Answer:
Bank A charges a monthly service fee to its customers. This fee is a regular charge imposed by the bank for maintaining and providing various banking services to its customers. The specific amount of the monthly service fee may vary depending on the bank's policies and the type of account held by the customer.
The purpose of the monthly service fee is to cover the costs associated with operating and maintaining the bank's infrastructure, such as staffing, technology, and overhead expenses. It helps the bank generate revenue and ensure the sustainability of its services.
It's important to note that not all banks charge a monthly service fee, and the fee structure may differ between banks. Some banks may offer fee waivers or reduced fees based on factors like minimum balance requirements, account type, or customer relationship. It is advisable to review the terms and conditions of your specific bank account or contact your bank directly to understand the details of any monthly service fee that may be applicable.
Explanation: Hoping this helps.