answersLogoWhite

0

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.

User Avatar

Wiki User

14y ago

What else can I help you with?

Continue Learning about Accounting

Which banks in Wachovia offer a free checking account?

All Wachovia Banks offer free checking accounts. They are even offering a $50 bonus for opening a new free checking account. The accounts have no monthly service fee, no minimum balance and no direct deposit requirement.


What should be the minimum balance to be maintained in personal ledger accounts?

The minimum balance to be maintained in personal ledger accounts can vary depending on the bank or financial institution's policies, as well as the type of account held. Generally, it ranges from zero to a few hundred dollars. Some accounts may require a higher minimum balance to avoid monthly maintenance fees or to earn interest. It's essential to check specific account terms to determine the exact requirements.


How do business bank accounts work?

Well, darling, business bank accounts work just like personal bank accounts, but for your business. You deposit money in, pay your bills, and hopefully have some left over for a rainy day. Just remember, keep your personal and business expenses separate unless you want the IRS knocking on your door.


Can you walk in to any PNC and get cashiers check?

Only if you are an existing customer and have a Performance Checking (maintain monthly minimum of $1,500) or a Performance Select Checking account (maintain monthly minimum of $5,000).


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.

Related Questions

Do all savings accounts have monthly fees?

Not all saving accounts have monthly fees. Checking accounts usually do however and also require a minimum amount in the account, TD Bank for example requires a minimum of 100 dollars after age 24 but free saving accounts and free for users under age 18 or 21.


What types of fees could a business avoid by signing up for a free merchant account?

If you have a free merchant account for your business you will be able to avoid the monthly bank charges and fees that are normally added to business accounts by banks.


What is the minimum monthly payment required for this account?

The minimum monthly payment required for this account is the smallest amount of money that must be paid each month to keep the account in good standing.


Are there any fees associated with opening a savings account with Barclays Business?

Barclays Business has no monthly fees associated with their savings accounts. However there are options that you can add to your account that may add fees up to two euros a month.


Which banks in Wachovia offer a free checking account?

All Wachovia Banks offer free checking accounts. They are even offering a $50 bonus for opening a new free checking account. The accounts have no monthly service fee, no minimum balance and no direct deposit requirement.


Where can I open a free checking account online?

You can open a free checking account online at many banks and credit unions. Look for institutions that offer online account opening services and have no monthly fees or minimum balance requirements for their checking accounts.


What should be the minimum balance to be maintained in personal ledger accounts?

The minimum balance to be maintained in personal ledger accounts can vary depending on the bank or financial institution's policies, as well as the type of account held. Generally, it ranges from zero to a few hundred dollars. Some accounts may require a higher minimum balance to avoid monthly maintenance fees or to earn interest. It's essential to check specific account terms to determine the exact requirements.


How can one avoid monthly service fees on a Citibank 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).


How do business bank accounts work?

Well, darling, business bank accounts work just like personal bank accounts, but for your business. You deposit money in, pay your bills, and hopefully have some left over for a rainy day. Just remember, keep your personal and business expenses separate unless you want the IRS knocking on your door.


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.


How are dividends given in a bank account everyday or monthly?

Bank accounts differ widely. Some banks require a minimum daily balance before they give interest (meaning the balance cannot fall below that minimum on any day of the month).Generally speaking, for accounts that do accrue interest, it accrues (adds up) each day, but it is only posted and given to your account ONCE a month.


Does First Command Bank offer free checking accounts?

First Command Bank in Fort Worth, Texas does offer free checking accounts. They have an account for 14 to 22 year olds with no monthly fees. The minimum deposit is $25 to open the account, but there is no minimum deposit afterwards. This account is called "First Account" and includes a debit card and unlimited check writing. For adults, their "Command" checking account also requires a $25 minimum opening balance. You'll receive interest on the account anytime your balance is over $1,000. Check writing is unlimited and you'll receive a free debit card with the Command account. Free online statements and bill paying is another benefit for either of these checking accounts.

Trending Questions
What specifically is a vendor of record and how does it differ from a firm's general vendors? Why does the U.S. treasury deposit a few cents to your bank account before depositing your return? What is revenue expenditure? Why is the use of a Purchases Returns and Allowances account preferred to crediting these transactions to Purchases? What is the difference between 'Normative Accounting Theory' and 'Positive Accounting Theory'? What should you do to dispute fraudulent charges? What is The balance of an investment account is 308 more than the balance 4 years ago. the current balance of the account is 4708 of a math problem? What is a good grade 7 speech for school AUDITOR? What is the double entry when goods are sold for cash? Advantage and disadvantage of paying expenses using cash from the cash register? What happens to your stimulus rebate if the bank account that your tax refund was credited to is no longer open? What action can you perform on a card account list in US Bank? Can you get your taxes back when you work in a city but not live in it? What type of fees may a credit card company charge you for using their card? does the IRS mail on Friday? How do you classify settlements? What the effect of standard costing on employee motivation? What is the difference between variable overheads cost variance andfixed overheads cost variance? Fixed costs remain constant in total but vary inversely with changes in activity when expressed on a per unit basis? How long does a Certified check take to clear?