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compensating balance

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Q: A minimum cash balance required by a bank is called?
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What is the minimum balance required in savings account in standard chartered bank?

The minimum balance required in a savings account at Standard Chartered Bank may vary depending on the specific account type and location. It is recommended to check with the bank or refer to their official website for accurate and up-to-date information on the minimum balance requirements.


What is bank of america minimum balance required to waive monthly fee?

300 each month


At a bank to receive interest is a minimum balance required?

If an account is interest based then any amount is fine


What is the best bank for personal bank accounts?

It depends on many factors such as minimum balance, availability of branch or ATM, what type of facilities required by the bank etc..


What is the difference between saving account and salary account in bank?

In Salary Account 0 balance is allowed and in saving account minimum balance required


Will your checking account be closed if you fall below the minimum balance required?

Usually No. the bank will charge you a penalty fee for letting your balance go below the minimum amount. However if you repeat the same continuously the bank may close your checking account.


What is the lowest minimum balance required to open an account with RBS?

None. You may have a balance of £0.00 when opening or transferring accounts with RBS (Royal Bank of Scotland).


Is there a bank that will allow you to open an account with no penalties for minimum balance?

No. If the bank mentions a minimum balance, if you do not maintain it, it would charge you the penalty.


What are the fees for checking at the Randolph Savings Bank?

At Randolph savings bank, free checking accounts are free to open. The minimum to open is $10 but there is no minimum balance required. You can also select their interest checking account, which charges a monthly service charge of $8 unless you have a minimum balance of $500.


What is minimum balance?

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.


Can you still deposit to your account even if a haven't deposit since last year?

yes, as long you maintained the minimum maintaining balance, a bank required, there will be no bank charges deduction on your account, because 1 year of no depositor/s transactions means dormat account. If, minimum maintaining balance was not met, then your bank charged you of dormancy, then your account might be closed, and you cannot deposit any. Ask your bank about your balance.


What is minimum amount required to open an account in iob bank?

Rs. 500 is the minimum amount required to open an account in iob bank