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Bank of America’s basic savings account has a $100 minimum opening deposit. There’s also an $8 monthly fee that’s waived if: You maintain a minimum daily balance of $500.
SoFi is a bank that offers a combination checking and savings account paying out up to 4.00% APY with direct deposits without monthly account maintenance fees or minimum balance requirements.
In fact, the typical online savings account has no minimum balance at all, compared to minimum balances of hundreds of dollars required by many financial institutions with physical branches ...
For example, you can open SoFi Checking and Savings to earn up to 4.00% APY on your savings balance and 0.50% on your checking balance with FDIC insurance of up to $2 million — with minimum ...
For example: Joan has a checking account with a "$1,600 minimum daily balance." One day she makes purchases that drop her balance down to $1,300 but then deposits a $400 paycheck before the end of the day. The bank won’t charge her the service fee because her final balance that day is $1,700.
Maintain a minimum balance of at least $1,500. ... Bank of America also offers a savings account — Bank of America Advantage Savings — though it requires an opening deposit of $100.
Making a minimum deposit of $200,000 and maintaining that minimum balance can earn you $1,500. ... a Bank of America personal checking account, or been a co-owner on an account, within the past 12 ...
The best savings accounts require no minimum deposit or balance to earn interest, though you might be required to open with a minimum deposit or maintain a specific monthly balance to avoid ...
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