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.
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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.
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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.
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Examples of Minimum Daily Balance in a sentence

  • Dividends will only be paid on those days the Minimum Daily Balance is met.

  • For Money Market and Basic Checking accounts, there is a Minimum Daily Balance required to avoid a service fee for the Dividend Period.

  • If the Minimum Daily Balance is not met each day of the Dividend Period, you will not earn the stated Annual Percentage Yield.

  • Said members will continue to be able to make contributions independently into the 403(b).

  • Minimum Daily Balance – the lowest balance that we determine is in the account during a statement cycle.

  • Minimum Deposit to Open $1.00 Closed before Disbursement Loss of Interest + $29.99 Early Withdrawal $29.99 Minimum Deposit to Open $1.00 Minimum Daily Balance Requirements 7 None Minimum Deposit to Open $1.00 Additional Withdrawals over Six (6) $37.49/each Minimum Daily Balance Requirements: 7 $2,500.00 and over No Charge $0.00 to $2,499.99 $16.49/month Includes choice of Check Safekeeping 1 or Images.

  • If the Minimum Daily Balance as listed in the Rate Schedule is not met during each day of the statement period, there will be a service fee as stated in the Member Account Service Charge Schedule.

  • We may use the Minimum Daily Balance to determine service charges on your account during a statement cycle.

  • For Money Maker and Smart Money Checking accounts, there is a Minimum Daily Balance required to avoid a service fee for the statement period.

  • For Interest Checking accounts, there is a Minimum Daily Balance of $1,000.00 required to avoid a service fee for the month.


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.
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Related to Minimum Daily Balance

  • Daily Balance means, as of any date of determination and with respect to any Obligation, the amount of such Obligation owed at the end of such day.

  • Average Daily Balance means the balance sum computed by dividing the sum of the balance outstanding on each day from the first day of the next Billing Period by the number of days in that Billing Period. For the purpose of computation, each day’s balance is determined by adjusting the Total New Balance with payments, credit, cash withdrawal, purchases of goods and/or services obtained on the Sales Drafts and/or Cash Withdrawal Drafts received by Maybank before the Closing Date of each Billing Period;

  • Maximum Daily Starts means the maximum number of times that a generating unit can be started in an Operating Day under normal operating conditions.

  • Maximum Daily Limit means the maximum allowable "Daily Concentration" (defined above) when expressed as a concentration (e.g. mg/l), otherwise, it means the maximum allowable "Daily Quantity" as defined above, unless it is expressed as a flow quantity. If expressed as a flow quantity it means "Maximum Daily Flow" as defined in Section 22a-430-3(a) of the RCSA.

  • Total maximum daily load or "TMDL" means the sum of the individual wasteload allocations for point sources, load allocations (LAs) for nonpoint sources, natural background loading and a margin of safety. TMDLs can be expressed in terms of either mass per time, toxicity, or other appropriate measure. The TMDL process provides for point versus nonpoint source trade-offs.

  • Maximum Face Amount means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Daily bag limit as used in s. NR 19.275, means the maximum number of a turtle species or group of turtle species which may be taken by a person each day.

  • Minimum Dilution Reserve Percentage means, at any time of determination, the product (expressed as a percentage and rounded to the nearest 1/100th of 1%, with 5/1000th of 1% rounded upward) of (a) the average of the Dilution Ratios for the twelve (12) most recent Fiscal Months, multiplied by (b) the Dilution Horizon Ratio.

  • Minimum Balance means, at any time, an amount that equals the product of: (a) the average Borrowing Base (or, if less on any given day, the Revolving Loan Commitment) during the immediately preceding month multiplied by (b) the Minimum Balance Percentage for such month.

  • Maximum Daily Quantity means the daily volume of Gas or Liquids, expressed in 103m3, identified in a Shipper's Interruptible Transportation Service Agreement that Transporter agrees to receive from Shipper under Toll Schedule Interruptible Full Path Service, Toll Schedule Interruptible Receipt Service or Toll Schedule Interruptible Delivery Service, as applicable.

  • Maximum Undrawn Amount means with respect to any outstanding Letter of Credit, the amount of such Letter of Credit that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Utilization Fee Rate means the percentage set forth in Schedule 1 hereto beside the then applicable Level.

  • Daily Maximum Limit means the maximum allowable discharge of a pollutant during a calendar day. Expressed as units of mass, the daily discharge is cumulative mass discharged over the course of the day. Expressed as a concentration, it is the arithmetic average of all measurements taken that day.

  • Face Amount means, when used with respect to this Security, the amount set forth on the face of this Security as its “Face Amount.”

  • Maximum Drawing Amount means at the time in question the sum of the maximum amounts which LC Issuer might then or thereafter be called upon to advance under all Letters of Credit which are then outstanding.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Program Fee Rate is defined in the Fee Letter.

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

  • Applicable Unused Line Fee Percentage means, as of any date of determination, the applicable percentage set forth in the following table that corresponds to the Average Revolver Usage of Borrowers for the most recently completed month as determined by Agent in its Permitted Discretion; provided, that for the period from the Closing Date through and including the last day of the third full calendar month following the Closing Date, the Applicable Unused Line Fee Percentage shall be set at the rate in the row styled “Level II”; provided further, that any time an Event of Default has occurred and is continuing, the Applicable Unused Line Fee Percentage shall be set at the margin in the row styled “Level II”: I > 50% of the Maximum Revolver Amount 0.375 percentage points II ≤ 50% of the Maximum Revolver Amount 0.50 percentage points The Applicable Unused Line Fee Percentage shall be re-determined on the first date of each month by Agent.

  • Maximum Lifetime Mortgage Rate The maximum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.

  • Applicable Commitment Fee Rate means the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Commitment Fee.”

  • Unused Fee Rate means 0.50% per annum.

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Average Daily Availability means the average daily Availability for the immediately preceding Fiscal Quarter.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such date is equal to or greater than 5.00%.