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<p>[QUOTE=&quot;GoldFinger1969, post: 26051164, member: 73489&quot;]When banks put minimums into effect it&#039;s usually to cover the costs of the account.&nbsp; Trust me, they don&#039;t make any money on an account totalling $500 or $1,500.&nbsp; The lower figure is more acceptable today with interest rates higher.</p><p><br /></p><p>When I worked for 2 private banks it cost us about $3,000 in labor and back office and reporting costs to maintain the account.&nbsp; So it really didn&#039;t pay for us to accept accounts under $500,000 unless it was to please a large client&#039;s kids or something like that.[/QUOTE]</p><p><br /></p>

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