QAEconomics › Which of the following fees would likely be the highest?
Q

Which of the following fees would likely be the highest?

A. Overdraft fee

B. Account transfer fee

C. Monthly service fee

D. ATM fee

A

Answer: A. Overdraft fee

An overdraft fee is a fee charged when you withdraw more money in your account than the amount you have in it. An overdraft fee is one of, if not the most expensive fees charged by financial institutions. As a matter of fact, the overdraft fee industry is now an industry worth roughly $33 billion. When a payment has been authorized but you do not have enough money in your account, your bank may complete the transaction with an attached fee.

7 months ago
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