Assignment 3 Essay examples

690 Words May 21st, 2013 3 Pages
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) • There is a $25 fee to open the account. • They have overdraft protection • Balances are FDIC insured up to certain limits c. List three facts about
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Which of the two banks or credit unions that you researched would you be most likely to choose to open an account with? Why? (2-4 sentences. 2.5 points) • I would probably stick with bank of America because it seems cheapest and safe.
3. What type of bank risk would worry you the most as an account holder? How should the bank protect itself against that risk? (2-4 sentences. 1.0 points) • You have to worry about your money being stolen • You have to worry the bank barrowing your money

You should talk to the bank about how safe your money is and the access you have to it at all times. Also you should talk to them about who would be able to see and get a hold of your money. 4. If you had a bank account, which two methods of completing transactions do you think you would use most frequently? Why? (2-4 sentences. 1.0 points)

• Withdrawals and transactions.

5. In your Section_3 folder, navigate to and open the Example_Check_Register and Example_Bank_Statement, and then answer the questions below. I don’t know where to find those papers?? a. According to the bank statement, how many checks were written from this account during the statement period? (0.5 points) b. There are two differences between the bank statement and the check register. Describe each of them. (2-4 sentences. 1.0 points) TIP: These are transactions that Jessie

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