Terms with Tag Banking
- Chattel — Definition,
- Personal property that can be moved.
- Chattel Mortgage — Definition, Important,
- A loan backed by movable personal property. Generally mobile or trailer homes.
- Cheque (CK) — Acronym,
- A written order for payment of a certain amount of money.
➥ Bank account transaction code. - Cheque Book — Definition,
- A book with blank cheques. The cheques may be personalized or non-personalized.
- Cheque Clearing — Definition,
- 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 — Definition,
- 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 Posted by Branch (CB) — Acronym, ➥ Bank account transaction code.
- Cheque Register — Definition,
- A book or log where you can record the details of every transaction made in your chequing account.
- Cheque Returned NSF (NS) — Acronym, ➥ Bank account transaction code.
- Cheques Returned with Statement — Definition,
- Cheques that are cancelled are returned to the account holder in a monthly statement.
- Chequing Account — Definition,
- A bank account that allows quick access to the money in the account.
- Chinook Credit Union — Company, Alberta, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Churchbridge Savings & Credit Union — Company, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- CIBC [Canadian Imperial Bank of Commerce] Global Asset Management, Inc. (CGAM) — Company, Toronto, Ontario, Canada,
- Citibank Credit Card Issuance Trust (CCCIT) — Acronym,
- City Plus Credit Union (CPCU) — Company Est. 2005, Calgary, Alberta, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- City Savings & Credit Union — Company, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Claim — Definition,
- A creditor's assertion of a right to payment from a debtor or the debtor's property.
- Classic Card — Definition,
- Brand name for the standard card issued by VISA.
- Classified Property Tax — Definition,
- A local government's levy on real estate that varies depending on the use of the property. Usually, commercial property is taxed more heavily than residential property where a classified property tax exists.
- Clearing & Settlement Mechanism (CSM) — Acronym,
- Clearing and Settlement (C&S) — Acronym,
- The process whereby banks collect or pay out for items drawn on or paid into accounts in their institution. This process enables banks to accept each other's cheques and bank drafts for deposit. The Canadian Payments Association operates Canada's clearing system.
- Client Account Agreement (CAA) — Acronym, ➥ Terms set out by banks when opening a savings or securities / investment account.
- Client-based Banking Software — Definition,
- Customers use money management software and their own computers to access the bank using a modem and a phone line.
- Close International Private Banking (CIPB) — Acronym,
- Closed-account Fee — Definition,
- A fee charged for shutting down an account. Sometimes charged if the account is closed before a certain time period has passed.
- Closed-end Lease — Definition,
- The most common type of car lease. The lessee may return the car at the end of the lease term, pay any end-of-lease costs, such as the disposition fee, and the lease agreement is over. In a closed-end lease, the lender assumes the risk of predicting the value of the vehicle (its residual value) at the end of the lease's term. Closed-end lease payments are somewhat higher than open-end lease payments.
- Closely Held — Definition,
- Schedule II banks may be closely held, i.e., one party (owner) may hold more than 10% of the outstanding shares. Schedule I banks are prohibited from this type of ownership.
- Closing Costs — Definition,
- The miscellaneous expenses involved in closing a real estate transaction that are over and above the purchase price. Some of the closing costs include title insurance, appraisal fee.
- Cloud on Title — Definition,
- A claim on title to property that could impair the ability to transfer ownership.
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