Question

Which account is best for a customer who wants to pay bills and manage household cash flow while minimizing fees? a) Savings Account b) Certificate of Deposit (CD) c) Checking Account d) Individual Retirement Account (IRA)

Answer 1

A Checking Account is ideal for managing household cash flow and bill payments while minimizing fees, due to its flexibility and easy access to funds.

Step-by-step explanation:

If a customer wants to manage household cash flow while minimizing fees, the best option would be a Checking Account. A checking account facilitates transactions and provides easy access to your money either by writing a check or using a debit card. Unlike a savings account or a certificate of deposit (CD), which pay some interest but require a visit to the bank or ATM for accessing funds, a checking account, especially one without minimum balance requirements, can offer the flexibility needed for regular, daily transactions like bill payments.

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