Personal banking

Personal banking

Referring to the business when banks carry out transactions with customers directly, rather than with other banking institutions or with large corporations.

Industry: Banking

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Personal banking

depreciation

Banking; Personal banking

The amount by which a fixed asset's accounting or book value is periodically reduced to reflect the fact that the economic value of the asset is steadily reduced by a combination of wear and tear ...

A system wherein amounts are transferred from a payor’s checking account to the accounts of payees no matter where they bank. The transfers are made electronically and do not require a paper check or ...

direct hedges

Banking; Personal banking

A form of capital markets or derivatives hedge in which the cash market instrument being hedged is hedged by an options or futures contract on the same underlying instrument. For example, a 91-day ...

direct lease

Banking; Personal banking

A form of lease financing in which the bank acquires property from a supplier and then leases that property directly to an end user. The bank is the owner and the lessor and the end user is the ...

direct verification

Banking; Personal banking

The audit procedure of mailing the account debtor a note requesting the account debtor to confirm the balance owed.

directionally correct

Banking; Personal banking

An expression used to indicate that a measurement is accurate to the extent that it shows the quantity to be measured to be positive or negative even though the degree to which the quantity is ...

disbursement float

Banking; Personal banking

The total time period between when a check is prepared by the remitter and when the check is presented for payment. This float also includes the delivery float, processing float, and transit float. ...