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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.
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 ...
However, you can avoid this fee entirely if you maintain a minimum daily balance of $1,500 or more. ATM Fee. You will incur ATM fees if you use ATMs outside of your bank’s network. There may be ...
U.S. Bank’s Standard Savings account has a monthly maintenance fee of $4, which you can get waived if you keep a $300 minimum daily balance or a $1,000 monthly collected balance.
Banking industry (2 C, 8 P) ... out of 169 total. ... Minimum daily balance; Mitigation banking; Monetary system; Money center bank;
Reserve requirements are central bank regulations that set the minimum amount that a commercial bank must hold in liquid assets. This minimum amount, commonly referred to as the commercial bank's reserve, is generally determined by the central bank on the basis of a specified proportion of deposit liabilities of the bank.
The account has no minimum opening deposit but charges fees if you do not set up a regular electronic deposit to the account or if the average ending daily balance falls beneath $5,000.
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.