The minimum amount a bank or other financial institution requires a customer to maintain in his or her account. The institution can set a minimum balance level for any of its accounts, and this amount will vary by institution. Usually, if the required minimum balance is not maintained, the customer is charged various fees for failing to meet the requirements.
Related information about minimum balance:
- Minimum Balance Definition | Investopedia
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- What is minimum balance? definition and meaning
Definition of minimum balance: The minimum amount a bank or other financial ... The institution can set a minimum balance level for any of its accounts, and this ...
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Learn what your minimum balance requirement means, how much money you need to keep in the account, and if you should switch to a new account or bank.
- Minimum Balance: Definition from Answers.com
Minimum Balance Amount required in an account to earn interest, qualify for special services, or waive service charges.
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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 ...
- The true cost of paying the minimum - Bankrate.com
Find out the difference in interest between a fixed payment and the minimum credit card payment with bankrate.com's financial calculator.
- What Is a Minimum Balance?
A minimum balance is the amount of money, usually specified exactly, which an account holder must maintain in order to be eligible for certain privileges.
- How to Avoid Your Bank's Minimum Balance Requirement for ...
Nov 16, 2012 ... Why do banks require a minimum balance for savings accounts? You may receive perks for keeping more money on deposit. However, some ...