Explanation:
In the banking system, there is a minimum daily balance that is the minimum balance that a banking organisation requires account holders to have in their accounts each day in order to waive off the maintenance fees.
You need to check with your bank for the requirements of your bank.
If for an instance $500 is the minimum daily balance, it means your account should never go below that amount, not even for a day, or you will have to pay a maintenance fee.
The bank wants to make more money from your deposits in the savings account than you cost them to maintain your accounts.
