Search results
Results from the WOW.Com Content Network
The capital account essentially is the left-hand side of a country's balance sheet, because it measures all of the physical and financial assets the country owns. Capital accounts are an important part of national accounting, which is a method of calculating the economic activity of a country or region. The goal of the capital account and the ...
An account balance can also be the amount owed to a creditor. For example, if John Doe gets a new credit card, buys patio furniture for $1,000, and charges his $150 dinner out, his account balance on his credit card is $1,150 (and he has only $75 in his bank account, so he might have a big problem). An account balance is a statement of how much ...
A sweep account is a bank or brokerage account that automatically transfers amounts above a certain threshold into a higher interest-earning investment option. These transfers are made at the close of each business day. In a brokerage account, unassigned funds from dividends, mutual fund distributions, or deposits can be swept into a higher ...
The CIT Bank Savings Connect account currently pays 0.50% APY, but to earn that rate you’ll need to maintain a linked Qualifying eChecking account, which requires a qualifying deposit of $200 or more. Otherwise, you’ll earn the base rate of 0.42% APY. CIT Bank's savings account requires a minimum initial deposit of $100, but it has no fees.
In the business world, buying things on account is the same as creating accounts payable. For example, let's assume that Company XYZ orders $1 million in widget parts from its supplier. Company XYZ pays the supplier $100,000 and puts the other $900,000 on account. This basically means it will pay the rest later -- let's say in 60 days.
A negotiable order of withdrawal account (NOW) is an interest-earning bank account in which the account holder can write checks against the balance. Most mutual savings banks, commercial banks, savings and loan associations, and credit unions offer NOW accounts. Thus a NOW account, in simple terms, can be considered a checking account that pays ...
Why Does a Zero-Balance Account Matter? Zero balance accounts help companies maximize interest revenue, but they also lead to additional money transfers and more bookkeeping work. A zero-balance account, sometimes called a "ZBA," is a business-oriented bank account that usually has a balance of $0.
Also called tenancy by entirety, property owned jointly with the right of survivorship is wholly owned by all living owners. In other words, unlike joint tenants in common (JTIC), any given owner's ownership percentage does not posthumously become part his estate. Rather, the ownership portion is distributed among the surviving owners and does ...
If the savings account is offered through a Member-FDIC bank or NCUA-member credit union, the account is insured for up to $250,000 per account and per cosigner. For example, if you and your spouse are cosigners on a high yield savings account and the bank is in financial trouble, up to $500,000 ($250,000 x 2 cosigners) of your money in the ...
A passbook savings account is the classic name for a traditional savings account. Though it may seem quaint now, tellers record the deposits, withdrawals, and interest earned for account holders in a small physical booklet called a passbook. Today, apps and digital banking have made passbook accounts largely obsolete.