Do I need to keep a minimum amount of money in my account?


Some accounts have minimum balance requirements — that is, a minimum amount of money that banks require you to keep in your account from month to month. If you don't manage to do so, you may have to pay a fee. While maintaining a minimum balance may not seem like a big deal in the beginning, keep in mind that you might need access to those funds in case of an emergency. Once you dip below the minimum balance, it can be hard to get your head above water again. When choosing an account, make sure it is a good fit for wherever you are in your financial journey.

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