20 Terms
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General banking
Banking related terms and phrases in general.
Industry: Banking
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General banking
passbook
Banking; General banking
A book in ledger form in which are recorded all deposits, withdrawals, and earnings of a customer's savings account.
past due item
Banking; General banking
Any note or other time instrument of indebtedness that has not been paid on the due date.
payday loans
Banking; General banking
A small-dollar, short-term loan that a borrower promises to repay out of their next paycheck or deposit of funds.
payee
Banking; General banking
The person or organization to whom a check, draft, or note is made payable.
paying bank
Banking; General banking
A bank upon which a check is drawn and that pays a check or other draft.
payor bank
Banking; General banking
A bank upon which a check is drawn and that pays a check or other draft.
payment due date
Banking; General banking
The date on which a loan or installment payment is due. It is set by a financial institution. Any payment received after this date is considered late; fees and penalties can be assessed.
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