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It is common for a person seeking the services of a lawyer (attorney) to pay a retainer ("retainer fee") to the lawyer, to see a case through to its conclusion. [2] A retainer can be a single advance payment or a recurring (e.g. monthly) payment. Absent an agreement to the contrary, a retainer fee is refundable if the work is not performed. [3]
Retainage is a portion of the agreed upon contract price deliberately withheld until the work is complete to assure that contractor or subcontractor will satisfy its obligations and complete a construction project. [1]
The overdraft fee was also designed as a penalty for unauthorised lending from the bank, but regulators and governments have pushed back against fees that are designed as penalties. Consumer laws in a number of countries have forced banks to not charge fees beyond what is reasonably necessary to recover their costs. [5]
2. Overdraft fees. 💵 Typical cost: $26 to $35 per occurrence Overdraft fees happen when you spend more money than you have in your checking account, and the bank covers the difference ...
A mortgage statement is a document containing the latest details about your loan, including your monthly payment. The law requires your mortgage lender or servicer to send you statements for each ...
Bank statement loan vs. traditional mortgage Traditional mortgages, such as a 30-year fixed-rate conventional loan or FHA loan, are more common than bank statement loans.
Transactions on deposit accounts are recorded in a bank's books, and the resulting balance is recorded as a liability of the bank and represents an amount owed by the bank to the customer. In other words, the banker-customer (depositor) relationship is one of debtor-creditor. Some banks charge fees for transactions on a customer's account.
Meanwhile, most U.S. banks are also paying regulator Federal Deposit Insurance Corporation (FDIC) a fee to refill its insurance fund, used to safeguard customer deposits in case of bank failures ...