Regular Savings Minimum Amount

[Daniel]

Hi,

Does anyone know how the banks treats a regular savings account where the minimum amount is not met in either a single month or a series of months? Will they not pay interest on the entire balance for the month where the minimum amount was not met or how does it work? I guess each bank will handle the scenario differently.

Thanks,
Daniel

 

[Lightning]

Each bank will handle differently and some are less than clear about what they do in that situation. Often there is no penalty.

 

[Daniel]

Each bank will handle differently and some are less than clear about what they do in that situation. Often there is no penalty.

Thanks for that Ciaran.