0
What else can I help you with?
What is bank of america minimum balance required to waive monthly fee?
300 each month
What is fee income of banks?
There are many fee's charged by banks. Some are: a. Annual account maintenance fee b. Fee for not maintaining the minimum stipulated balance in the account c. Fee for check bounce d. Fee for additional checks in a year (beyond a minimum number) e. Fee for late payment of loan instalments f. Etc
Are late fees removed from the balance when paid with a regular payment?
Yes, for most loans. For most loans, the late fee is added to the minimum payment required (and the balance at the time of incurring the late fee) and will be deducted from the balance once the payment is received.
How do credit card balance transfer fees work?
Balance transfer fee guidelines have changed beginning in 2007 and into 2008. Most creditors still have either a 3 or 4% balance transfer fee with a minimum of $5. However, there is no longer a maximum charge on balance transfer among most credit card issuers. This means that a balance transfer on a $10,000 offer could cost you $300 or more as a balance transfer fee. Furthermore, this balance transfer fee is often added into the next month's payment. This could cause this payment to be $300 higher than what you were expecting, which could make it hard to make the required minimum payment. Of course, if you miss that minimum payment, expect to see your interest rates skyrocket!
Why do banks charge Minimum balance fee?
The bank incurs certain expenses in maintaining our accounts and providing the banking services. By fixing a minimum balance, the bank can be sure of the amount of money it can have in its reserves and plan its cash flows better.
With which type of account is a minimum balance fee associated?
Checking account
What is a minimum balance?
A Minimum Balance Fee is a payment made to your bank for not having enough money in your savings account, checkings account, ETC.
What is bank of america minimum balance required to waive monthly fee?
300 each month
What is Minimum daily collected balance?
The minimum sum of cash balances daily. Example - if your checking account requires a minimum daily collected balance of $500 to avoid a monthly maintenance fee, you must keep your cash balance in your checking account at or above $500.
What is fee income of banks?
There are many fee's charged by banks. Some are: a. Annual account maintenance fee b. Fee for not maintaining the minimum stipulated balance in the account c. Fee for check bounce d. Fee for additional checks in a year (beyond a minimum number) e. Fee for late payment of loan instalments f. Etc
Are late fees removed from the balance when paid with a regular payment?
Yes, for most loans. For most loans, the late fee is added to the minimum payment required (and the balance at the time of incurring the late fee) and will be deducted from the balance once the payment is received.
How do credit card balance transfer fees work?
Balance transfer fee guidelines have changed beginning in 2007 and into 2008. Most creditors still have either a 3 or 4% balance transfer fee with a minimum of $5. However, there is no longer a maximum charge on balance transfer among most credit card issuers. This means that a balance transfer on a $10,000 offer could cost you $300 or more as a balance transfer fee. Furthermore, this balance transfer fee is often added into the next month's payment. This could cause this payment to be $300 higher than what you were expecting, which could make it hard to make the required minimum payment. Of course, if you miss that minimum payment, expect to see your interest rates skyrocket!
Why do banks charge Minimum balance fee?
The bank incurs certain expenses in maintaining our accounts and providing the banking services. By fixing a minimum balance, the bank can be sure of the amount of money it can have in its reserves and plan its cash flows better.
What are the benefits of CitiGold Interest Checking?
One of the benefits of CitiGold Interest Checking is that there is no minimum opening balance required. There is also no minimum fee to maintain to avoid a finance charge. One will also draw a .1% interest on the balance of their account.
Can you sue banks?
Yes. If the bank does something that is not correct you can always sue the bank. For ex: if a bank charges you a fee for not maintaining your minimum balance even though you have sufficient balance in your account, you can raise a complaint with the bank to reverse the fee. If they fail to do so, you can sue them legally because what they did was wrong and you had enough balance in your account and they should have never charged you that fee.
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.
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.
