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What else can I help you with?
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.
How much money do you need to start a checkings account?
== == Most of the major banks require a minimum balance to keep open. While some smaller banks and credit unions let this rule slide to keep customers, Financial collapse of September 2008 has forced most banks to moving back to a minimum balance rule. The amount of the minimum balance often varies depending on the bank and the type of account. Savings accounts? Many savings accounts do require minimum balances. Typically as long as you keep the minimum balance in your account, they will not charge you a fee. Many banks offer accounts with no minimum balance or a very low minimum balance.
What is the minimum GPA requirement to get into Ohio University?
As of May 2014, overall there is no minimum GPA requirement to be accepted into Ohio University. Some schools and graduate programs may have a requirement, usually 3.0.
What is a no-fee checking account?
A No Fee checking account is one in which the bank does not charge you any fees like monthly fee, minimum balance fee, transaction fee etc. these fees are usually charged by most banks to their checking account customers. Not many banks offer such no-fee checking accounts.
What are the benefits and drawbacks of free checking accounts?
The benefits are usually that there are no monthly fees, no minimum balance, and only a small balance needed to open the account. The drawbacks are that you do not earn interest in most free checking accounts, and you are limited in the services that you can use. For most regular people, a free checking account serves them well. For wealthy people, free checking does not allow them to gan interest on the large amount of money they have,
What year do you have to be born in to get a checking account?
Most banks have a minimum age of 18 to open a checking account with a parent or guardian. If you open a joint checking account with a parent or guardian, the minimum age is usually 13.
What amount of money in a checking or a savings account upon which interest is based?
The amount of money in a checking or a savings account is the balance. The interest is usually based on the balance.
Do most high interest saving accounts require a minimum balance?
Yes, most high interest savings accounts require a minimum balance. Since it is high interest, it is usually a high minimum account balance as well.
Are checking accounts free or no?
Some banks offer free checking accounts to seniors and to people who maintain a certain minimum balance or other investments with the same bank. Free accounts usually provide only basic services and there may be service charges associated with some transactions.
What is the difference between a checking and savings account in terms of interest rates?
Usually, most checking accounts don't pay interest at all or if they do, a very high minimum balance is needed. Usually when it is available, savings does have more interest paid, but not a significant amount more. Because checking accounts are made to be used, interest is often lower. Savings, and variations of it, tend to be higher because it is not touched...as often.
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.
What type of checking account usually requires the highest balance to be kept on deposit?
It differs from bank to bank. Each bank has different types of checking accounts that require different balances because they get diffrent benefits. For example, Wells Fargo has a checking account called the PMA checking, which stands for Portfolio Management. To keep it free you need to have $25000 or more in combined balances, including 10% of your mortgage. Combined balances means the total of all your accounts with Wells Fargo. This account gets bonus interest rates on savings accounts, gets all check designs free, entitiles the owner to 100 free stock trades per year in a wellstrade account, makes any other account the owner has free without a minimum balance, waives the fee on a line of credit, and gets other perks. Usually MoneyMarket checking accounts require high minimum balances because they earn the highest rate of interest.
