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Which type of checking account requires a certain amount of money to be kept in it at all times in order to avoid fees?
minimum balance account
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.
What does pending debit mean on your checking account balance?
it means the bank you are making a transaction at hasn't approved the transaction yet so you have to wait because they can always decline or reverse it. Reverse means to send the amount of money you wanted to transfer elsewhere back to the checking account and it could be a lot of reasons as to why they would decline or reverse the transaction.
What is the primary purpose of a transfer balance?
The primary purpose of a transfer transaction the moving of fund from one account to another. The accounts need not be at the same financial institution. The full balance of the account or just a partial amount can be transferred. Some financial institutions provide a service that automatically does a transfer from one account to another should one of the accounts balance reach a certain threshold.
What type of account is Prepaid Rent?
balance sheet as a current liability until it's earned, when you transfer the amount earned to revenue.
Is the amount of money in your checking account called your allowance?
No, the proper banking term is balance for an amount in a checking account.
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.
Is checking account balance considered an asset?
Yes, a checking account balance is considered an asset because it represents the amount of money a person has available to use.
How do balance transfers work?
A balance transfer works by moving the amount owed on one account to another account. There are two accounts, the receiving account and the delivering account.
Which type of checking account requires a certain amount of money to be kept in it at all times in order to avoid fees?
minimum balance account
What type of checking account requires a certain amount of money to be kept in it all time in order to avoid fees?
Minimum Balance account
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.
What is the folio balance and how can it be accessed or viewed?
The folio balance is the total amount of money in a financial account. It can be accessed or viewed by logging into the account online, contacting the financial institution, or checking a paper statement.
Can one get a free and easy checking account at Beneficial Saving Bank?
Yes, you can get a free and easy checking account at Beneficial Saving Bank. Most banks will also offer free balance transfers and no minimum amount in the account.
What does pending debit mean on your checking account balance?
it means the bank you are making a transaction at hasn't approved the transaction yet so you have to wait because they can always decline or reverse it. Reverse means to send the amount of money you wanted to transfer elsewhere back to the checking account and it could be a lot of reasons as to why they would decline or reverse the transaction.
How can I add money to a CD account?
To add money to a CD account, you can make a deposit at the bank or through online banking. Simply transfer the desired amount from your savings or checking account into the CD account.
The amount of money in a bank account is called what?
account balance
