Which statement best describes a characteristic of a regular savings account?

A. Regular savings accounts are exactly like checking accounts but with higher interest rates (my answer)

B. Regular savings account allow for more withdrawals and flexibility than money market accounts and CDs

C. Regular savings accounts feature withdrawal minimums that are less than the account balance

D. Regular savings accounts have a predetermined time limit before a withdrawal can be made

Question

Mathematics

Alfred Hammond

23 January, 22:27

Which statement best describes a characteristic of a regular savings account?

A. Regular savings accounts are exactly like checking accounts but with higher interest rates (my answer)

B. Regular savings account allow for more withdrawals and flexibility than money market accounts and CDs

C. Regular savings accounts feature withdrawal minimums that are less than the account balance

D. Regular savings accounts have a predetermined time limit before a withdrawal can be made

+4

Answers (2)

Know the Answer?

Sergio Gillespie · Answer 1

D.

Savings accounts limit the number of withdrawals you can make within a time frame

Krueger · Answer 2

D. Regular savings accounts have a predetermined time limit before a withdrawal can be made.

Step-by-step explanation:

The correct answer is - D. Regular savings accounts have a predetermined time limit before a withdrawal can be made.

There is a set limit of usually 6 withdrawals in a month. The limit is six withdrawals per month. If a person exceeds this limit occasionally, his bank may decline the excess transactions or sometimes charge a fee for that transaction.