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LET’S PRACTICE
Name: _____________________________________________________________________________
says NSF fees . What happened? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 5. Suggest 3 things Eloise can do to keep track of her balance and avoid account fees . _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 6. Eloise has a start up fashion marketing business. Some of her clients want to pay with a credit card. What type of business account will enable her to accept credit cards ? _ ______________________________________________________________________________ 7. Eloise has saved quite a bit of money. She’d like to earn more interest on it than the standard savings account rate. She does not mind limiting access to the funds for an extended period, in exchange for a higher rate. What consumer financial product might she consider? _ ______________________________________________________________________________ 8. Is there any type of hybrid checking and savings account that will earn her a higher rate of interest, yet allow limited monthly withdrawals? How is it abbreviated? _ ______________________________________________________________________________ 9. Eloise’s husband, Gunnar, is a citizen of Sweden. He does not have U.S. citizenship and he doesn’t have a Social Security number. He does have a Swedish passport, U.S. taxpayer identification number, and a driver’s license. Can he open an account with the bank? _ ______________________________________________________________________________ _ ______________________________________________________________________________ 10. When Eloise and Gunnar returned home from their fairy-tale wedding in Sweden, they had a problem. As a wedding present, Gunnar’s practical relatives had given them cash. They don’t know what to do with the Swedish krona. They can’t spend them in the U.S. They put the krona in a drawer and forget about them. Where can they exchange krona for dollars ? _ ______________________________________________________________________________ _ ______________________________________________________________________________ PRODUCT PREVIEW
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Chapter 2 | Battler of the Banks
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