Minimum Daily Balance definition
Minimum Daily Balance. The lowest current balance in the account at the end of a business day. Non-sufficient funds (NSF): The amount by which any item(s) posted on your account on a business day exceeds the current balance and is not paid by the Bank. Non-Sufficient Funds Fee (NSF Fee): The fee for a returned item that is charged when the current balance in an account is insufficient to cover a given transaction. Overdraft: The amount by which any item(s) posted on your account on a business day exceeds the current balance and is paid by the Bank. Overdraft Item Fee: The fee charged for any overdraft item that causes your account to be overdrawn as provided in the Fee Schedule for Business Accounts. Overdrawn: When your account has a negative current balance. PIN: A four-digit personal identification number that you select for your debit or ATM card. Some merchants and all ATMs require a PIN when you use a debit card. Savings accounts and money market accounts: Accounts that are not payable on a specified date or at the expiration of a specified time.
Minimum Daily Balance. The lowest balance that we determine is in the account during a statement cycle. We may use the minimum daily balance to determine service charges on your account. State: A U.S. state, the District of Columbia, Puerto Rico, American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, the U.S. Virgin Islands, the Trust Territory of the Pacific Islands and all other U.S. territories are states (for purpose of placing funds holds). United States (U.S.): All states, including the District of Columbia, the U.S. Virgin Islands, American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, and Puerto Rico. Variable Rate: The interest rate and the Annual Percentage Yield (APY) may change after the account is opened at any time, at the discretion of the Bank.
Minimum Daily Balance. The lowest current balance in the account at the end of a business day. Non-Sufficient Funds (NSF): The amount by which any item(s) posted on your account on a business day exceeds the current balance and is not paid by the Bank.
Examples of Minimum Daily Balance in a sentence
We may use the Minimum Daily Balance to determine service charges on your account during a statement cycle.
More Definitions of Minimum Daily Balance
Minimum Daily Balance. The lowest Current Balance in the Account at the end of a Business Day. Non-sufficient funds (NSF): The amount by which any Item(s) posted on your Account on a Business Day exceeds the Current Balance and is not paid by the Bank. Non-Sufficient Funds Fee (NSF Fee): The fee for a returned Item that is charged when the Current Balance in an Account is insufficient to cover a given transaction as provided in the Fee Schedule for Personal Accounts. Overdraft: The amount by which any Item(s) posted on your Account on a Business Day exceeds the Current Balance and is paid by the Bank. Overdraft Item Fee: The fee charged for any Overdraft Item that causes your Account to be overdrawn as provided in the Fee Schedule for Personal Accounts. Overdrawn: When your Account has a negative Current Balance. PIN: A four-digit personal identification number that you select for your debit or ATM card. Some merchants and all ATMs require a PIN when you use a debit card. Savings Accounts and Money Market Accounts: Accounts that are not payable on a specified date or at the expiration of a specified time. State: A U.S. State, the District of Columbia, Puerto Rico, American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, the U.S. Virgin Islands, the Trust Territory of the Pacific Islands and all other U.S. territories are states (for purpose of placing funds Holds). United States (U.S.): All States, including the District of Columbia, the U.S. Virgin Islands, American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, and Puerto Rico. Variable Rate: The interest rate and the Annual Percentage Yield (APY) may change after the Account is opened at any time, at the discretion of the Bank.