Automated Clearing House (ACH)
An automatic clearing house is nationwide electronic clearing houses that monitors and administers the process of check and fund clearance between banks. The ACH is an electronic system and thus minimizes the human work in the process of clearance. It distributes credit and debit balances automatically.
Balance Transfer
A balance transfer is the repayment of a credit debt with the help of another source of credit. In some cases, balance transfer also refers to transfer of funds from one account to another.
Automated Teller Machines
Automated teller machines are basically used to conduct transactions with the bank, electronically. The automated teller machine is an excellent example of integration of computers and electronics into the field of banking.
Cash Flow
The cash flow is often defined as the liquid balance of cash as well as the bank balance that is available with an organization or a corporation. In some cases, the cash flow is also defined as the net amount of cash that is generated by the net income that has been generated by an organization or corporation in a particular time period.
Compound Interest
Compound interest is the interest that is 'compounded' on a sum of money that is deposited for a long time. The compound interest, unlike simple interest, is calculated by taking into consideration, the principal amount and the accumulated interest.
Internet Banking
Internet banking is a system wherein customers can conduct their transactions through the Internet. This kind of banking is also known as e-banking or online banking.
Long Term Debt
An amount owed for a period exceeding one year, from the date of last balance sheet/accounting year. Otherwise known as funded debts, long term debts refers to those loans, which become due, after one year from the last balance sheet/accounting year. Such debts can be a bank loan, bonds, mortgage, debenture, or other obligations.
Mortgage
A mortgage is a legal agreement between the lender and borrower where real estate property is used as collateral for the loan, in order to secure the payment of the debt. According to the mortgage agreement, the lender of the loan is authorized to confiscate the property, the moment the borrower stops paying the installments.
Zero Balance Account
A bank account which does not require any minimum balance is termed as a zero balance account.
An automatic clearing house is nationwide electronic clearing houses that monitors and administers the process of check and fund clearance between banks. The ACH is an electronic system and thus minimizes the human work in the process of clearance. It distributes credit and debit balances automatically.
Balance Transfer
A balance transfer is the repayment of a credit debt with the help of another source of credit. In some cases, balance transfer also refers to transfer of funds from one account to another.
Automated Teller Machines
Automated teller machines are basically used to conduct transactions with the bank, electronically. The automated teller machine is an excellent example of integration of computers and electronics into the field of banking.
Cash Flow
The cash flow is often defined as the liquid balance of cash as well as the bank balance that is available with an organization or a corporation. In some cases, the cash flow is also defined as the net amount of cash that is generated by the net income that has been generated by an organization or corporation in a particular time period.
Compound Interest
Compound interest is the interest that is 'compounded' on a sum of money that is deposited for a long time. The compound interest, unlike simple interest, is calculated by taking into consideration, the principal amount and the accumulated interest.
Internet Banking
Internet banking is a system wherein customers can conduct their transactions through the Internet. This kind of banking is also known as e-banking or online banking.
Long Term Debt
An amount owed for a period exceeding one year, from the date of last balance sheet/accounting year. Otherwise known as funded debts, long term debts refers to those loans, which become due, after one year from the last balance sheet/accounting year. Such debts can be a bank loan, bonds, mortgage, debenture, or other obligations.
Mortgage
A mortgage is a legal agreement between the lender and borrower where real estate property is used as collateral for the loan, in order to secure the payment of the debt. According to the mortgage agreement, the lender of the loan is authorized to confiscate the property, the moment the borrower stops paying the installments.
Zero Balance Account
A bank account which does not require any minimum balance is termed as a zero balance account.
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