Business, 10.03.2020 17:36 nataoli3375

What kinds of fees and penalties can be levied on savings accounts? As with checking accounts, savings accounts are subject to fees and penalties. Among the fees and penalties that may be assessed on time deposits are early and excessive withdrawal penalties, a deposit penalty, an inactive account fee, an early account closing fee, and a delayed use "cost" of funds

Read the following descriptions and identify the fee or penalty that corresponds to each description

This fee is levied when accounts remain idle, with no deposits or withdrawals, for specifiec periods such as six months or a year. It is usually referred to as arn fee

This penalty, which is called results when deposits are made during one quarter and do not begin to earn interest until the beginning of the next quarter.

Some saving accounts are assessed this fee if the number of withdrawals made per month exceeds a specified number.

This penalty, which is called an penalty, is incurred when amounts withdrawn prior to the end of a quarter do not earn interest during that quarter.

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What kinds of fees and penalties can be levied on savings accounts? As with checking accounts, savin...