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In banking, a minimum daily balance is the minimum balance that a banking institution requires account holders to have in their accounts each day in order to waive maintenance fees. [1] This is not to be confused with the average daily balance, which is computed as the sum of daily balances in a billing period divided by the number of days.
Waiver: No $10 monthly service fee for account holders below age 24, with a $500 daily minimum balance, $500 in total qualifying direct deposits, accounts linked to a campus debit card or ATM card ...
Set up direct deposits of at least $500. Keep a $1,500 minimum daily balance. Maintain an average daily balance of $5,000 or more in any combination of this account and linked qualifying deposits.
It also features $0 monthly maintenance fees and $0 minimum balance requirements. ... a $1,500 daily balance or receive $500 in monthly direct deposits, among other options. ... fee that it waives ...
A recent GOBankingRates survey found that the majority of Americans (37%) keep a minimum balance of $100 or less in their checking accounts, and an additional 20% maintain a minimum balance ...
The account also pays a bit of interest (0.1 percent annual percentage yield) on balances under $15,000 and a bit more (0.25 percent APY) on accounts that carry a daily balance of $15,000 or more.
Minimum deposit to qualify: $500. ... which can be avoided if you maintain a $1,500 minimum daily balance or make a minimum of $500 worth of direct deposits or 10 debit card payments.
The minimum daily Ledger Balance in your account is $10,000 or more for the previous calendar month. ... Receive electronic deposits totaling $500 worth or more. Maintain a balance of $1,500 or ...