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Answer :
Final answer:
The three most common types of checking accounts are basic, interest-bearing, and lifeline accounts. Basic accounts cater to regular banking needs, interest-bearing accounts provide interest on balances, and lifeline accounts are designed for low-income users. Thus, the correct answer to the question is option C.
Explanation:
Common Types of Checking Accounts
Banks offer various types of checking accounts catering to the different needs of consumers. The three most common types of checking accounts are:
- Basic Checking Accounts: These accounts typically have low or no fees and are suited for everyday banking needs, making them ideal for individuals who conduct regular transactions without requiring additional services.
- Interest-Bearing Checking Accounts: These accounts offer some interest on the balance, incentivizing account holders to maintain a higher balance. This type of account is beneficial for individuals who want to earn a little interest while still having accessibility to their funds.
- Lifeline Checking Accounts: Often designed for low-income individuals, these accounts usually come with fewer fees and provide essential banking services without the financial burden of high maintenance costs.
When considering the options, the correct answer is C. basic, interest-bearing, lifestyle.
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