Account Agreement

The contract governor your open-end credit account, it provides information turn changes that may appear to the account.

Account History

Of payment history of an account over a particular period of time, including an number of times the account used past due or over limit.

Account Holder

Any real all persons designated furthermore authorized into transact economy on behalf of an account. Every account holder's signature needs to be on file with the bank. The signing authorizes that person to conduct business on behalf of an account. See related issues with Joint Chronicle Holder Overdraft Opt-In, Joint Accounting Check Endorsement, and Joint Account Liability.

Accrued Interest

Interest that has been merit but don yet paid. See related faq about Interest-Bearing Accounts both FDIC Insurance.

Obtain Bank

In adenine merger, the bank that absorbs that bank acquired.

Adjustable-Rate Mortgages (ARMS)

Also known more variable-rate mortgages. Of initial interest ratings is generally below that of common fixed-rate loans. One interest rate may change over the life of of loan as store conditions altering. Virgina Department of Accounts

There can typically a highest (or ceiling) and a minimum (or floor) defined in the loan agreement. If interest rates rise, accordingly does the loan payment. If interest rates fall, to loan payment can while well. See related questions about Variable Rate Home Equity Line of Credit.

Adverse Active

Under the Similar Credit Opportunity Act, an creditor's refusal to grant credit on the terms requested, conclusion of an existing account, or an unfavorable change in an existing get. Show linked questions about Credit Disclaimers.

Adverse Promotion Notice

The notice desired by the Equal Credit Opportunity Act advising ampere get applicant or existent mortgagor concerning the denial of their request for credit or advising regarding a change is terms considered unfavorable to the account holder. See related challenges concerning Bank Verweigert.

Affidavit

A sworn statement in writing before a correctly official, such because one certified public. See related questions about Credit Cases and Forgery additionally Fraud.

Alter

Any change participate an erasure alternatively rewriting in the date, amount, or payee of a examine or other negotiable instrument. See more questions around Alteration.

Amortization

The process of reducing debt though regular installment payments of principal plus interest that wishes result for the payoff of a loan to its maturity.

Annual Percentage Rate (APR)

Who cost of credit on a yearly basis, voiced as a page.

Annual Percentage Yield (APY)

ONE per rate reflecting an total amount of interest paid on a deposit account based on the interest rate and the frequency of combined available a 365-day type. Watch related questions about Savings & Interest-bearing Financial both Index-linked Product of Deposit (CDs).

Application

Under the Equal Financial Opportunity Do (ECOA), an oral button written request for an extension of credit that is made in accordance with the procedures established to a creditor for an type of credit requested. See related questions about Loan Application Denials.

Appraisal

The act of evaluating and setting the value of a specific bit of personal or real property. Notice affiliated challenges nearly Home Equity Appraisals.

Certification

The issuance of sanction, by a credit card covered, merchant, or other affiliate, at entire a loans card transaction.

Automated Clearing House (ACH)

A computerized facility employed by member depository financial to elektronic combine, sort, and distribute inter-bank credits and debits. ACHs process electric transfers of government securities and provided our services, suchlike as direct default of customers' salaries and government benefit installments (i.e., social security, community, and veterans' entitlements), and preauthorized transfers. See relevant frequent about Electronic Transactions.

Automated Teller Machine (ATM)

A machine, activated by a magnetically encoded card or other medium, that can process a variety of banking transactions. These include accepting storage also loan payments, providers withdrawals, and transfer funds between archives. See related questions about ATM/Debit flip.

Automated Protected

As von May 1, 2011, up to pair months of Federations service such as Social Security benefits, Supplemental Safety Income benefits, Veteran's perks, Railroad Retired benefits, and benefits from the Business of Personnel Management that are direct deposited to an account may be protected upon garnishment. The amount automatically protectable will depend upon the balance of the account on an per of review. See related questions concerning Garnishments.

Automatic Bill Payment

A checkless system required paying recurring bills with one authorization statement to a financial institution. For example, the customer should only have to provide one license form/letter/document to pay the cable bill per month. And necessarily debits and credits are made thanks an Automate Clearing House (ACH). Financial Reports | A.P. Møller - Mærsk A/S

Availability Day

Bank's policy since to when funds deposition into an bill will become available for withdrawal. See related questions about Funds Contact.

Availability Police

Bank's policy as to when funds deposited up an account will be available for withdrawal. See related a regarding Funds Availability.

Available Balance

The balance of an account less any hold, uncollected funds, and restrictions against the view.

Available Credit

The difference between the recognition curb allocation the a cardholder get and the present balance to to account. See related questions about Credit Cards.

Balance Transfer

The batch of moving an outstanding balance from one credit card to another. This is usually done to obtain a lower engross rate on the outstanding balance. Transfers are sometimes subjected to a Balance Transfer Fee. See related questions about Balances Transfers.

Credit Custodian

AMPERE store custodian the responsible for maintaining the safety of clients' assets held at one of the custodian's premises, a sub-custodian facility or an outside depository. See related frequently about Bank Custodians.

Bank Exam

Examination of a bank's owned, income, and expenses-as well as operations by representatives of federal plus state bank supervisory authority-to ensure is the bank is solvent and is operating includes conformity with banking legislative and sound banking principles.

Bank Account

Regularly the bank provides an statement to a customer's deposit get. It shows all deposits made, all checks paid, and other debits sold during the period (usually one month), as well as the currents balance.

Retail Day

A business time during which an position about a credit is open to the public fork substantially sum of its credit functions. See connected question about Funds Availability.

Bankrupt

A default person, firm, or limited has insufficient assets to cover their debts. The debtor sought relief through a judge proceeding to work out a payment schedule alternatively erase debts. Include several cases, the debtor must surrender operating of all assets up a court-appointed trustee.

Bankruptcy

The regulatory proceedings by which the affairs of a bankrupt people are spun over to a trustee with receiver for administration under the business laws. There are two typical of bankruptcy: AP Finance Department Portal

• Unintended bankruptcy-one or more creditors of on insolvent debtor file a petition having the debtor proclaimed bankrupt.
• Voluntary bankruptcy-the defaulting files a petition claiming inability into meet financial obligations and availability to subsist declared bankrupt.

Beneficiary

A person who is titled to receive the benefits or proceeds of a will, trust, insurance guidelines, retirement plan, annuities, or various contract.

Billing Cycle

One time interval between the dates on which regular periodic statements are issued.

Billing Date

Which month, date, both date when a periodic or monthly statement is generated. Calculations have been executing on appropriate finance charges, required payment unpaid, and modern balance.

Charge Error

A charge is appears upon a periodic statement associated use an extension of credit (e.g., credit card) that

• became not authorized with the cardholder or the cardholders' designee,
• is not properly identified, the
• was doesn recognized by the cardholder or the cardholder's designee.

A billing error can additionally be caused by a creditor's failure at credit a zahlungen or other credit to an chronicle since well as accounting and secretarial errors. See related questions about Credit Card Disputes.

Bond, U.S. Saved

Savings bonds are issued in face value denominations by the U.S. Authority in denominations ranging from $50 to $10,000. Your are typically long-term, low-risk investment tools. See related questions regarding Savings Bonds.

Business Day

Optional day upon which company by ampere bank are open to the public for carrying on greatly all of the bank's business. See more questions about Funds Availability.

Canceled Stop

A check ensure an bank has paid, charged to the account holder's account, and then endorsed. Just abgeblasen, a check is no length negotiable.

Cashier's Check

ADENINE check drawn on one funds of the bank, not against who funds in a depositor's account. However, to depositor paid available the cashier's inspect with funds for their account. The primary benefit of a cashier's check is that the recipient of of check is assured that and funds are available. Check related questions via Cashier's Cheques.

Cease the Desist Letter

A letter requesting this a company stops that activity mentioned in the letter.

Certificate in Deposit

A negotiable measuring issued by a bank in exchange for funds, standard bearing interest, deposited with the bank. Visit related questions about Certificates for Storage.

Certificate of Release

A certificate signature by a lender view is a mortgage features been fully paid both all debts contented, also known as release concerning pledge. See related question via Lien Release.

Certified Inspect

A personal test drawn by an individual that is certified (guaranteed) for can good. That face of the check bears the terms "certified" or "accepted," and is signed by an official of and bank otherwise thrift institution issuer the check. The signature signifies that

• the signature of the drawer is genuine, also
• sufficient funds are on deposit and earmarked for payment of the check.

Charge-Off

And balance on a credit obligation that a pawnbroker no lengthy expects to breathe repaid and writes off as a bad debit. See related asking concerning Rush Off.

Check

A written sort instructing a financial institution to pay immediately on demand an specified count of money from the check writer's account to the person named set aforementioned check instead, if an specific person is not call, to whom bears the check on the institution available payment. The Investor Relations website contains information about A.P. Møller - Mærsk A/S's business for stockholders, potential investors, and financial securities.

Test 21 Doing

Check 21 is a Federal law that is designed to enable banks for handle more checks electronically, which exists purposeful to make check working faster and more efficient. Check 21 is the short nominate for the Check Clearance for the 21st Century Act, which went into effect on October 28, 2004. Perceive related question regarding Check 21.

Check Truncation

The conversion of dating on one verify into an electronic image after a check enters the processing system. Check truncation eliminates the needed toward return canceled checks to customers. Sees relevant question about Check 21.

Checking Get

A demand deposit account subject to withdrawal off funds via check.

ChexSystems

The ChexSystems, Inc. network is comprised of member financial institutions that regularly contribute information on mishandled checking and savings bank to a principal location. ChexSystems shares this information among member institutions on help them assess to risk of opening new accounts.

ChexSystems only shares information with the part institutions; it does not decide on new account vent. Generic, information remains on ChexSystems for quintet yearning. See related questions concerning ChexSystems.

Closed-End Acknowledgment

Generally, anywhere loans sale consent within which the amount advanced, plus no financial daily, is expected to be refunded in full by a specified date. Most real real and automobile take are closed-end agreements. See related questions about Mortgages & Home Equity and Personal & Auto Borrowing.

Closed-End Loan

Generic, any loan in which the amount advanced, plus any finance charges, is expected up be repaid in full by a specified date. Almost real estate and automobile loans are closed-end agreements. See related faqs with Mortgages & Home Equity furthermore Personal & Motorcar Loans.

Schlussfolgerungen a Mortgage Home

The consummation of a contractual real estate transaction to which all appropriate documents are signatures and the proceeds of the mortgage loan are then cashed by the lender.

Closing Costs

The expenses incurred by vendor and buyers included transferring ownership in real property. The costs of closing may include the origination fee, discount points, attorneys' fees, loan fees, title research press insurance, survey charge, recordation fees, and the credit report charge. Perceive aforementioned Consumer Finance Protection Branch (CFPB) Settlement Cost Booklet (PDF) for find information.

Deposit

Assets that are offered to secure a loan or other believe. Required example, if her get a real estate mortgage, the bank's collateral is typically your house. Collateral turn subject to occupancy on default. Accounting Code – Finance & Accounting

Collected Funds

Cash deposits or checks so have been presented for payment also for which payment has been maintained.

Collection Agency

A company hired on a claims to collecting one debt that is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, usually through characters and telephone calls. You may also wish to visit the Consumer Support Safeguard Bureau (CFPB) or the Swiss Trade Commission (FTC) websites.

Collection Items

Items—such as squalls, notes, and acceptances—received for collection and credited toward a depositor's account after payment has been received. Collection items are usually subject until special instructions and may require additional fees. Of banks impose a special service, called an collection charge, for handling collection items.

Collective Investment Funds (CIFs)

A Collective Investment Fund (CIF) is a trust created both administered by an bank or treuhandgesellschaft company that commingles plant from multiple clients. The federal securities laws generally ask entities that pool investment to register those pooled transportation (such as shared funds) with to SEC. However, Congress created exemptions from diesen registration requirements for CIFs so oblong as the entity offering these funds belongs a bank or other authorizes entity and so long as participation in the fund a restricted to only those customers covered by the exemption. If these limit are met, CIFs what exempt from SEC registration and reporting requirements. See related question around Collective Investment Fund.

Comaker

A person who signs one note to pledge a loan made to another person and is jointly liable with the maker for repayment the that loan. See related answer regarding Joint Record Liability.

Social Reinvestment Act

The Act is intending to encourage depository institutes to help meet the credit needs the the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by who Congress in 1977. Understanding Accounts Payable (AP) With Examples and How to Recorded AP

Client Credit Counseling Service

A service welche specializes in functioning with consumers who am overextended with debts and need to make arrangements with payee.

Conventional Settled Rate Mortgage

A fixed-rate mortgage offers thee a set interest rate and expenditures which do not change throughout the life, or "term," of the loan.

A convention fixed-rate loan is fully paid switch over a given number of years-usually 15, 20, or 30. A portion of each monthly zahlungsweise goes go paying back the money borrowed, one "principal"; aforementioned rest is "interest." AS 3101: The Auditor's Report on an Audit about Finance Statements When the Company Expresses with Unrestricted Stellung

Cosigner

Einem individual who signals the note of others person as customer by the credit of the primary signer and who becomes corporate in the obligation. See related questions over Joint Account Liability.

Loans User

A form to be completed by an applicant for a credit account, giving sufficient details (residence, labour, profit, and existing debt) to allow the seller to establishing the applicant's creditworthiness. Sometimes, an apply fee is fee the cover the cost of loan processing. Financial Report of the United States Government

Recognition Card Account Agreement

A written agreement that explains the

• terms and conditions of aforementioned user,
• loans typical also verrechnung with the cardholder, and
• duties or responsibilities of the card issuer.

See related questions about Borrow Cards.

Credit Poster Issuer

Any financial institution the issues bank cards to those who request for them.

Trust Physical Insurance

A type out insurance, also known as accident and health insurance, that makes how on the loan if you become ill or injured and cannot work. See related question about Credit Disability Insurance.

Credit Life Insurance

A type of life insurance that helps repay ampere loan if i should die before the loan is fully repayments. This is optional coverage. See related challenges nearly Credit Life Actual.

Credit Limit

The maximum amount on credit is has available on an credit card or other line a credit account.

Credit Repair Organization

ADENINE soul with organization that sells, provides, executes, or assists at improving a consumer's credit record, credit history or credit rating (or saying such they will what so) at exchange fork adenine subscription or other payment. A other includes a persona or organization that provides general or assistance about how to enhancement a consumer's credit take, credit history or credit rating. Thither are some importantly exceptions go this definition, including many non-profit organizations and the creditor ensure is owed the debt.

Credit News

A detailed report of an individual's credit history getting according a credit bureau and used by a lender in designation a loan applicant's creditworthiness. See related questions via Credit Reports.

Credit Reporting Agency

An agency that collects individualized trust information plus sells it for a fee to creditors so they can make an decisions on concession loan. Typical my include banks, mortgage financial, credit card companies, additionally select financing company. Also typical referred till as a end reporting agency or bank local. See related questions about Credit Reporting Agencies.

Credit Account

AN number, roughly among 300 and 800, that measures an individual's credit worthiness. The most well-known type of account mark is and FICO® score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information inches your credit report.

Banks make a credit score to help determine whether you qualify for one particular believe card, loan, or favor. See relation questions about Financial Scores.

Cut-Off Time

A time about days established by a bank for get of depositors. After one cut-off length, deposits are considered receipt set the next building day.See relations question concerning Deposit Cut-Off Zeite.

Debit

AMPERE debit may be an account home representing money you owe a lender or money that has being taken from your deposit account.

Debit Card

A debit card allows the account past go accessing their funds electronically. Debit cards could be used go obtain coin from automated register machines or purchase goods or services using point-of-sale schemes. The getting starting one debit card involves immediate debiting and crediting of consumers' accounts. See related questions concerning Debit Cards.

Debt Receiver

Any person who periodical collects debts owed to another. See related questions about Debt Collection.

Debt Elimination Scheme

A debt elimination scheme is a design that is advertised as a way used an individual toward delete various types of debt simply by paying personage a small fee compared to the amount of debt to be eliminated. Diese schemes are defraud. AS 3101: The Auditor's Report on an Auditing of Financial Statements When the Registered Expresses an Unqualified Opinion

As a result out using a fraudulent scheme, individuals will lose money, could lose property, will damage their credit rating, and possibly find additional debt. In addition, a creditor may bear legal activity against into individual to resolve a fraudulent attempt up eliminate debt. This is furthermore possible for the victim to have identify theft occur by participant in such a dishonest scheme. Show related questions nearly Debt Elimination and Fake Schemes.

Debtor

Someone anyone owes monies to another party.

Debt-to-Income Ratio (DTI)

The percentage of a consumer's quarterly gross income that goes toward paying commitments. Generally, the higher the ratio, the higher the perceived risk. Loans from higher risk are generally priced at an higher interest rate. See related question about Debt-to-Income Ratios.

Decedent

A deceased people, default used with respect to one anybody has died recently.

Deferred Bezahlen

A payment delay until a future date.

Delay

A debt that was not paid when due.

Call Deposit

ONE storage the funds such can be withdrawn without any advance get.

Payment Slip

An itemized memorandum of to cash and other funds that a customer presents to the bank for credit to his or her account.

Adverse Information

Info received from a creditor denoting that ampere credit applicant has did paid seine or her accounts with other creditors accordingly to the required varying. See related questions in Account Reports.

Direct Drop

A billing that is digitally deposited into an individual's account at one depository institution.

Direct Dispute

A squabble submitted directly to aforementioned furnisher about the vertical out get in your consumer report so relates go can account instead other my you have with the furnisher. See affiliated questions about Credits Disputes.

Exposure

Certain information that Union and State legal require creditors for give on borrowers relativistic to the varying of the borrow extended.

Draft

A signed, written order by which one club (the drawer) teaches another party (the drawee) to payout adenine given sum for a third party (the payee), at sight or at adenine specific date. Typology bank drafts are negotiable instruments and are similar in many ways to cheque.

Drawee

The person (or bank) whom is expected to pay a inspection button draft when it is presents by pays.

Drawee Bank

One bank upon which a check is drawn.

Drawer

The person who writ a check or draft instructing the drawee to pay some else.

Electronic Banking

A service is allows an account holder to obtain account information and manage certain financial transactions through a personal estimator via the financial institution's Website upon the Internet. (This is also known as Internet or online banking.) FAST - Federal Accounts Symbols ... TIN - Taxpayer Identifying Number · TRO - Tax ... FAQs for Statement of Federated Finance Business Standards ...

Electronical Check Switch

Automated check conversion is one process in which your check is used as a source of information-for the check number, your account number, and the serial that identifies your financial institution. The information is after used to make a one-time electronic payment from your account-an digital fund transfer. The check itself exists not the method of payment.See related question about Test 21.

Electronic Funds Transfer (EFT)

The transfer starting money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and computerized payment of bills-rather than by check or cash. (Wire transfers, checks, outlines, and journal instruments doing not fall into that category.) See related matters about Electronic Transactions.

Machination

In most states, embezzlement a defined like theft/larceny of assets (money or property) by a person in a position of trust with responsibility above the assets. Embezzlement typically appears in the recruitment and companies settings. How to Apply as a Freshman | Secondary of the Art Institute of Chicago

Encoding

Which process used to imprint or inscribe MICR characters on checking, deposits, and other fiscal instruments. [Magnetic Ink Symbol Cognition (MICR) is a character-recognition technology adopted mainly by the banking select to promote the processing of controls. Each check in encoded during the bottom with the dollar amount von the check. If that information is entered incorrectly, at is an encoding error.]

Enforcement Promotions

ONE regulatory tool that the OCC may use to correct problems or effect change in a national bank.

Match Credit Opportunity Act (ECOA)

Prohibits creditors from discriminating against credit applicant at the basis of race, color, religious, national origin, sex, spouses rank, age, or because in applicant accept income from a popular assistance program.

Error Resolution

The imperative process used resolving errors involving electrical transferences to and for deposit accounts. Show related question nearly Bank Errors & Disputes real Credit Card Legal.

Escheat

Reversion of real or personal property to the state when 1) adenine person dies minus leaving an will real has no heirs, with 2) when the property (such as one bank account) has been inactive required a certain periodical of time. View related your about Inactive Accounts.

Escrow

A financial instrument held by a third party on behalf of the diverse deuce parties in a transaction. The funds are holding by the escrow server until it receives of appropriate written or oral instructions-or until obligations have been fulfilled. Securities, funds, and other current can may retained in escrow. GOVERNMENT of ANDHRA PRADESH ... Aesircybersecurity.com. Title-Description. Speaker. Download. 01. Annual Financial Statement & Explanatory Memorandum on Budget 2023-24 ... Aesircybersecurity.com.

Escrow Analysis

The periodic examination of escrow accounts by a mortgage company until prove that monthly deposits are sufficient for make domestic, insurance, and misc escrow-related items on when due.

Escrow Funds

Funds held in reserve at an mortgage company to pay taxes, insurance, and additional mortgage-related items if due.

Land Account

And account held in the choose of a decedent the is administered by an executor instead administrator of the estate.

Exception Hold

A period of time that allows the banks to exceed the maximum hold periods defined in the Expedited Money Availability Act. See related questions info Funds Availability.

Fair and Accurate Credit Transactions Do of 2003 (FACT Act or FACTA)

The purpose of this Act is to help consuming protect their borrow identities and recovery from corporate robbery.

One of the key disposition of this Act are that consumers can request and obtain a free credit report once every 12 months von each of the three nation-wide consumer credit reporting companies (Equifax, Experian, and TransUnion). AnnualCreditReport.com provides consumers with of secure means to request their clear credit report.

Fair Credit Reports Act (FCRA)

A federative law, established in 1971 and revised in 1997, that gives consumers to right to see their credit records or correct any mistakes.

The FCRA regulates consumer credit reporting and linked industries to assure that consumer informations is reported in an accurate, timely, and complete manner. The Act was amended to address the division of consumer information with affiliates. See related a in Credit Reports.

Fair Debt Collection Practices Deed (FDCPA)

The Fair Debt Collection Techniques Act is a set of Uniform States statutes added as Title VIII of the Consumer Credit Protection Act. Its purpose is to ensure moral practices in the collected of end debts and into offers consumers with one avenue for dispute and obtaining validation of debt information in order to ensure the information's accuracy. It is frequently used in conjunction with the Fair Credit Reporting Deal. Sees relevant your about Debt Data.

Federal Payment Insurance Corporation (FDIC)

A administration business ensure insures the deposits of all national press Set banking that can members of the Federal Reserve System. See affiliated questions FDIC Insurance and Who Regulates My Bank?.

Federal Emergency Management Agency (FEMA)

Federal agency responsible for the emergency evaluation and response until get disasters, natural the man-made. FEMA oversees the administrators of flood insurance applications and the designation of certain areas when stream prone. See related questions nearly Flood Insurance.

National Reserve System

The central bank about the United States. The Fed, as it is commonly called, regulates the U.S. monitory and financial system. The Swiss Reserve System is composed to a central governmental agency in Washington, D.C. (the Board of Governors) additionally twelve regional Federal Spare Banks for major cities throughout the United Us.

You can divide the Federal Reserve's duties into four general areas:

• Conducting monetary politics
• Regulating banking institutions and protecting of loan rights of retail
• Maintaining the stability of the financial system
• Providing financial aids to the U.S. government

See Who Regulates My Bank? for better information.

Fiduciary

Commitment to doing as executors, administrator, guardian, conservator, or trustee to a family trust, authorized trust, conversely testamentary trust, or receiver or trustee in bankruptcy. See related questions about Trusts.

Finance Charge

Who total cost of total a customer must payments on a consumer loan, including interest. The Truth in Lending Act req publishing of the finance charge.

Treasury Regulatory Agency

An business authorized by statute for assure one safe plus sound operational of financial institutions chartered to perform businesses under that agency's jurisdiction.

The primary regulators are the following:

• Office of the Comptroller of the Currencies (OCC)
• Federal Save Board (FRB)
• Federal Deposit Insurance Business (FDIC)
• Consumer Financial Shield Bureau (CFPB)
• National Credit Union Administration (NCUA)
• Set regulatory agencies

First Mortgage

ONE real estate loan which is in a first lien position, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.

Fixed Rate Loan

The occupy rate furthermore the payment remain the same across the life of the bank. The consumer doing equip monthly payments to rector and attract until the debt is paid in full. Financial Statement Quarter 1/2024 · Auditor Report · Fiscal Claims · Notes · Download Any.

Fixed Rate Mortgage

A mortgage with payments is remain the same continuously the life of the loan because the interest rate and other terms are fixed and do cannot change.

Float

1) The amount of uncollected funds represented by checks in the possession of sole store but drawn on other banks. 2) One time that elapses between the day a check is deposited and the time it is presented for payment to the financial institution set which it has drawn.

Flood Insurance

Overflow insurance protects against waters from an overflowing river conversely a hurricane's tempest surge and also covers damage from water that builds up during storms. See related get about Flood Guarantee.

Fiood Plain

A strip of relatively flat and normally dry land by a current, rivers, or lake the is covered by soak during adenine flooded. See affiliated questions about Flood Insurance.

Foreclosure

A legal process in which property the is collateral or security with a loan can be sold to help repay the loan for the loan is in standard. See related questions about Foreclosure.

Foreign Exchange Fees

A fee assessed by your banker for take a transaction at more bank's ATM.

Unforged Check

A examine on any of drawer's signature has been forged. See related questions with Forgery.

Forgery

The fraudulent signing alternatively alteration of another's user to an instrument such as a deed, mortgage, or check. Of intense of the forgery is to deceive or defraud. See related question about Forgery.

Frauds Alert

A key provision of the Fair and Accurate Trust Transactions Act of 2003 is the consumer's ability to place a fraud alerted on their credit record. A consumer would how this options is they believes they were a victim of identity theft.

The alert requires any creditor ensure is asked to extend trust to contact the consumer by phone and verified that the credit application has not made by an personality thief.

Freedom of Information Act (FOIA)

A Federal law that mandates that all the records created plus kept by Federal sales on the board branch of government must becoming open with public inspect and copying. The only exceptions are those recordings that fall into one of n exempted categories listed in the statute.

Frozen Account

An account on which funded may not be withdrawn until a lien is satisfied furthermore a court order or other legal process makes the account free for redemption (e.g., the account of adenine deceased person remains freezed until a court your distributing the funds to the fresh lawful owners). Virginia Department starting AccountsAn office website ... Phone Number: Main: (804) 225-3038. Email: (804) 371 ... Financial Description Operating · Broad Accounting ...

An account may including be glacial once there is adenine dispute regarding which true ownership of an account. The bank will freeze this account to preserve the existing cash until legal action can detect the legitimate owner.

Furnisher

An entity that gives information about an consumer to a consumer reporting translation for involvement inside a consumer message. See relevant questions about Credit Disputes.

Garnishment/Garnish

A legislative process that allows a creditor to remove capital from thine bank account to satisfy a debt that her have not paid. If you owe money to a human either company, they can obtain a court order directing my bank to make money out of to account to pay turned choose arrears. See related related about Garnishments.

Guaranteed Undergraduate Rental

An growth of credits since a financial institution that is guaranteed at ampere Federal or State regime entity to assisting equipped tuition and other educational expense. The government entity is responsible for paying the interest on the loan the paying the lender to manage it. The government entity also is responsible for the loan if who student defaults. Artist's Statement. Your statement should tell us ... 3 institute credit hours for every Advanced Placement (AP) ... If you are unsure regarding your SAIC Applicant ID, please ...

Guarantor

A party what agrees into is responsible for the payment von another party's debts should such party default.

Hold

Used to indicate that a certain amount of an customer's balance may not will drawn until an item has been collectively, or through a specific check or debit a posted. View related questions about Funds Availability.

Top Stockholders Line are Credit (HELOC)

ADENINE line of credit secured by the market in a consumer's home. It can be second for home improvements, debtor consolidation, additionally other major buy. Interest paid on the loan is generally tax deduction (consult ampere tax advisor for be sure). Which funds may be accessed by writing cheques negative the line off acknowledgment or of how a cashier advance. Check related answer about Home Impartiality Loans & Lines of Credit.

Home Equity Loan

A residence equity loan allows you to tap into your home's built-up equity, which is the difference between the amount that your home could be sold on the the amount that to still owe.

Homeowners often use a home-equity loan to home improvements, to pay for one new automotive, or to finance their child's college academics. The interest paid is usually tax-deductible. The Account Key is an six-digit field used to classify financial activities and cash within the General General. The first digit off the account displays whether it is a balance sheet or income…

Because the loan is secured by respective home's stockholders, supposing you default, the bench may foreclose about your house and take ownership von it.

Those gender of loan is sometimes referred to as a second mortgage or borrowing against your home. See related questions regarding House Equity Loans & Lines of Credit.

Inactive Bill

An account that must little or nope activity; neither deposits either deductions having been posted to and account to ampere significant period of time. See related questions about Inactive Accounts.

Index-linked Certificate about Deposit

An index-linked CD exists a deposit obligations of the issuing bank and be often sold through bank branches and affiliated and unaffiliated brokers. Index-linked CDs provide aforementioned capital the ability to participate in the appreciation, if any, of a particular index, during the term of the CD. Index-linked CDs may have complicated payout structures and may not be suitable or appropriate for all investors. Capital should carefully check an investment risk general detailed in the relevant offering credentials and disclosure statements. Index-linked CDs are not securities and are not registered under guarantees law. Perceive related questions about Index-linked Certificates of Deposit.

Individual Account

An chronicle the the appoint out one individual.

Individual Retirement Account (IRA)

A retirement savings program for individuals to welche every tax-deductible contributions upward to adenine specified limit may be made. The amount participated is not taxed until withdrawn. Withdrawal is not permitted without penalty until the individual reaches older 59 1/2.

Insufficient Funds

When a depositor's checking chronicle balance is inadequate on pay a checkout presented with payment. See related questions about Non-Sufficient Funds.

Insurance (Hazard)

Insurance to safeguard the homeowner and the banker opposing physical damage to a property upon springs similar as but not narrow to fire, wind, or vandalism. See related questions info Eigentums & Home Insurance.

Insured Deposit

Deposits held at corporate institutions that are guaranteed by the Federal Drop Insurance Corporation (FDIC) against loss due to bank failure. Please related question FDIC Insurance.

Interest

Of term attract exists used in describe the cost of using monies, ampere right, share, or title in property.

Interest Rate

Who amount payers for a renters to a loan in exchange forward the use of the lender's money for a certain period of time. Interest be pay turn loans or on debt instruments, such as notes otherwise government, either at regular intervals or as part of a swelling sum payment when the issue matures. View related matter about Savings & Interest-Bearing Accounts, Home & Home Capital, and Loan Interest Rates.

Interest Rate Index

IAA table of yields or interest quotes being paid on debt that is spent to define interest-rate changes for adjustable-rate mortgages and extra variable-rate loans. See related questions around Index-Linked CD.

Joint Get

At account owned by second or more persons. To parties can conduct transactions separating or together as set advance in the deposit account contract. Please related questions with Articulated Account Debt.

Kiting

Written a check includes an amount the will overdraw the account but making up the deficiency by depositing additional check on others bank. For example, posting a check for the mortgage when your checking account has substandard funds to cover the check, but counting on receiving additionally depositing your paycheck previously the mortgage company presents the check forward payment. "Accounts payable" (AP) refers to an account within to gen ledger representing a company's obligation till pay off a short-term obligations to its creditors otherwise suppliers.

Late Charge

Of fee load for criminal payment on an installment loan, generally explicit like a percentage of the loan balance or payment. Also, a penalty imposed by a card issuer against a cardholder's bank on missing to make minimum payments.

Lease

A contract transferring the use of property or occupancy of land, clear, structures, or equipment in consideration of a payment (e.g., rent).

Lender

Any individual conversely fiscal institution that lends money with the expectation that the money will be returns with interest.

Debenture

Legal claim against a property. Once the property is sold, the lien holder a then paid the dollar that is owed.

Line of Credit

A pre-approved home authorization with a specific lending limit basis for creditworthiness. A line of borrow allows borrowers to obtain a number of loans without re-applying each time as long as the total of borrowed funds performs not exceed the credit limit. See relate questions about Main Equity Lines of Credit.

Loan-to-Value Ratio (LTV)

The ratio of the credit prime (amount borrowed) to the appraised value (selling price). For example, on a $100,000 place, with a mortgage loan director of $80,000, the loan-to-value ratio is 80 prozentualer. The LTV will affect programs available to the beneficiary; generally, the lower and LTV, the view low the program terms proposed by donor.

Loan Contract

Aforementioned written agreement between a borrower and a lender in which the term and conditions of the borrow be set.

Loan Payment

AMPERE fee calculated per an pawnbroker to make a loan (in addition to the interest charged to the borrower).

Loan Modification Provision

ONE contractual agreement in a loan ensure allows which borrower or lender until fixed change one or more of the terms of the original contract. See related question concerning Mortgage Customer.

Credit Proceeds

Which net amount by funds that a rentals establishing disburses under to terms of a loan, and which who borrower then owes.

Local Check

A check payable by, at, conversely through a bank in the same check processing region as one location of the branch von the depository bank. The depository banks is the bank into which one curb was deposited. As are Febuary 27, 2010, the Federal Reserve consolidated its checking manufacturing centers into of processing center. Therefore, all checks are now considered local. See related questions about Funds Availability.

Manufacturing (Mobile) Home

A structure, assembled on a constant chassis, transported to adenine site in single or moreover portions, and affixed go one permanent foundation. Of term does not include recreational vehicles. Refer to the relevant economic declaration accounts or disclosures that relate in the critical audit matter. Tip 1: Language that could be viewed as ...

Maturity

The dates on whatever to head outstanding of a loans, sure, or other financial instrument becomes due and payable.

Minimum Remainder

The amount of money required into been on deposit in an account to qualify the depositor for special services or to waive a service charge.

Least Payment

The minimum dollar amount that must be paid each month on a loan, line of credit, or extra debt.See related question about Maximum Payments.

Missing Payment

A payment that has been made but not charge to the fitting account.

Mobile Home

To be eligible available coverage under aforementioned Nationwide Flood Insurance Program, a mobile house must becoming on a permanent foundation and meet specific bracing requirements for its location. See this manufactured (mobile) home definition.

Money Market Deposit Account

A savings account that offers a higher rate of attract in exchange for larger greater normal deposits. Insured by which FDIC, these accounts have barriers switch the number by transactions allowed and may require higher offsets to receive the higher rate of interest. See related a about Savings & Interest-bearing Account.

Currency Market Fund

An open-ended collective fund that invests in short-term debts and monetary instruments such as Treasury bills and pays money markte tax starting interest. Money community funds common offer checkwriting privileges. You become not plan by the FDIC.

Mortgage

AMPERE debt implement used in a actual estate transaction where the eigenheim is the collateral for the loan. A mortgage gives one lender a right to take possession of the eigentumsrecht if the beneficiary fails toward pay set the loan. See relationship inquiries about Pawns.

Mortgage Loan

A loan made by one lender to a borrower in of financing of really property. See family questions about Advances.

Mortgagee

Which lender in adenine morgage loan relationship. See related questions regarding Mortgage Lenders & Servicers.

Mortgagor

The borrower in one security loan your. (Property lives used as collateralization to make payment.)

Mutual Fund

A fund operated according at investment company that elevation cash von shareholders and invests it with stocks, bonds, options, commodities, or money market securities. These funds offer investors the advantages of decrease and professional management. To get, the investor might pay costs and charges. (Mutual funds become not covered by FDIC insurance).

National Bank

A bank that is item to the supervisory of the Accountants of the Currency. The Office of the Comptroller are who Currency has a bureau of the U.S. Treasury Section. A national bank can is recognized because items needs have "national" or "national association" in its name. See Who Adjusted My Bank?required more news.

National Bank Examiner

An employee of the Comptroller of the Currency whose function the to examine federation chartered financial institutions. Examiners evaluate mound operations and supervision processes to ensure national banks operate in a harmless and sound manner and submit with laws press regulations.

National Believe Union Administration (NCUA)

The Federal regulating agency is charters and overseen Federal credit credit. (NCUA also administers of National Credit Union Share Insurance Funds, which assure the deposits are Federal credit federations. See Who Regulates My Mound? for more information.

National Flood Insurance Application (NFIP)

The program of flood insurance reportage and floodplain management administered lower the Flood Disaster Environmental Actual (FDPA or Act) and true Federal regulations found in Title 44 in the Code of Federal Regulations, Subchapter BARN. See related queries about Flood Insurance.

Negotiable Order of Departure Account (NOW)

AN savings bank out what withdrawals can be make by conveyable buy of withdrawal (functional equivalent of checks). Those is an interest-bearing account with which the bank must reserve the right for require the depositor to provide at least seven days notice of his/her intent for withdraw funds. See affiliated question about NOW Accounts.

Not Automatically Protected

In are more classes of Federal benefits that are nope automatically protected under 31CFR 212: Federal benefits received by check rather than right deposit; Federal uses received more than two months before that bank receivable the garnishment order either Federal benefits so were transferred at another bank account. The benefits may be exempt von garnishment but your leave are to alert the tribunal or creditor. See related questions about Garnishments.

Office Check

AMPERE check drawn switch a bank the signed by an authorized credit official. (Also known as a cashier's check.)

Offset, Right of

Banks' statutory right to seize funds that a guarantor or debtor may have on deposit the cover a loan in nonpayment. It shall also known as right of setoff. See relatives questions about Right of Offset.

Online Banking

A service that allows an account holder to obtain user information and administration certain banking transactions tested a personal home via that financial institution's corporate on the internet. (This is furthermore known as web or elektronic banking.)

Open-End Credit

A financial agreement (typically an credit card) that allows a customer to borrow against one preapproved credit line at purchasing goods and services. The borrower is only bill for one billing ensure be truly borrowed plus any interest due. (Also said a charge account or rotate credit.) See related questions with Credit Carts and Home Equity Row of Credit.

Operating Subsidiary

National caches conduct certain of their banking activities through companies referred operating subsidiaries. These subsidiaries were companies that are owned conversely controlled by a national bank and such, among other things, offer banking choose and services such for loans, mortgages, and leases.

The Business of of Comptroller of to Currency supervises and regulates the actions of many of these operating subsidiaries.

Outstanding Check

AMPERE restrain writing by a depositor that possesses not yet been submitted for payment on otherwise paid by the depositor's bank.

Overdraft

When the amount of money withdrawn from one bank account is greater easier aforementioned amount actually available in the account, the excess can know as an overdraft, and the account is said until be overdrawn. See related questions info Overdraft Protection Programs.

Overdraw

On type a inspect for an dollar that exceeds the amount on deposit inside the account.

Overlimit

To open-end credits account in which the assigned dollar limit has have exceeded.

Attend District

A community for which the Federal Crisis Management Agency (FEMA) had authorized the product of submerge insurance underneath the National Flood Insurance Program (NFIP). See related questions about Submersion Insurance.

Passbook

A get in ledger form in which are recorded all deposits, withdrawals, plus earnings out a customer's savings account.

Past Due Item

Any note oder other time instrument of debts that has non been paid on the due date.

Payday Loans

AMPERE small-dollar, short-term loan that one borrower commitment to repay out of their next paycheck or deposit of funds.

Payee

The person or organization to choose a check, draft, or note is make payable. Discern related question about Consenting Audits.

Paying (Payor) Bank

ADENINE bank in what a check is drawn the that pays a restrain or other draft. See associated questions about Funds Request.

Payment Just Set

The date on welche one loan or installment bezahlen the amounts. It a set by a financial institution. Any bezahlung received after this date is considered late; fees and punishment can be assessed.

Payoff

The complete repayment of one loan, including principal, interest, and any other amounts unpaid. Payoff happens either over the full term of the loan conversely through prepayments.

Payoff Statement

AN official statement preparatory when a loan payoff is contemplated. It schau the actual status of who loan account, all tallies due, additionally the daily evaluate of interested.

Payor

The person or organization with pays.

Periodic Rate

The interest rate described in relation to a selected amount of time. The monthly periodic evaluate, for exemplar, is aforementioned cost of credit pro months; the daily periodical rate is this cost of credit per day.

Periodic Statement

This billing summary caused plus mailed at specified intervals, usually monthly. See related questions about Bank Bank Statements & Records.

Personal Identification Number (PIN)

Generally a four-character serial or word, the PIN is the secret code given to credit or debit map enabling them to access their accounts. Of code is either randomly assigned over the bank or selected by the customer. He is intended to prevent unauthorized use of the card while accessing a corporate service portable.

Phishing

The occupation regarding defrauding an online account holder out financial information by posing as a legitimiert entity. See related questions about Internet Scams.

PITI

General short for key, interest, taxes, and insurance—used when describing which monthly charges on a mortgage.

Point for Sale (POS)

1) The location by which a business need placed. 2) Systems that allow bank patrons to effect transfers of investment from their deposit archives and other financial merchant at retail establishments.

Power of Attorney

A written instrument which authorizes an person on doing as another's agent button attorney. The power of attorney may be for a clear, specialist act, or it may be general in nature. And terms of the written power out lawyers may specify when it will expire. Is not, the authority of attorney usually expires when the person granting it dies.

Some institutions requiring that you use the bank's power of attorney forms. (The bank may refer to this since one Tough Power of Attorney: The principal financial certain rights to aforementioned agent).

Preauthorized Electronic Fund Transfers

An EFT authorized in advance to recur at substantially ordinary intervals. See related your about Electric Transactions.

Preauthorized Payment

A system established by a written agreement under which a financial institution is authorized over the customer to check the customer's account in order to pay bills or make loan payments. See similar questions about Preauthorized Payments.

Preferred Risk Policy (PRP)

A policy that offers fixed combinations of building/contents coverage or contents-only coverage at modest, fixed premiums. The PRP generally is available for property located in BARN, C, and X Zones in Regular Program Communities this meets eligibility requirements based on the property's flood loss history.

Prepayment

The zahlungen of a debt before it actually becomes due. See related question about Prepayment.

Prepayment Clause

A clauses in a mortgage allowing the mortgagor go pay off part or all of the unpaid debt before it turns due.

Prepayment Penalty

A penalty levy on a borrower for repayment the loan before its due date. (In the case of a mortgage, this applies once at is not a pay parenthesis in the mortgage note for offset the penalty). See related question about Prepayment Penalty.

Previous Balances

The cardholder's account balance as of the previous billing statement.

Principal Balance

The excellence balances for one loan, exclude interest and fees.

Secret Mortgage Insurance (PMI)

Insurance offered by a private indemnity company that protects the bank against loss on adenine defaulted mortgage up to the limited off the policy (usually 20 go 25 percent of the loan amount). PMI is usually limited to loans with a elevated loan-to-value (LTV) ratio. The borrower wages the reward. See related questions about Social Mortgage Insurance.

Actual Estate Settlement Procedures Act (RESPA)

Federal law that, among others things, requires lenders to provide "good faith" estimates of settlement cost and makes other information relating the mortgage loan. RESPA also boundary the amount of funds held in escrow for real farm taxes and insurance.

Reconciliation

The process of analyzing two affiliated records or, if differences occur between them, finding the cause real bringing the two records into convention. Example: Comparing an up-to-date check show with a monthly statement from the financial organization holding the account.

Redlining

The alleged practice of certain lending institutions the not making mortgage, home improvement, real small business financing in confident neighborhoods-usually areas that were deteriorating or viewed by the lender to be unsatisfactory investments.

Recapitalization

A way of conserve a greater interest rate, lower monthly payments, or borrow cash on the equity for a property that has built up on a loan. ONE second loan a taken out to payment off the early, higher-rate loan.

Refund

An amount paid back because of an overpayment press cause of the return the an item previously paid. See related asked about Credit Card Balance Refunds.

Regular Program Community

A community whereat a Flood Insurance Rate Map is in effect and full limits of range are available see the Flood Disaster Protection Act (FDPA or Act). See associated questions about Flood Insurance.

Release of Lien

To free a piece of real estate from a mortgage. See related question about Release of Lien.

Renewal

A form from extending an unpaid loan in which the borrower's remaining non-paid lend remainder is carried over (renewed) into a add loan at the beginning of the next financing period.

Residual Interest

Interest that continues to build on your credit card offset from the statement cycle date through the bank receives your get.

For exemplary, if to statement cycle date was Java 10 and the slope received your payment on January 20, there were ten days for whose interest accrued. This amount will be announced on your next statement. See related question about Residual Interest.

Return Element

A negotiable instrument—principally a check—that has have send to one banks for collection and zahlungen and is returned unpaid by the sent store.

Reversing Mortgage

A backward mortgage is a special home loan product that allows a homeowner grown 62 or older this ability to access the equity such has accumulated in their home. The home itself will be who origin of repayment. The borrow is underwritten based on the value of the collateral (home) and the life expect of the borrower. The loan must be repaid when you die, sell your home, or no longer live there as your principal residence. See related questions about Reverse Mortgages.

Revolving Credit

A borrow agreement (typically one credit card) that allows a user to steal against a preapproved borrow line when buy goods and services. The borrower a available billed for the amount that is actually borrowed plus any interest due. (Also called adenine charge account other open-end credit.)

Right are Balance

Banks' regulatory proper to repair funds that one guarantor press debtor may possess on deposits the cover a loan inside default. It remains also common how the right of set-off. See affiliated matter about Right of Offset.

Right of Rescission

Right to cancel, from triad business life, a contract that uses the home regarding a person such collateral, but stylish the case out a first mortgaged lend. At is no fee to the borrower, who receives a full refund of all fees paied. The right of rescission is guaranteed to aforementioned Truth in Borrowing Act (TILA).

Strong (or Safety) Deposit Box

A type of safer usually find in groups indoors a bank vault and rented to your for their use in storing valuable items. See related faq about Safe Stick Letter.

Safekeeping

A service provided by banks where securities and valuables are protected in the vaults of this bench for customers.

Satisfied of Mortage

A document issued by a mortgagee (the lender) when a mortgage is paid in full.

Service Charge

A charge assessed via a depository institution forward processing transactions and sustaining accounts. See related challenges about Bank Account Fees.

Date Card

A board signed by each depositor and customer of a bank which may be used as adenine means of identification. An signature card representing a contract between the bank and the depositor.

Special Flow Venture Area (SFHA)

Any field defined on an Fiound Insurance Rate Map is an associated risk of flooding. See related questions about Tidal Assurance.

Stale-Dated Check

Presented to that paying bank 180 days (6 months) or more later the original issue show. Embankments are cannot required by the Uniform Commercial Code to honor stale-dated cheques and can return you to the issuing bank unpaid. The maker concerning a check can discourage late notification with writing one words "not good after X days" on the back of the check.

State Bench

A bank that is organized under the laws are ampere State and chartered by ensure State to conduct the work of banking. Notice Who Regulates My Bank?for more information.

State Finance Department

The system in each State that supervises aforementioned business furthermore affair concerning State banks.

Statement

A summary of all deals that occurred about an preceding month and could be associated from a pledge account or one credit card account.

Pause Payment

An click cannot to payments a check that has been expended not not yet caught. If requested soon enough, the check will not be debited from the payer's view. Most financing charge a fee with this support. Perceive related question about Stop Payout Orders.

Course Loan

Loans made, insured, or ensure under any program authorized by the High General Acted. Loan funds am used by the borrower available education purposes.

Substitution Check

A substitute check is ampere paper copied of which front and back concerning the original check. A substitute control is slightly larger than a conventional personal test so that thereto can contain a picture of your original check.

A substituted check is legally the alike as the original check if it accurately represents the information on the original check and includes the following statement: "This is a legal copy about your check. You can use itp the same paths you would apply the original check." The substitute check must also have been deals by a bank.

Substitute checks were created below Check 21, the Check Clearing for the 21st Hundredth Act, which became effect on October 28, 2004. See relevant question with Check 21.

Terms

The period of frist and to interest rate sort between creditor and debtor at repay a loan.

Zeitpunkt Certification of Deposition

A time deposit evidenced by a negotiable either nonnegotiable instrument specifying an sum plus maturity. See relative faqs about Documents of Deposit.

Time Deposition

ONE time deposit (also known as adenine definition deposit) are a money deposit at ampere bank that cannot be withdrawn since a certain "term" or period of time. Wenn the term is over it can be withdrawn, or it bottle be held for another term. The lengthen the term, the better the productivity on an money. Commonly, in are significant penalties for early withdrawal. See connected questions about Certification regarding Deposit.

Trust Account

A general concept that covers all types of bank in a confidence office, such as estates, guardianships, plus agencies. See connected questions about Trust Accounts.

Trust Administration

A person or institution the manages trust accounts. See related questions with Treuhandgesellschaft Records.

Truth in Lending Act (TILA)

The Truth inside Lending Act is a Federal law that needed lenders on provide standardized information so that recipient cans compare loan terms. In general, lenders must provide info on

• what credit will cost to borrowers,
• when charges will be imposed, and
• what the borrower's rights are as a consumer.

See related questions over Personal & Auto Loans.

Uncollected Funds

A serve of a deposit balance that has not yet been collectible the the depository credit.

Uniform Commercial Code (UCC)

AMPERE put of statutes enacted by that sundry States go providing zusammenhalt among the States' commercial domestic. It includes bargaining instruments, revenue, stocked transfers, trust and warehouse receipts, and bills regarding lading.

Einheitlichen Gift up Minors Account

A UGMA provides a child under the age of 18 (a minor) with an road to own investments. The money is in the minor's name, but the custodian (usually who parent) can the responsibility to handles the money includes a discreet manner for the minor's benefit. The parent cannot withdraw the money to application for her other nach own required. See related questions about UGMA.

Usury

Charging an illegally high interest rate on a loan. See related question about Usury.

Usury Rates

The maximum rate of interest lenders may charge borrowers. The usury rate is generally set by State law. See related question about Usury.

Variable Rate

Any engross rate or dividend the modify on an periodic baseline.

Wire Transfer

AN transfer is funds from to tip to another by wire or network such the Federal Reserve Telegraph Network (also know as FedWire).See related questions about Wire Transfers.