Question
3. What is an excessive transactions fee? 4. Which fee on this list will be the most challenging for you to avoid?
Answer
4.2
(224 Votes)
Harry
Expert · Tutor for 3 years
Answer
1. An excessive transaction fee is a fee charged for engaging in activities that surpass the standard limits or guidelines set by a financial institution.2. The most challenging fee to avoid depends on individual usage patterns and financial habits. For someone who frequently makes transactions that exceed standard limits, the corresponding fee will be the most challenging to avoid.
Explanation
The term "excessive transaction fee" generally pertains to fees charged by financial institutions for certain activities that exceed predefined limits or expectations. These could be fees for an unusually high number of transactions, international transactions, or transactions that surpass account guidelines. It's important to review your account's terms and conditions to understand what constitutes "excessive" in each context, as it might vary from one financial institution to another.Identifying which fee among a list is the most challenging to avoid requires an analysis of your personal financial behavior. For instance, if you frequently make international transfers and those attract high fees, then international transfer fees might be the hardest for you to avoid. Conversely, if your primary expenses are local and online, then fees related to physical transactions might be less relevant.