Answer :
With a traditional savings account, you could be charged a fee if B. you withdraw money too often. Usually, there is a daily limit to how much money you can withdraw and how many times. If you go over that limited number, you may be charged an additional sum of money as a form of a penalty. So try not to do this unless you want to waste more money.
Option b is the correct answer.
In the case of traditional saving account, you could be charged a fee if you withdraw money too often.
Further Explanation:
Saving Account: A savings account refers to a deposit account opened at a financial institution or bank that gives a modest rate of interest on the amount deposited in the account. They are different from checking account because there are restrictions on the number of withdrawal and transaction that can be done from a saving account.
The fee chargeable in case of traditional saving account:
The bank charges maintenance fee on saving account. No fee is charged when an account is opened online, an account is closed, or too much money is deposited at once in the account. The fee is also charged when the number of transactions exceeds the limit put by the bank.
Therefore, option b is correct.
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Answer details:
Grade: High School
Subject: Business studies
Chapter: Money and Banking
Keywords: Savings account, the fee charged, bank account, open an account, close an account, withdraw of money, the deposit of money, online account, rate of interest, banking, maintenance fee, opening an online account, excess withdrawal, too much deposit of money, bank fee, fee on saving account.