Personal Finance: Banking Assignment
Assignment 3: Banking
(16.0 points)
1. Visit the website of a large national bank, regional bank, or credit union, and use the information you find there to answer the questions below. EXAMPLE: Some large banks you might consider include Bank of America®, JPMorgan Chase®, Wells Fargo®, Citibank®, and U.S. Bank®.
a. What is the name of the bank or credit union? (0.5 points)
Bank of America
b. List three facts about savings account options at the bank or credit union you chose. (3 sentences. 1.0 points)
Regular Savings is for a standard savings account, it’s good if you’re just starting a savings account. Personal Savings is if you want to earn more interest with your balance amount.
A custodial savings is if you want to begin saving for your child’s future.
c. List three facts about checking account options at the bank or credit union you chose. (3 sentences. 1.0 points)
You can have a debit card with your checking account!
You can also view your account balance online!
And you can also do direct transfer!
Along with paperless statements!
d. Does this bank or credit union offer online banking? (0.5 points) Yes it does!
e. Would you be likely to choose this as your bank or credit union? Why or why not? List at least two reasons for or against choosing this bank or credit union. (3-6 sentences. 2.0 points)
I would choose this bank, simply because it has a high security and many varieties of different kinds of accounts. This bank seems like a bank for me, with the easy sign-up and different options you have. Bank of America is a popular bank, and very helpful. The only kind of account I would possibly have would be a savings account.
2. Visit the website of a second large national bank, regional bank, or credit union, and use the information you find there to answer the questions below.
a. What is the name of the bank or credit union? (0.5 points)
Well’s Fargo!
b. List
(16.0 points)
1. Visit the website of a large national bank, regional bank, or credit union, and use the information you find there to answer the questions below. EXAMPLE: Some large banks you might consider include Bank of America®, JPMorgan Chase®, Wells Fargo®, Citibank®, and U.S. Bank®.
a. What is the name of the bank or credit union? (0.5 points)
Bank of America
b. List three facts about savings account options at the bank or credit union you chose. (3 sentences. 1.0 points)
Regular Savings is for a standard savings account, it’s good if you’re just starting a savings account. Personal Savings is if you want to earn more interest with your balance amount.
A custodial savings is if you want to begin saving for your child’s future.
c. List three facts about checking account options at the bank or credit union you chose. (3 sentences. 1.0 points)
You can have a debit card with your checking account!
You can also view your account balance online!
And you can also do direct transfer!
Along with paperless statements!
d. Does this bank or credit union offer online banking? (0.5 points) Yes it does!
e. Would you be likely to choose this as your bank or credit union? Why or why not? List at least two reasons for or against choosing this bank or credit union. (3-6 sentences. 2.0 points)
I would choose this bank, simply because it has a high security and many varieties of different kinds of accounts. This bank seems like a bank for me, with the easy sign-up and different options you have. Bank of America is a popular bank, and very helpful. The only kind of account I would possibly have would be a savings account.
2. Visit the website of a second large national bank, regional bank, or credit union, and use the information you find there to answer the questions below.
a. What is the name of the bank or credit union? (0.5 points)
Well’s Fargo!
b. List