Savings

Savings

Referring to the process of saving and accumulating money by economy and laying it away for later use, usually over a long period of time.

Industry: Banking

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Savings

loro account

Banking; Savings

An account serviced by a bank on behalf of an account owner bank.

dormant account

Banking; Savings

In general, a low-balance savings account which has shown no activity (deposits and/or withdrawals) over a long period, other than posting of the interest and/or service charges. Statute of ...

Compounding

Banking; Savings

Earning interest on an asset, and reinvesting those savings for greater returns in the future.

Siliconaire

Banking; Savings

An owner of a dot.com company who became suddenly rich following the company's IPO.

teller

Banking; Personal banking

Person working at a window in a bank who receives deposits, hands out cash and performs other duties.

Many companies will match employee contributions to a 401(k) savings plan, either dollar-for-dollar or a certain percentage. Many companies will match up to 3 percent, with some going as high as a 6 ...

automatic enrollment

Banking; Savings

An automatic enrollment system allows an employee to automatically enrolled in a 401(k) plan by the employe. How contributions are invested is decided by the plan design.