Respond to the following discussion prompt.

Compare the costs and benefits of two online and mobile checking and savings account options for a young adult who has just graduated from college and is starting their career.

Answer the following questions:

What are the requirements to open the accounts?
What are the fees?
What are the available options to access accounts, deposit checks, direct deposits, etc.?
What are the account minimums?
What are some hidden items for each account?
List the specifics for each online and mobile account.

Overall, explain which option is the best for the recent college graduate.

A bank account is simply a formal arrangement whereby an individual or an organization enters into an agreement with a bank to allow the bank to keep its money and give it back when required.

B) The fees differ from bank to bank. Some banks charge zero fees, others charge a little sum for carrying out automated backgrounds checks and address verification.

C) the options about which type of account to open is totally dependent on the purpose for which the account opener needs the accounts. For example, if the account is for regular expenses, then a checking account is the best option.

D) Minimum deposits differ from bank to bank. Some banks will accept a zero deposit, others may stipulate about $50. It all depends on the nature of the account to be opened.

E) Hidden items may come in the form of transactional fees that are fully explained at the onset.

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