Bank and Credit Union
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 dollar fee to open an account
They have overdraft protection
Balances are FDIC insured up to certain limits
c. List three facts about checking account options at the bank or credit union you chose. (3 sentences. 1.0 points)
Savings account interest rates start at 0.5%
You need at least $25 to open one.
Bank of America is highly rated for investment purposes with their growth maximize account d. Does this bank or credit union offer online banking? (0.5 points)
Yes, they have an online banking
e. Would you be likely to choose this as your bank or credit union? Why or why not? List at least two reasons for or against choosing this bank or credit union. (3-6 sentences. 2.0 points)
Yes I would likely choose this as my bank or credit union because it looks like your money is very safe and I can trust the bank. They have a lot of saving options and lots of different options for banking in general.
2. Visit the website of a second large national bank, regional bank, or credit union, and use the information you find there to answer the questions below.
a. What is the name of the bank or credit union? (0.5 points)
Wells Fargo
b. List three differences you found between the accounts and features this bank or credit union offers and the bank from question 1 above. (1-3 sentences. 1.0 points)
Wells Fargo can enroll in checking accounts give gift cards and their smart rating is 98. Bank of America can make deposits into your personal cash accounts, they do
(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 dollar fee to open an account
They have overdraft protection
Balances are FDIC insured up to certain limits
c. List three facts about checking account options at the bank or credit union you chose. (3 sentences. 1.0 points)
Savings account interest rates start at 0.5%
You need at least $25 to open one.
Bank of America is highly rated for investment purposes with their growth maximize account d. Does this bank or credit union offer online banking? (0.5 points)
Yes, they have an online banking
e. Would you be likely to choose this as your bank or credit union? Why or why not? List at least two reasons for or against choosing this bank or credit union. (3-6 sentences. 2.0 points)
Yes I would likely choose this as my bank or credit union because it looks like your money is very safe and I can trust the bank. They have a lot of saving options and lots of different options for banking in general.
2. Visit the website of a second large national bank, regional bank, or credit union, and use the information you find there to answer the questions below.
a. What is the name of the bank or credit union? (0.5 points)
Wells Fargo
b. List three differences you found between the accounts and features this bank or credit union offers and the bank from question 1 above. (1-3 sentences. 1.0 points)
Wells Fargo can enroll in checking accounts give gift cards and their smart rating is 98. Bank of America can make deposits into your personal cash accounts, they do