Minimum daily balance
From Wikipedia, the free encyclopedia
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.
A minimum average daily balance is the minimum average balance that a banking institution requires account holders to have in their accounts each day in order to waive maintenance fees. It is computed as the sum of daily balances in a billing period divided by the numbers of days.
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