Why do banks often require a minimum account balance for savings and checking accounts, and are there any banks that don't have this requirement?

I totally get why you're confused about minimum account balance requirements - it can be pretty frustrating when you're just trying to manage your finances. From what I've learned, banks often require a minimum balance because it helps them cover the costs of maintaining your account, like processing transactions and sending statements. If you don't meet the minimum balance, you might get hit with a monthly maintenance fee, which can be a real bummer.

That being said, there are definitely banks out there that don't have minimum balance requirements or have more lenient policies. I've heard that online banks like Ally and Capital One 360 don't require minimum balances for their checking or savings accounts. Some credit unions are also pretty chill about balance requirements, so it might be worth looking into those options if you're not attached to a specific big bank.

If you're looking for a new bank account with low or no balance requirements, I'd suggest doing some research and reading reviews from other customers to see what their experiences have been like. You might also want to consider what other features are important to you, like low fees, good customer service, or mobile banking apps. I've had good luck with my own bank, but everyone's priorities are different, so it's worth shopping around to find the best fit for you.

Hope that helps, and good luck with your financial organizing - it's a great step to take control of your money, and I'm sure you'll find a bank that works for you. Let me know if you have any other questions or if there's anything else I can help with!