Statement I: Welfare banks are check-cashing outlets.
Statement II: To cash a check at a check-cashing outlet,you usually have to pay a fee of one to three percent of the value of the check.

A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.

Welfare Banks

Financial institutions or programs that aim to support the economically disadvantaged segments of society, though it's not a widely used term and may refer to various initiatives in different contexts.

Check-Cashing Outlets

Financial service providers that offer clients the ability to cash checks for a fee without needing a bank account.

Pay a Fee

The act of making a payment for a service or the right to engage in a particular activity, typically set at a fixed rate by the service provider or regulating authority.