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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.
The Way2Save savings account at Wells Fargo Bank has a monthly maintenance fee of $5, which you can avoid if you maintain a $300 minimum daily balance, set up one or more recurring savings options ...
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.
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 between...
Banking terms (2 C, 146 P) ... Minimum daily balance; Mitigation banking; Monetary system; Money center bank; Money creation; Mortgage note; MSI 20000;
A money market account (MMA) or money market deposit account (MMDA) is a deposit account that pays interest based on current interest rates in the money markets. [1] The interest rates paid are generally higher than those of savings accounts and transaction accounts; however, some banks will require higher minimum balances in money market accounts to avoid monthly fees and to earn interest.
Most feature no minimum balance requirements and no monthly fees. ... are at FDIC-insured digital banks and online accounts paying out rates of up to 5.10% APY with no minimums at Patriot Bank ...
In investment banking, PnL explained (also called P&L explain, P&L attribution or profit and loss explained) is an income statement with commentary that attributes or explains the daily fluctuation in the value of a portfolio of trades to the root causes of the changes.