The opportunity cost would be the potential missed income from placing the money in an interest bearing account. $500 times .03 = $15.
15.00
$350 * 6.5% = $22.75
You can try to contact the bank that the account is with by searching the internet with the routing number. However, it is not likely that they will give you that information for privacy reasons.
They are located on the bottom of your checks. First set of numbers in the bottom left are your "routing number" to your bank. The second set of numbers is the checking account number. The third set of numbers is the actual check number (should match the number in the top right corner.)
The word minimum means that for instance if you had an equation like this,the minimum deposit for a new checking account is $75 that means that it can be $75 dollars or more.
15.00
$350 * 6.5% = $22.75
An interest bearing account can be allowed withdraws immediately, like a regular checking account. A NOW account generally requires a seven day notice before money can be withdrawn. So they're similar, only one requires a notice to get money out of.
minimum balance account
Minimum Balance account
A US checking Account
There are many types of Citibank checking accounts, some with no monthly fees such as Student Checking. Other monthly fee requirements differ by account, but in general options include keeping a minimum balance (Basic Checking requires $1500) or by making a minimum amount of certain transactions (Basic Checking requires one direct deposit and one BillPay).
Having a checking account has no effect on your credit score. Bouncing your checks has a big effect on your credit score.
"Whidbey Island bank requires you to make a deposit of 100 dollars to open a checking account with them. If you are opening a savings account, you must deposit at least 150 dollars."
It means it is a joint account and either party can sign a check. If the word "and" appears, the check requires the signatures of both parties.
A checking account is also called a transactional account or chequing account.
When money is held in a checking account the money is liquid. It is always accessible. It can be withdrawn using checks, or electronic cards. A money market account however, is much like a certificate of deposit. It requires a larger amount of money in order to open the account and has a much higher interest rate.