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When is the $25,000 combined deposit account balance calculated?

April 26, 2017account balance calculated combined deposit

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When is the $25,000 combined deposit account balance calculated?

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When you make an online equity trade, Banc of America Online Investing, Powered by Merrill Lynch determines whether you meet the balance requirement to qualify that trade for the commission waiver. First, Banc of America Online Investing, Powered by Merrill Lynch adds the average collected balances in your checking and savings accounts for the prior calendar month to the balances in your CD and FDIC-insured IRA accounts as of the prior business day. If this calculation reflects a combined balance of less than $25,000, Banc of America Online Investing, Powered by Merrill Lynch then makes a second calculation to see if the trade qualifies by adding the current balances in your checking, savings, CD, and FDIC-insured IRA accounts as of the prior business day.