Answered

Why would it be important to have a low minimum balance requirement on a
student checking account?
Students often do not have a steady flow of income or have small paychecks,
which makes it difficult to maintain a high minimum balance.
The low minimum balance requirement offers overdraft protection.
Students make high amounts of money during college and the high minimum
balance can be met.



Answer :

GinnyAnswer

Final answer:

A low minimum balance requirement on a student checking account is essential for students with irregular income to avoid fees and provide overdraft protection.


Explanation:

A low minimum balance requirement on a student checking account is important because it accommodates students who may not have a steady income flow or earn small paychecks. This feature helps them avoid fees associated with not maintaining a high balance. Additionally, the low minimum balance requirement offers overdraft protection, which is beneficial for students.


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