General banking

General banking

Banking related terms and phrases in general.

Contributors in General banking

General banking

Periodically the bank provides a statement of a customer's deposit account. It shows all deposits made, all checks paid, and other debits posted during the period (usually one month), as well as the ...

banking day

Banking; General banking

A business day during which an office of a bank is open to the public for substantially all of its banking functions.

bankrupt

Banking; General banking

A bankrupt person, firm, or corporation has insufficient assets to cover their debts. The debtor seeks relief through a court proceeding to work out a payment schedule or erase debts. In some cases, ...

bankruptcy

Banking; General banking

The legal proceedings by which the affairs of a bankrupt person are turned over to a trustee or receiver for administration under the bankruptcy laws. There are two types of bankruptcy: * ...

beneficiary

Banking; General banking

A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract.

billing cycle

Banking; General banking

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

billing date

Banking; General banking

The month, date, and year when a periodic or monthly statement is generated. Calculations have been performed for appropriate finance charges, minimum payment due, and new balance.