Minimum daily balance: Difference between revisions
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{{Orphan|date=February 2009}} |
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In [[bank]]ing, a '''minimum daily balance''' is the minimum [[balance (accounting)|balance]] that a [[banking institution]] requires account holders to have in their [[Bank account|accounts]] each day in order to waive [[maintenance fee]]s. This is not to be confused with the [[average daily balance]], which is computed as the sum of daily balances in a billing period divided by the |
In [[bank]]ing, a '''minimum daily balance''' is the minimum [[balance (accounting)|balance]] that a [[banking institution]] requires account holders to have in their [[Bank account|accounts]] each day in order to waive [[maintenance fee]]s. This is not to be confused with the [[average daily balance]], which is computed as the sum of daily balances in a billing period divided by the number of days. |
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[[Category:Banking]] |
[[Category:Banking]] |
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Revision as of 21:51, 30 August 2013
In banking, a minimum daily balance is the minimum balance that a banking institution requires account holders to have in their accounts each day in order to waive maintenance fees. This is not to be confused with the average daily balance, which is computed as the sum of daily balances in a billing period divided by the number of days.
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