A type of deposit product that banks will encourage the customer to purchase whose primary goal...

A type of deposit product that banks will encourage the customer to purchase whose primary goal is to save rather than make payments is:

Checking account.
Non-interest bearing deposit.
Non-transaction deposit.
Either (a) or (b).

Solutions

Expert Solution

Ans : Checking Account : Checking Account also called as transaction account are bank accounts for everyday money transactions.Account holders can use debit cards or checks or online transfers to make purchases or pay bills. They are allowed to withdraw the amount any time

Non-interest bearing deposit : They are checking account which does not earn interest on the money in the account. They have low requirements for maintennance i.e. limited or no fees. It is often used as basic or starter checking account.

Non-Transaction Deposit : These are deposits accounts which are subject to restrictions on the capability of the account holder to withdraw the amount from the account. Such restrictions include transaction limitations and/or transaction fees which prevent them from being used as transaction account. It includes time deposits and savings deposits.

Ans : A type of deposit product that banks will encourage the customer to purchase whose primary goal is to save rather than make payments is : c) Non-transaction deposit

jeff jeffy answered 1 year ago

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