Suppose that your bank imposes the following fees and/ or service charges. Explain the banks rationale and
Question:
a. $ 1.50 per item for use of an ATM run by an entity other than your own bank
b. $ 4 per transaction for using a live teller rather than making an ATM or telephone transaction
c. Increase in the charge for insufficient funds (where a customer writes a check for an amount greater than the balance available in the account) from $ 25 per item to $ 30 per item
d. A 1 percent origination fee for refinancing a mortgage
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Feesservice charges a Bank must pay an interchange fee to the owner of the ATM ...View the full answer
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