3 Terms
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General banking
Banking related terms and phrases in general.
Industry: Banking
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General banking
wire transfer
Banking; General banking
A transfer of funds from one point to another by wire or network such the Federal Reserve Wire Network (also known as FedWire).
operating subsidiary
Banking; General banking
National banks conduct some of their banking activities through companies called operating subsidiaries. These subsidiaries are companies that are owned or controlled by a national bank and that, ...
outstanding check
Banking; General banking
A check written by a depositor that has not yet been presented for payment to or paid by the depositor's bank.
overdraft
Banking; General banking
When the amount of money withdrawn from a bank account is greater than the amount actually available in the account, the excess is known as an overdraft, and the account is said to be overdrawn.
overdraw
Banking; General banking
To write a check for an amount that exceeds the amount on deposit in the account.
overlimit
Banking; General banking
An open-end credit account in which the assigned dollar limit has been exceeded.
participating community
Banking; General banking
A community for which the Federal Emergency Management Agency (FEMA) has authorized the sale of flood insurance under the National Flood Insurance Program (NFIP).
