Terms with Tag Bank Account

  • Automatic Payment Bank,
    • An arrangement that authorizes periodic withdrawals to be made from a chequing or savings account to pay bills, usually regular monthly payments such as for rent or mortgages.
  • Cheque Book Bank,
    • A book with blank cheques. The cheques may be personalized or non-personalized.
  • Cheque Clearing Bank,
    • When you write a cheque to a person or a company, the cheque is typically cashed when deposited into a bank account. Your chequing account is then debited for the amount of the cheque and the cheque is said to have "cleared."
  • Cheque Hold Bank,
    • The length of time that a financial institution can legally hold a cheque before crediting a customer's account balance and allowing the customer to use the funds.
  • Cheque Register Bank,
    • A book or log where you can record the details of every transaction made in your chequing account.
  • Cheques Returned with Statement Bank,
    • Cheques that are cancelled are returned to the account holder in a monthly statement.
  • Chequing Account Bank,
    • A bank account that allows quick access to the money in the account.
  • General Account (GA) Bank, Very Important,
    • Investments and assets that an insurer uses for paying benefits and claims.
  • High Interest Money Market Account (HIMMA)Bank,
    • High Yield Money Market Account (HYMMA)Bank,
      • Insured Money Market Account (IMMA)Bank,
        • Joint Account (J/A) Bank, Important,
          • A bank account owned by two or more persons who share equally in the rights and liabilities of the account.
        • Money Market Account (MMA) Bank,
          • A bank account that restricts the type and number of withdrawals. The account also earns interest similar to money market funds.
        • Super Yield Money Market Account (SYMMA)Bank,
          • Tiered Money Market Account (TMMA)Bank,
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