John has two ATM transactions but only one of them has a fee (Interac). Why? Interac is an out-of-network ATM and First Bank charges customers if they use out-of-network ATMs. First Bank charges customers for using their ATMs. O Banks charge fees if you take out less than $100 at an ATM machine. O The first ATM transaction is free but all additional ATM transactions have a fee.
John has two ATM transactions but only one of them has a fee (Interac). Why? Interac is an out-of-network ATM and First Bank charges customers if they use out-of-network ATMs. First Bank charges customers for using their ATMs. O Banks charge fees if you take out less than $100 at an ATM machine. O The first ATM transaction is free but all additional ATM transactions have a fee.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Transcribed Image Text:John has two ATM transactions but only one of them has a fee
(Interac). Why?
Interac is an out-of-network ATM and First Bank charges customers if
they use out-of-network ATMs.
First Bank charges customers for using their ATMs.
Banks charge fees you take out less than $100 at an ATM machine.
O The first ATM transaction is free but all additional ATM transactions
have a fee.
Transcribed Image Text:$
FIRST BANK OF WIKI
1425 JAMES ST, PO BOX 4000
VICTORIA BC V8X 3X4 1-800-555-5555
JOHN JONES
1643 DUNDAS ST W APT 27
TORONTO ON M6K 1V2
Date
2003-10-08 Previous balance
2003-10-14 Payroll Deposit - HOTEL
2003-10-14 Web Bill Payment - MASTERCARD
2003-10-16 ATM Withdrawal - INTERAC
2003-10-16
Fees - Interac
2003-10-20
2003-10-21
2003-10-22
2003-10-23
Description
Interac Purchase - ELECTRONICS
Web Bill Payment - AMEX
ATM Withdrawal - FIRST BANK
Interac Purchase - SUPERMARKET
Interac Refund - ELECTRONICS
2003-10-24
2003-10-27
Telephone Bill Payment - VISA
2003-10-28
Payroll Deposit - HOTEL
2003-10-30 Web Funds Transfer - From SAVINGS
2003-11-03 Pre-Auth. Payment - INSURANCE
2003-11-03
Cheque No.-409
2003-11-06
Mortgage Payment
Fees-Overdraft
2003-11-07
2003-11-08
Fees - Monthly
*** Totals ***
9685
3990
Ref. Withdrawals
1975
3314
0064
1559
1975
2475
CHEQUING ACCOUNT STATEMENT
Page: 1 of 1
2620
Statement period
2003-10-09 to 2003-11-08
200.00
21.25
1.50
2.99
300.00
100.00
29.08
6.77
33.55
100.00
710.49
5.00
5.00
1,515.63
Deposits
694.81
2.99
694.81
50.00
1,442.61
Account No.
00005-
123-456-7
Balance
0.55
695.36
495.36
474.11
472.61
469.62
169.62
69.62
40.54
43.53
36.76
731.57
781.57
748.02
648.02
-62.47
-67.47
-72.47
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