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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
Sales is what type of account?
Sales is a revenue account and has a credit balance as a normal balance.
Is there a minimum account that you need to keep in a savings account?
It depends on the type of savings account you have. Usually banks don't expect a minimum balance if your account is a salary account. However, depending on the country and bank the number would vary. For ex: nationalized banks expect approximately Rs. 1000 for normal savings accounts while private banks expect much higher minimum balances.
The type of account and normal balance of accumulated depreciation is?
contra asset account, credit balance
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.
What is a type of checking account that also earns interest these accounts generally have a minimum balance?
a type of checking account that also earns intrest
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.
What is the minimum balance required in savings account in standard chartered bank?
The minimum balance required in a savings account at Standard Chartered Bank may vary depending on the specific account type and location. It is recommended to check with the bank or refer to their official website for accurate and up-to-date information on the minimum balance requirements.
Does provident bank require a minimum balance in a personal checking account?
Provident Bank does offer a totally free checking account without a minimum balance. This type of account also offers no fees, unlimited check transactions and no charge for deposited items.
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
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
Why might banks require a minimum balance be maintained n savings account?
Providing you a bank account and service at the branch means that the bank incurs some expenses or should I say cost. In order to cover for that cost, banks usually specify a minimum balance based on the type of account and services you wish to avail. This minimum balance should be sufficient to offset the cost the bank incurs in providing you with the requisite services. At the end of the day, it is a business for the bank and their motive is to make a profit while providing you with banking services. That is why they require you to maintain a minimum balance on your savings account.
How much money do you need to start a checkings account?
== == Most of the major banks require a minimum balance to keep open. While some smaller banks and credit unions let this rule slide to keep customers, Financial collapse of September 2008 has forced most banks to moving back to a minimum balance rule. The amount of the minimum balance often varies depending on the bank and the type of account. Savings accounts? Many savings accounts do require minimum balances. Typically as long as you keep the minimum balance in your account, they will not charge you a fee. Many banks offer accounts with no minimum balance or a very low minimum balance.
How much the penalty for below minimum balance savings?
It actually depends on the bank and the type of account you hold with them. Let us say you have an account with a bank that expects you to maintain a minimum balance of Rs. 1000/- at all times, they might charge you around Rs. 50/- or Rs. 100/- per month if you fail to maintain the minimum expected balance. You need to check with your bank for the exact charges.
Which type of checking account pays interest on the mean balance of the account during a particular cycle?
Average Balance account
Sales is what type of account?
Sales is a revenue account and has a credit balance as a normal balance.
What type of an account is account payable?
balance sheet account liability
