Question

The application will allow the user to perform various banking operations such as deposit and withdrawal of money from the bank account. The bank offers two types of accounts: savings account and chequing account. To test your app, you will consider that the bank consists of predefined list of accounts which are provided to you in the start-up code. Please find the details for the task below.

Consumer class:
This class will represent following consumer information. Both the field variables will have public getter.
string Id-consumer ID e.g., S102
string Name-name of the consumer
Constructor: Create parameterized constructor to accept two parameters for both the field variables:
Methods:
•ToString(): Create ToString() function to return a string containing values of field variables._____

Answer 1

A checking account facilitates transactions by giving easy access to money through checks or debit cards, while a savings account typically pays interest but requires a trip to the bank or ATM to access the funds.

Step-by-step explanation:

Banks offer a range of accounts to serve different needs. A checking account typically pays little or no interest, but it facilitates transactions by giving you easy access to your money, either by writing a check or by using a debit card (that is, a card which works like a credit card, except that purchases are immediately deducted from your checking account rather than billed separately through a credit card company).

A savings account typically pays some interest rate, but getting the money typically requires you to make a trip to the bank or an automatic teller machine (or you can access the funds electronically).

The lines between checking and savings accounts have blurred in the last couple of decades, as many banks offer checking accounts that will pay an interest rate similar to a savings account if you keep a certain minimum amount in the account, or conversely, offer savings accounts that allow you to write at least a few checks per month.