Question

global exchange bank
monthly maintenance fee: $15 waived with a minimum daily balance
of $2, 000 with monthly direct deposits of $1, 000
atm fee: $0 for in - network and international atms; $3 out - of - network
domestic atms
overdraft fee: $35 per occurrence
minimum balance fee: $10 if the balance falls below $500
wire transfer fee: free for domestic, $20 for international
savings account interest rate: 0.4% annual percentage yield (apy)
special feature: offers multi - currency accounts and favorable
exchange rates

a global exchange bank customer has a balance of $3, 000, uses an in - network atm twice, and makes one overdraft. they also receive a direct deposit of $2, 500.
what are their total fees?

Explanation:

Step1: Check Monthly Maintenance Fee

The monthly maintenance fee is $15, but it is waived with a minimum daily balance of $2,000. The customer has a balance of $3,000, so this fee is $0.

Step2: Check ATM Fee

The customer uses an in - network ATM twice. The in - network ATM fee is $0.

Step3: Check Overdraft Fee

The customer has one overdraft. The overdraft fee is $25 per occurrence, so this fee is $25.

Answer:

$25