Question

Which describes the purpose of minimum-balance fees?

O make sure customers keep sufficient funds in their account
collect funds for withdrawals from a competitor's machine
pay for the costs of having bank employees
penalize customers for writing checks for money they don't have

Answer 1

make sure customers keep sufficient funds in their account

Step-by-step explanation:

Minimum balance is the amount that an account holder has to be kept in the account. The minimum amount is to be maintained so as to enjoy the benefits of the account like receiving interests. The minimum balance defers from one bank to another. Maintaining the minimum helps in accessing loans and other facilities.