I have a US Bank Question?

Question

What is the smallest amount of money I can have in a savings account before it gets closed? In other words, how much money do I have to keep in my account to keep it active?

Answer 1

It depends on the bank. For some banks it is $100, for others it is $500. Others have no minimum balance requirements. Call your bank and ask them.

Also, if your account is inactive for about a year (i.e. no deposits, no withdrawals), it is declared dormant and the state takes your money.