Which of the following statements about an online savings account is true?

A. It offers lower interest rates because it costs more money to maintain the online site.
B. It works nothing like a basic bank savings account.
C. It offers higher interest rates because they don't have the overhead that standard banks have.
D. It has more restrictions on how often withdrawals can be made and typically requires a minimum balance.

Question

10-07-2024
Business

Answered

Welcome to Westonci.ca, the ultimate question and answer platform. Get expert answers to your questions quickly and accurately. Get immediate answers to your questions from a wide network of experienced professionals on our Q&A platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

Which of the following statements about an online savings account is true?

A. It offers lower interest rates because it costs more money to maintain the online site.
B. It works nothing like a basic bank savings account.
C. It offers higher interest rates because they don't have the overhead that standard banks have.
D. It has more restrictions on how often withdrawals can be made and typically requires a minimum balance.

Sagot :

Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.

In the United States Bill of Rights, the first amendment prohibits congress from abridging the freedom of speech. This protection allows citizens to criticize t

Question 7 of 10Which of the following best describes the purpose of using cost-benefitanalysis?A. To produce a spreadsheet predicting costs.B. To know the high

9. True/False (1 point)Entities that transport PHI, but do not access, use, or disclose the information are business associates.A.BTrueFalse

The average rainfall amounts for two of the world's wettest places are given. Determine which location has the greater average rainfall and by how many inches.

Which of the following functions of money enables society to gain the benefits of geographic andlabor specialization?medium of deferred paymentunit of accountst

The age of petrochemicals started shortly after World War II. During the war, the United States did not have enough rubber. To solve this problem, scientists cr

Sita said to Ravan I will go to market with you Narration change

Consider the following 2-person zero-sum games' payoff matrix. Do they have an optimal pure strategy pair? If yes, identify the optimal pure strategies for each

Find the net price. 10% discount on $20

Graffiti art on box cars dates back to which decade?O 1920'sO 1800'sO 1960'sO 1990'sO None of the aboveO All of the above

GinnyAnswer GinnyAnswer · Answer 1 · 2024-07-10T21:13:57-04:00

Final answer:

Online savings accounts offer higher interest rates due to lower overhead costs and have restrictions on withdrawals.

Explanation:

Online savings accounts typically offer higher interest rates compared to standard bank savings accounts due to lower overhead costs. They often have more restrictions on withdrawals and may require a minimum balance to be maintained. This type of account functions differently from basic bank savings accounts as it operates primarily online.

Learn more about Online savings accounts here:

https://brainly.com/question/18395733

Sagot :

Final answer:

Explanation:

Learn more about Online savings accounts here:

Other Questions