Minimum daily balance

In banking, a minimum daily balance is the minimum balance that a banking institution requires account holders to have in their accounts EACH day in order to waive maintenance fees.

A minimum average daily balance is the minimum average balance that a banking institution requires account holders to have in their accounts each day in order to waive maintenance fees. It is computed as the sum of daily balances in a billing period divided by the numbers of days. Sometimes confusion is aroused among bank customers because of its difference from "average balance".