Minimum Monthly Balance

Definition

• The least amount of money that has been in a bank account during the whole month.

Synonyms
lowest monthly surplus

Alternate Spellings
Minimum Balance

Related Terms and Acronyms

• Balance (bal.) — Abbreviation,
  • The amount of money in your account.
• Minimum Average Balance to Avoid Fees — Definition,
  • The balance in the account from day-to-day must average this amount when calculated. If the account balance falls below this amount you will be subject to the monthly charge and/or per usage transaction charges.
• Minimum Balance to Open an Account — Definition,
  • The minimum initial deposit required to open a bank account.
• Statement — Definition,
  • A detailed record of transactions in a bank customer's account(s) for a certain period, usually each month, which shows debits, credits, transfers, payroll deposits, account balance, cheque fees, service and interest charges, ATM activity, etc.