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A suspense account is an account in the general ledger in which amounts are temporarily recorded. A suspense account is used when the proper account cannot be determined at the time the transaction is recorded. When the proper account is determined, the amount will be moved from the suspense account to the proper account.
S. Safe deposit box; Segregated account; Seller's points; Serviceability (banking) Shaba Number; Sharia and securities trading; Shell bank; Single-tier banking system
Cheque clearing (or check clearing in American English) or bank clearance is the process of moving cash (or its equivalent) from the bank on which a cheque is drawn to the bank in which it was deposited, usually accompanied by the movement of the cheque to the paying bank, either in the traditional physical paper form or digitally under a cheque truncation system.
Dig deeper: High-yield accounts vs. traditional savings account: Why it’s worth the switch. ... If you’re used to clearing up issues by walking into your local bank branch, lack of a personal ...
Your account has insufficient funds to cover transactions if the balance falls below zero. The bank may deny charges and return checks with a note that your account doesn't have enough money to ...
To maintain liquidity while earning a competitive interest rate, you can transfer your CD funds into a high-yield savings account, money market account or other savings account. When it might make ...
In trading, clearing is necessary because the speed of trades is much faster than the cycle time for completing the underlying transaction. It involves the management of post-trading, pre-settlement credit exposures to ensure that trades are settled in accordance with market rules, even if a buyer or seller should become insolvent prior to settlement.
A money market account is a type of interest-bearing account that combines the strong rates of a high-yield savings account with the features of a checking account. MMAs offer rates of 4.5% APY or ...