Sentences with phrase «average daily balance»

A minimum average daily balance of $ 2,500 is required for a Money Market account.

Some credit cards calculate interest based on average daily balance.

Usually it is «average daily balance method».

The bank will waive the fee if you have a direct deposit each monthly statement period or if you maintain a $ 5,000 monthly average daily balance in your checking account.

You come out ahead because the line of credit interest is calculated using average daily balance.

^ Fees: If Average Daily Balance calculated at the end of the month is below $ 25,000, then a $ 10 fee is assessed.

If the balance drops below a $ 50 average daily balance over the course of the statement cycle, dividends no longer accrue on the account.

A minimum average daily balance of $ 2,500 is required for a Money Market account.

This means that your interest rates will be calculated based on your two months average daily balance... thus resulting in higher interest costs.

Most companies have a mathematical formula that looks like this: average daily balance x periodic daily interest rate x number of days in a billing cycle = finance charge.

This is because paying early leads to lower credit utilization and a lower average daily balance.

As noted previously, most banks will accumulate interest on a daily basis, using a method called average daily balance.

A $ 10 monthly account service charge is waived if you maintain a $ 2,500 average daily balance during the statement cycle.

While there is no minimum balance requirement for this account, the Interest Checking account is subject to a monthly maintenance fee, which you may avoid by maintaining a certain average daily balance.

** Customer has 30 days to achieve a $ 2,500 minimum average daily balance before monthly service charge takes affect.

** Average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.

Unfortunately, it is not a simple calculation because some credit card companies use average daily balances and have different daily or monthly compound interest calculation periods.

The mathematical formula used to calculate monthly interest charges is the same for most card companies: average daily balance x periodic daily interest rate x number of days in a billing cycle.

By the numbers Your Preferred Rewards program balance is calculated based on your combined average daily balance for a period of 3 calendar months that you — as the primary or co-owner on the account — keep in your eligible Bank of America ® banking and / or Merrill Edge ® and Merrill Lynch ® investment accounts.

No monthly service charge with average daily balance of $ 250 (Monthly service fee of $ 15 if balance falls below minimum) Tiered interest paid on daily collected balances Minimum $ 500 daily balance required to earn interest.

* See Business Fee Schedule for fees assessed when average daily balance falls below the minimum required for your specific account type.

Therefore, we can once again re-write the formula for interest, with our newfound knowledge of average daily balance as:

¹ 3.00 % APY displayed is paid on average daily balances up to $ 10,000.00, 0.50 % APY between $ 10,001.00 - $ 25,000.00 and 0.10 % APY on remaining balance and / or non-qualifying accounts.

Combined average daily balance of $ 15,000 across eligible Chase accounts or automatic payments on Chase first mortgage from checking account

Everbank's website shows under «Rates & Fees» for this account an $ 8.95 «Monthly fee in any month when average daily balance is below $ 5,000».

Least Attractive Feature: When determining interest costs, this card uses your «Two Cycles Average Daily Balance» This means that your balance is used from two billing cycles to determine what your interest rate costs are going to be.

4 If your Santander Select Checking account is closed, your Santander Select Money Market account will be converted to a Santander Money Market Savings account, which will have a minimum average daily balance requirement of $ 10,000 to waive the $ 10 Monthly Fee.

They will want to look at your business bank account statements to determine how if you have a large enough average daily balance to lend to, and to evaluate how much cash you're bringing in in comparison to the amount of debt your business has.

7 No Monthly Fee for Santander Money Market Savings with any personal Santander checking account or with $ 10,000 average daily balance per service fee period in the Santander Money Market Savings account (otherwise, $ 10.00).

Members Plus Checking: requires a $ 100 Deposit minimum at opening and a monthly average daily balance of $ 1,000 to avoid a $ 10 monthly account fee.

Please note that your card average daily balance is a function of the transactions that you carried on with your credit card within a billing cycle while your daily periodic rate is directly affected by your APR and the number of days used to work out a year.

Separating revolving debt from ongoing purchases will also reduce your interest - accruing average daily balance, thereby giving you reduced costs to go along with debt stability.

However, if you have good cash flow and strong average daily balances in your accounts then underwriting may decide this isn't necessary.

Our Rewards Checking account offers a monthly dividend of 3 % APY on average daily balances between $ 500 and $ 20,000 just by meeting the following simple criteria listed below!

See average daily balance.

Monthly interest charged = (daily interest rate x average daily balance for the month) x number of days in the month

No Interest Paid for Savings Feature with Average Daily Balances Over $ 10,000.

This allows us to keep a higher average daily balance in the savings account, accrue free points on our card, and because we're using the credit card everything is setup for auto payments that means we keep the money as long as possible.

* Fees: If Average Daily Balance calculated at the end of the month for the PAMMA is below $ 25,000, then a $ 10 fee is assessed.

Earnings credit can be used to offset maintenance and service fees (calculated on average daily balance less reserves)

Regarding how the averaging works, one averages the daily balance over one month, the other over two, all with actual numbers, so obviously the first month the account is open either would look like a single cycle billing calculation.

Least Attractive Feature: Finances charges for this card are determined by utilizing the «Two Cycles Average Daily Balance».

Ideal for: Businesses with higher average daily balances and larger transaction volume.

As a non-interest-bearing account, you'll have low or no fees with a low monthly average daily balance requirement.

The monthly fee is $ 12 in most states ($ 10 in Calif., Ore. and Wash.), and Chase offers several ways to get the fee waived, including monthly direct deposits of $ 500 or more, or a combined average daily balance of $ 1,500.

They will want to look at your business bank account statements to determine how if you have a large enough average daily balance to lend to, and to evaluate how much cash you're bringing in in comparison to the amount of debt your business has.