help please,i need to interview 2 banks for homework ,about their checking and savings account?

Question

i need to interview 2 banks about their checking accounts and savings account .i need to write a short essay on why i prefer one banks account to the other.
have you ever been a member for diffrent banks your information will help me so much,thankyou

Answer 1

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THUNDERBOLT CHECKING

Basic Interest Checking: Initial Minimum Deposit : $500
Daily Balance $0-$499 $500-$1,999 $2,000 or over
APY6 0.15% 1.00% 1.25%

* ATM Surcharge Reimbursements (up to $7.50 per statement cycle)
* Online Bill Pay - FREE
* Unlimited Check Writing - first order of checks FREE
* Online Check Images
* ATM/Debit Card Issued with Every Account1
* Overdraft Protection Available (with approved credit)
* Interest Posting-Interest will be credited to your account on the 5th of each month.
* Online Statements – Check your balance or review your account activity 24 hours a day (up to 12 months of history)2
* Download account history into Quicken® or Microsoft® Money
* Monthly Service Fee Waived with:4
o Recurring Direct Deposit; or
o Minimum Daily Balance of $500 or more; or
o An existing Home Equity Loan with UmbrellaBank
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Comparing these 2 Banks, the 2nd
one offers a better deal because that Bank pays interest on your account......the 1st one doesn't !!!

Answer 2

If I am reading correctly, then you are going to go into 2 banks and interview someone there about their checking and savings accounts. So you'll want to know what kinds of questions to ask them and you'll need to know the difference between the two.

First thing is to know the difference between a savings account and a checking account.

Then, come up with a list of interview questions: here are a few to get you started:
a. Does either account gain interest? If so, what's the interest rate?
**(Interest refers to an amount of money the bank giving you for keeping your money in their bank. The number is a percentage of the total amount you have. The higher the percentage the better). So if bank 1 offers 7% interest and bank 2 only 5%, bank 1 might be better. If bank 1 offers interest on BOTH checking and savings, but bank 2 offers only for savings, then bank 1 might be better

b. Is there a monthly or yearly fee for having a checking or savings account with their bank? You don't want to have to pay a fee.

c. Is there a minimum balance for the account?
**Some banks require that you keep $500 in the account or they charge you a fee. You don't want that either.

d. What is the charge for an overdraft fee? Do they offer overdraft protection?
**This means that, if you take more money out of your account than you actually had in the account, they will charge you a fee. Some banks offer overdraft protection for a small fee, which protects you from receiving big charges if you bounce a bunch of checks.

e. Do they offer free checks or do you have to pay for them? How much are they?
**Most banks charge you for checks, but they might charge different amounts.

f. Do they offer online bill pay and online banking?
**Lots of people like to pay their bills online and check their accounts online.

Answer 3

A checking account is very different from a savings account in that a checking account is a good way of monitoring your daily disbursements if you engaged in business A savings account will give you a monthly interest on your average daily balance If you are a businessman it's very convenient to have a checking account because all your payments will be disbursed through checks.