited to the number of checks or ATM transactions per month

Question

Quizplus · Accepted Answer

Interest-bearing checking accounts often require customers to meet certain requirements, such as maintaining a high minimum balance, using their debit card as a credit card a minimum number of times per month, and having their paycheck directly deposited into the account in order to receive interest on their balance. The other statements (A, C, and D) are false.

Which of the Following Statements Are True Regarding Interest-Bearing Checking