Question

citywide bank
minimum balance: $500
monthly maintenance fee: $10
atm fee: $0 for in - network, $2 for out - of - network
overdraft fee: $35 for each occurrence
wire transfer fee: $15 for domestic transfers, $25 for international transfers
first community credit union
minimum balance: $0
monthly maintenance fee: $0
atm fee: $0 for in - network, $5 for out - of - network
overdraft fee: $5 for each occurrence
wire transfer fee: $15 for domestic transfers, $25 for international transfers
techcentral online bank
minimum balance: $0
monthly maintenance fee: $0
atm fee: $0 for in - network, $4 for out - of - network
overdraft fee: $40 for each occurrence
wire transfer fee: $15 for domestic transfers, $25 for international transfers
a customer at first community credit union uses their banks atm three times during the month. while traveling, they use an out - of - network atm one time. after paying their electric bill, their balance drops below $0 until their next paycheck gets deposited into their account. what will be their total fees for the month?
$0
$10
$50
$5

Explanation:

Step1: Identify ATM - fee

The out - of - network ATM fee at First Community Credit Union is $2 per use. The customer uses out - of - network ATMs 3 times. So the ATM fees are $2×3 = $6.

Step2: Identify other fees

There is no mention of wire transfers, overdrafts, and the monthly maintenance fee is $0 as there is no indication of non - compliance with minimum balance requirements (the balance drops below $0 but the minimum balance requirement is $0).

Step3: Calculate total fees

The total fees are just the ATM fees. So the total fees for the month are $6.

Answer:

$6