Strategy Beginner: Choosing a Savings or Checking Account

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1.
An online-only financial institution does not have a physical location.
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True. This type of financial institution is found only on the Internet.
2.
In return for getting earnings, a checking account will typically _______.
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Both of the above. This is to ensure that your funds stay available for the financial institution to use.
3.
_______ financial institutions allow minors to hold checking accounts.
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Many. Not all institutions allow them.
4.
When evaluating fees at a bank or credit union, what is perhaps the most helpful question to ask yourself?
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Am I getting what I need from my bank or credit union in return for these fees? Not everyone thinks fees are too high; therefore, determine whether you are getting your money's worth.
5.
What type of earnings are paid on credit union savings accounts?
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Dividends. While banks pay interest, credit unions pay dividends.