Lisset Mata Cortez

January 19, 2017

Ms.Campbell

In class we had to pick at least a group of 3 people. My Group Elizabeth and Reyna and I came up with 5 questions in total out of all we had to pick a main one to ask the banker. We asked the branch manager, Eric, that works at Bank of the West, “What is the current interest rate for you CD?”. “We had also ask how old you have to be to open an account.?”

 

Eric said,”CD is a contract with the bank, you can’t break  the contract, certain tied to it, they go to loans which they give more than they earn. Interest rate are related to union. Prime 3 and half they have are earning of 1% and give out certain amounts.” Basically  what that means is that you are part of the company by 1% so if you don’t pay it will affect credit by $100 starting. “To start an account  you have to be at  least 14 but I believe that you shouldn’t have a bank account yet.”

 

I did some research and it is a bit complicated to have a banking account in a young age because of all consequences that could happen and the fee that the bank can charge you if you spent all money from your bank.