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Banking

The business of a banker, banking involves an establishment for the loaning, holding, exchanging, or issuing of money. Also deals with the transmission of funds and the extensions of credit.

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Banking > General banking

charge-off

Banking; General banking

The balance on a credit obligation that a lender no longer expects to be repaid and writes off as a bad debt.

check

Banking; General banking

A written order instructing a financial institution to pay immediately on demand a specified amount of money from the check writer's account to the person named on the check or, ...

Check 21 Act

Banking; General banking

Check 21 is a Federal law that is designed to enable banks to handle more checks electronically, which is intended to make check processing faster and more efficient. Check 21 is ...

check truncation

Banking; General banking

The conversion of data on a check into an electronic image after a check enters the processing system. Check truncation eliminates the need to return canceled checks to customers.

checking account

Banking; General banking

A demand deposit account subject to withdrawal of funds by check.

ChexSystems

Banking; General banking

The ChexSystems, Inc. network is comprised of member financial institutions that regularly contribute information on mishandled checking and savings accounts to a central ...

closed-end credit

Banking; General banking

Generally, any credit sale agreement in which the amount advanced, plus any finance charges, is expected to be repaid in full by a specified date. Most real estate and automobile ...