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The minimum sum of cash balances daily. Example - if your checking account requires a minimum daily collected balance of $500 to avoid a monthly maintenance fee, you must keep your cash balance in your checking account at or above $500.
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What is the minimum balance required for STI account?
For a savings account without a checkbook, Rs500 is the minimum balance required to open and maintain the account. For a savings account with a checkbook, the minimum balance doubles to Rs1,000.
Why is an electronic balance more accurate than a beam balance?
Its least count is 0.001g i.e minimum among other balances.Its precision is maximum due to minimum least count.So electronic balance is an accurate balance.
What should be the minimum balance PNB saving account?
1000/-
Saving account minimum balance of ICICI?
It depends on the type of account you have. For ex:For a regular savings account you need a quarterly minimum balance of Rs. 10000/-For a Salary account - it is '0'For a Savings account with a Gold Debit card - it is Rs. 50000/- quarterly balanceEtc.
How much does the homeowner contribute to Kitchen Cousins when they do a kitchen renovation?
The Home Owner contributes as much as he or she can afford. However, sometimes, for some families, there may be a minimum balance required of the previously mentioned home owner.
Negative collected balance?
Negative Collected Balance = Ledger Balance - Float, given Float > Ledger Balance.
How do you calculate the average collected balance?
The definition is: the daily ledger balances less uncollected checks divided by the number of days in a period.
What is a negative collected balance?
Negative collected balance is a term used in accounting to describe accounts that are cannot be collected on. This means that they have tried several times to collect the balance and have been unsuccessful.
When a finance charge is calculated on the average daily balance when should consumers pay the bill to keep finance charges at a minimum?
Paying the bill as early in the payment period as possible will make the average daily balance lower and therefore minimize the finance charges.
How is the remaining balance collected?
Who loaned the money?
What is the minimum balance required for STI account?
For a savings account without a checkbook, Rs500 is the minimum balance required to open and maintain the account. For a savings account with a checkbook, the minimum balance doubles to Rs1,000.
Interest is charged on the average daily balance on your charge card with the?
Average daily balance method
How the interest on savings account is calculated?
The interest on a business savings account is compounded daily using a 365-day year (366 days each leap year) and calculated on the collected balance.
How is the average daily balance calculated?
it is the sum of the daily balance divided by the number of days in the billing cycle
How is average daily balance calculated?
it is the sum of the daily balance divided by the number of days in the billing cycle
A minimum cash balance required by a bank is called?
compensating balance
How does amex calculate your minimum payment?
Minimum payments are a percentage of your current balance. As your balance lowers, so does your minimum payment amount. For a specific equation on how the minimum payment is calculated, contact Amex directly.
