What is Minimum Balance?
Minimum Balance The minimum amount of money required to be maintained in a bank account to avoid fees or maintain account privileges, as specified in the account terms.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “Minimum Balance” Used in Practice?
Banks require customers to maintain a minimum balance to avoid monthly service charges or to qualify for certain account features.
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Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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What is Minimum Balance?
The minimum amount of money required to be maintained in a bank account to avoid fees or maintain account privileges, as specified in the account terms.
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