Search for a term:

minimum balance


Definition
The minimum amount a bank or other financial institution requires a customer to maintain in his or her account. The institution can set a minimum balance level for any of its accounts, and this amount will vary by institution. Usually, if the required minimum balance is not maintained, the customer is charged various fees for failing to meet the requirements.

Related Terms

automatic transfer service account -  More

super NOW account -  More

interest option -  More

Related Terms on BusinessDictionary

bank charge
savings account

Related Personal Finance Articles

Loading...

minimum balance in the news

Loading...

minimum balance is ...

... part of the Banking subject.

Search volume for minimum balance

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z