Large fluctuations in
average monthly balances of bank accounts can signal an inconsistent income stream or big swings in spending habits.
Choose the checking account that fits your lifestyle, keeping in mind your
expected average monthly balance and the services and conveniences you'd find helpful.
Some organizations place a limit on the number of checks which can be written in a month while others require a
minimum average monthly balance or for direct deposit to be added.
For the Citigold Account Package, monthly fee ($ 30) is waived if a
combined average monthly balance of $ 50,000 in deposits and retirement accounts is maintained.
The $ 25 monthly service charge will be waived for your first two (2) statement cycles and may be waived thereafter when you maintain at least $ 25,000 combined
average monthly balance per statement cycle in this Bank of the West Premier Checking account plus other eligible personal Bank checking, money market, savings, CDs, and IRAs, and prior end - of - month account balances in eligible BancWest Investment Services investment accounts.
To earn interest, you'd have to upgrade to the Security Service Power Protected account, which requires a
hefty average monthly balance of $ 50,000 to avoid the $ 6 monthly fee.
There is a minimum initial deposit of $ 100 for this account and a requirement for you to maintain a $ 5,000
average monthly balance if you want to avoid getting charged a monthly fee.
In my sister's case, her account was being converted to the Citibank Account package, which has a $ 25 monthly fee that can only be waived with $ 10,000 in combined
average monthly balances across linked Citi deposit, retirement and investment accounts.
To be eligible for PNC Private Client, you'll need $ 50,000 or more in combined
average monthly balances in your active personal checking, savings, money market accounts and certificates of deposit (excluding any IRA Deposit products) using the most current statement period balance (s) at the time of enrollment.
The $ 25 monthly service charge will be rebated for your first two (2) statement cycles and may be rebated thereafter when you maintain at least $ 25,000
combined average monthly balance per statement cycle in this Bank of the West Premier Checking account plus other eligible personal checking, money market, savings, CDs, IRAs, and eligible BancWest Investment Services investment accounts.
Monthly service fee is waived if you meet at least one of the following requirements during each statement period: at least $ 500 in direct deposits, mobile check deposits of at least $ 500,
average monthly balance of at least $ 1,500, or monthly combined balance of at least $ 5,000 across linked deposit accounts
Your business bank account must also show five or more unique deposits per month and
an average monthly balance of at least $ 1,000.
In 2014, the average total monthly charge to the companies was $ 23,700 while
the average monthly balance was $ 242,153.
Finally, some banks charge the fee based on
your average monthly balance.
Credit card companies can report a no limit credit card as one of three different types of accounts: an open line of credit, a credit card with a very high balance (one much higher than your average monthly spending) or a card with a limit that equals
your average monthly balance.
Where you can run into problems is if the credit card company reports your limit as
your average monthly balance.
Credit card companies often base their interest fees on
your average monthly balance rather than your outstanding balance at the end of the month.
For example, if you had
an average monthly balance of $ 150,000, you would pay $ 30.82 per month.
Wealthfront deducts the annual fee monthly, basing it on
your average monthly balance.
Certificate balances are not included in
the average monthly balance calculation.
$ 10 monthly maintenance fee waived when member maintains the bundled products and services, plus a $ 250
average monthly balance in checking account or completes five (5) signature - based debit card transactions per month.
4 $ 10 monthly maintenance fee waived when member maintains the bundled products and services, plus a $ 250
average monthly balance in checking account or conducts five (5) signature - based debit card transactions per month.
Average monthly balance is calculated by the total of your daily end of day balance divided by the number of days in the month.
6 $ 25 monthly maintenance fee waived when member maintains the bundled products and services, plus either 1) a combined $ 25,000
average monthly balance in share accounts (excluding share certificates) and conducts five (5) signature - based debit card transactions per month or 2) has a mortgage with a starting balance of $ 250,000 or greater.
Low $.25 per item fee for items over 200 No monthly maintenance fee with
an average monthly balance of $ 5,000.
No monthly maintenance fee with
an average monthly balance of $ 5,000.
I can avail all the banking facilities without having to worry about minimum monthly or
average monthly balance.
Monthly service fee: Your account will be charged $ 6.00 only if you do not maintain
an average monthly balance of at least $ 1,000.
For
the average monthly balance, we divide the sum of the ending posted balance for each day in the statement period by the number of days in the statement period.
$ 13.00 Monthly Fee may be waived if you maintain $ 3,000 minimum daily balance or maintain $ 5,000
average monthly balance.
Interest Amount is calculated on
the average monthly balance.
Monthly Maintenance Fee $ 15 Avoid the Monthly Maintenance Fee Simply maintain a $ 5,000
average monthly balance or $ 25,000 combined minimum balance per statement period.
Monthly Maintenance Charge $ 6 Avoid the Monthly Maintenance Charge Simply maintain
an average monthly balance of $ 500 per statement period.
This account is designed for banking customers who maintain
an average monthly balance of $ 1,000 or more or have recurring direct deposits.
Combined balances include
the average monthly balance in the Relationship Checking account plus the average monthly balance in all Business Statement Savings, Business Money Market Accounts and Business Certificates of Deposits at the end of the statement cycle; all accounts must be owned by the same business entity.
$ 5,000 average daily balance of $ 5,000 or $ 15,000
average monthly balance in related accounts or $ 25,000 combined related deposit and home equity / loan balances
For instance, Citibank requires
an average monthly balance of $ 200,000 in eligible linked deposit, retirement and investment accounts to waive the fee on its Citigold checking account.
Your bonus is based on
the average monthly balance for 12 months.
An average monthly balance sums the closing balance at the end of each day and divides it by the number of calendar days in the month.
Average monthly balance is commonly used by banks to determine whether or not a client meets account balance minimums to avoid being charged account fees.