What is a minimum balance? A. The process of balancing your checkbook register against your bank statement B. The largest number of checks you can write in a month C. The smallest withdrawal you can make from a bank account D. The smallest amount of money you can keep in a bank account

Question

Joel Cherry

Business

6 August, 21:51

What is a minimum balance? A. The process of balancing your checkbook register against your bank statement B. The largest number of checks you can write in a month C. The smallest withdrawal you can make from a bank account D. The smallest amount of money you can keep in a bank account

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Answers (2)

Know the Answer?

Mohammad · Answer 1

What is a minimum balance?

D. The smallest amount of money you can keep in a bank account

Explanation:

For bank accounts, the minimum balance is the minimum dollar amount that a customer must have in an account to receive some service benefit, such as keeping the account open or receiving interest

Taylor Hudson · Answer 2

D. The smallest amount of money you can keep in a bank account

Explanation:

The minimum balance is the minimum amount of money a bank account holder must keep in his account to keep it active. Some banks require the account holder to maintain a minimum amount in order to use the bank's services without paying fees, otherwise the bank will charge a fee during the statement cycle. This is because banks use account balances to make interest-bearing applications. If your balance is not sufficient for the bank to receive a certain amount when applying your money, the monthly fee will be charged to your account.