A checking account deposit is a liability on a bank's balance sheet. They must keep a certain amount of the deposit in reserve to meet the withdrawal demands. Sure, the sum of all these deposits might add up to something significant, and to most smaller banks it does, but a bank the size of Bank of America has no need for your $500 checking account that they have to service for all your transactions. They have large, commercial clients with tens of thousands of dollars and more in deposit. Hell, even smaller banks don't care for people with $400 in their checking account. They can't do shit with that but hold on to it for you, and that's why you'll get hit with service charges and other fees on an account that small.
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