Consumers, community activists, and politicians are decrying the new line of acc

timer Asked: Mar 2nd, 2015

Question description

Consumers, community activists, and politicians are decrying the new line of accounts because several include a $3 service charge for some customers who use bank tellers for transactions that can be done through an automated teller machine. Bill Wade banks at a local bank that charges this fee. He was having difficulty balancing his check book because he did not notice this fee on his bank statement. His bank statement showed a balance of $822.18. Bill's checkbook had a balance of $206.48. Check No. 406 for $116.08 and Check No. 407 for $12.50 were found outstanding. A $521 deposit was not on the statement. Bill has his payroll check electronically deposited to this checking account - the payroll check was for $1'015.12. (Bill's payroll checks vary each month.) There are also a $1 service fee and a teller fee of $6.

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