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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

revolving credit

Banking; General banking

A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for ...

right of rescission

Banking; General banking

Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, ...

safe deposit box

Banking; General banking

A type of safe usually located in groups inside a bank vault and rented to customers for their use in storing valuable items.

safety deposit box

Banking; General banking

A type of safe usually located in groups inside a bank vault and rented to customers for their use in storing valuable items.

safekeeping

Banking; General banking

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

satisfaction of mortgage

Banking; General banking

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

service charge

Banking; General banking

A charge assessed by a depository institution for processing transactions and maintaining accounts.