Credit Card and Bank Essay Example
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)
The name i\of the bank I chose is SunTrust.
b. List three facts about savings account options at the bank or credit union you chose. (3 sentences. 1.0 points) * In order to avoid a monthly maintenance fee, either have a minimum $5 automatically transferred monthly from a checking account or maintain
$300 in savings account at all times * Can access the account anytime with MasterCard check card * Is FDIC insured up to the maximum allowed by law
c. List three facts about checking account options at the bank or credit union you chose. (3 sentences. 1.0 points)
* Unlimited Check Card usage * 30 pack of SunTrust exclusive checks * Combined statements
c. Does this bank or credit union offer online banking? (0.5 points) SunTrust does offer online banking.
d. 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) I would most likely choose this bank because my mother uses it and she is satisfied with the services she gets. I don’t think I would use it as a savings account option though because of having to maintain $300 in the account at all times. I like being able to access the bank online and can use the check card everywhere. I also like the fact that I would be able to receive 300 checks.
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
(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)
The name i\of the bank I chose is SunTrust.
b. List three facts about savings account options at the bank or credit union you chose. (3 sentences. 1.0 points) * In order to avoid a monthly maintenance fee, either have a minimum $5 automatically transferred monthly from a checking account or maintain
$300 in savings account at all times * Can access the account anytime with MasterCard check card * Is FDIC insured up to the maximum allowed by law
c. List three facts about checking account options at the bank or credit union you chose. (3 sentences. 1.0 points)
* Unlimited Check Card usage * 30 pack of SunTrust exclusive checks * Combined statements
c. Does this bank or credit union offer online banking? (0.5 points) SunTrust does offer online banking.
d. 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) I would most likely choose this bank because my mother uses it and she is satisfied with the services she gets. I don’t think I would use it as a savings account option though because of having to maintain $300 in the account at all times. I like being able to access the bank online and can use the check card everywhere. I also like the fact that I would be able to receive 300 checks.
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