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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.
It depends on many factors such as minimum balance, availability of branch or ATM, what type of facilities required by the bank etc..
Fiscal years means the minimum accounting period for which books of accounts are maintained and business activity is performed.
Most banks do not require a minimum balance to be kept in a business account. If you are looking at obtaining one, you will want to check with your local bank if they require a minimum balance.
A 'No Frills' account is a basic banking account. Such account requires either nil minimum balance or very low minimum balance. Charges applicable to such accounts are low. Services available to such account is limited.
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.
A type of checking account that also earns interest is called an interest-bearing checking account. These accounts typically require a minimum balance to be maintained in order to earn interest.
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.
It depends on many factors such as minimum balance, availability of branch or ATM, what type of facilities required by the bank etc..
Some banks offer zero account balance accounts. In them you need not maintain any minimum balance to run the account. But in most cases each bank would have a minimum amount that needs to be maintained. For example in a Nationalized Bank in India where the account gives you features like cheque book, ATM card etc, the minimum balance is 1000 rupees. In case you fail to maintain the minimum balance then the bank has the rights to charge a penalty. This would be charged on a monthly basis based on the number of times your account has failed to maintain the min balance.
Fiscal years means the minimum accounting period for which books of accounts are maintained and business activity is performed.
Most banks do not require a minimum balance to be kept in a business account. If you are looking at obtaining one, you will want to check with your local bank if they require a minimum balance.
None. You may have a balance of £0.00 when opening or transferring accounts with RBS (Royal Bank of Scotland).
A 'No Frills' account is a basic banking account. Such account requires either nil minimum balance or very low minimum balance. Charges applicable to such accounts are low. Services available to such account is limited.
A 'No Frills' account is a basic banking account. Such account requires either nil minimum balance or very low minimum balance. Charges applicable to such accounts are low. Services available to such account is limited.
activity checking accounts are checking accounts perfect for people who only write a few checks a month and are unable to maintain a minimum balance.
Banks cannot and do not close checking accounts without valid reasons. They may close the account if: * You have not maintained the minimum required balance * You have not operated your account for very long time * You issue too many cheques that bounce * You are suspected to carry out illegal activities like money laundering.