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Canadian Financial, Real Estate and Mortgage Glossary

Banking Terms

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amount financedDefinition (Mortgages, Financial-banking)
The principal that is financed. It could include the cost of the purchase and other items rolled into the payments.
angel investorsDefinition (Investments, Financial-banking)
Private individuals with capital to invest in business enterprises.
Anishinabek Nation Credit Union (ANCU)Bank, Ontario, Canada
  ➥  Provincial regulators required that the credit union close in 2011.
annexDefinition (Real-estate, Financial-banking, Legal-contracts)
To add one thing onto another.
annual administrative feeDefinition (Mortgages, Insurance, Financial-banking, Legal-contracts)
An annual (yearly) fee charged for the administration of a service.
annual crediting capDefinition (Investments, Financial-banking)
The highest rate that can be credited to an equity-indexed annuity in a year.
annual feeDefinition (Financial-banking)
A bank charge for use of a credit card levied each year, which can range from $15 to $300, billed directly to the customer's monthly statement. Many credit cards come without an annual fee.
annual percentage yield (APY)Definition (Investments, Financial-banking)
The percentage, required by Truth in Savings regulations, to be disclosed on interest-bearing deposit accounts that reflects the total interest to be earned based on an institution's compounding method, assuming funds remain in the account for a 365-day year.
annual percentage yield earned (APYE)Acronym
annuitantDefinition (Investments, Annuities, Financial-banking)
An individual who owns or is the recipient of an annuity.
annuitizationDefinition (Investments, Estate-management, Annuities, Financial-banking)
The process of turning a retirement plan or annuity into income in the form of periodic payments or a single lump sum.
annuitization optionsDefinition (Investments, Estate-management, Annuities, Financial-banking)
The different income dispersal options available when annuitizing a retirement plan or annuity, such as the timeframe and list of beneficiaries.
annuityDefinition (Investments, Estate-management, Annuities, Financial-banking)
A financial instrument that disperses a number of payments over a set period of time.
annuity certainDefinition (Investments, Estate-management, Annuities)
A type of annuity that makes payments to the annuitant for a set term; payments stop when the agreed upon term ends, even if the annuitant is still alive after the term ends.
annuity contractDefinition (Investments, Estate-management, Annuities)
A contract that outlines each party's responsibilities as they relate to an annuity.
annuity factor methodDefinition (Investments, Estate-management, Annuities)
A way of determining the maximum amount an annuitant can withdraw from an annuity before penalties are applied.
annuity in advanceDefinition (Investments, Annuities, Financial-banking)
When payments are made at the start of a period as opposed to the end.
annuity in arrearsDefinition (Investments, Annuities, Financial-banking)
When payments are made at the end of a period as opposed to the start.
annuity ladderDefinition (Investments, Annuities, Financial-banking)
A financial plan to purchase multiple annuities from different companies over a number of years in order to minimize interest rate risk and the risk of a total loss.
annuity tableDefinition (Investments, Estate-management, Annuities)
A table that can be used to find the future value of an annuity.
anti-money laundering (AML)Acronym
Apple Community Credit UnionBank, Ontario, Canada
  ➥  A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
application feeDefinition (Mortgages, Financial-banking)
What the lender charges to process the document in which a prospective borrower details his or her financial situation to qualify for a loan.
appreciationDefinition (Investments, Real-estate, Financial-banking)
An increase in the value of a property or item.
approvalDefinition (Mortgages, Real-estate, Financial-banking)
An assessment made by a lender of a borrower's ability to pay for a home and a confirmation of the amount the borrower may obtain.
arbitrationDefinition (Financial-banking, Legal-contracts)
A dispute-resolution method in which an impartial third party, agreed upon by all sides beforehand, makes a decision.
assetDefinition (Mortgages, Insurance, Financial-banking, Legal-contracts)
Anything of monetary value that is owned by a person. Assets include real property, personal property, and enforceable claims against others including bank accounts, stocks, mutual funds, and so on.
asset caseDefinition (Financial-banking, Legal-contracts)
A bankruptcy proceeding where there are non-exempt assets that might be accessible to pay creditor's claims.
Assiniboine Credit Union (ACU)Bank, Manitoba, Canada
Association of Public Treasurers of the United States and Canada (APTUSC)Company Est.1965
Represents public treasury and finance officials in local and provincial/state governments throughout North America.
atm access feeDefinition (Financial-banking)
Fee charged in addition to the individual account fees for an account holder to gain access to the ATM system. Can be monthly, weekly, or annual fee. See also "Automated Teller Machine."
atm allianceDefinition (Financial-banking)
An alliance between banks and/or credit unions that is designed to avoid or minimize surcharges for non-bank customers at ATM machines. Customers from one bank that belongs to the alliance can use surcharge-free ATMs at all alliance banks.
atm card feeDefinition (Financial-banking)
This is not a debit card fee. It can be an annual or monthly fee charged on top of individual account fees to obtain an ATM card. The fee may also be charged per card or per account. For example, if an account is held jointly, the bank may charge for the second person to hold a card or it may charge one fee for all the cards on an account.
atm surchargeDefinition (Financial-banking)
A fee charged to someone using a bank-owned ATM because he or she does not hold an account with that bank. It is a good idea to review what your bank charges you to use another bank's ATM system to avoid paying additional surcharges to your bank.
auditDefinition (Taxation, Financial-banking, Legal-contracts)
An examination of a taxpayer's income tax return or other transactions bearing tax consequences. Audits range from a simple letter from the agency to a detailed review of individual or business tax filings and records.
Austin Credit UnionBank, Manitoba, Canada
authorized foreign bank (AFB)Canada
authorized foreign exchange bank (AFEB)Acronym
authorized userDefinition (Financial-banking, Legal-contracts)
Any person to whom you give permission to use a credit card account.
Auto Workers Community Credit Union (AWCCU)Bank Est.1938, Ontario, Canada
automated banking machine (ABM)Acronym
  ➥  Sometimes incorrectly referred to as an Automatic Bank Machine.
automated clearing house (ACH)Acronym
Secure electronic funds transfer (EFT) system that connects all US financial institutions.
automated clearing settlement system (ACSS)Acronym
automated direct debit amendment and cancellation service (ADDACS)Acronym
automated return of unpaid direct debits (ARUDD)Acronym
automated teller machine (ATM)Canada
A terminal activated by a magnetically encoded card that allows customers of a bank or other financial institution to conduct everyday banking tasks such as deposits, withdrawals and transfers between accounts. An interconnection of these terminals allows customers to conduct certain transactions around the nation and the world; usually subject to a surcharge fee.
  ➥  See also Automated Banking Machine (ABM).
automatic electronic funds transfer (AEFT)Acronym
automatic paymentDefinition (Mortgages, Financial-banking)
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.
automatic revolving letter of credit (ARLC)Acronym
automatic transfer of loan payments (ATLP)Acronym
Previous Page
1st Choice Savings and...Amortized Loan
Currently Displayed — Page 2
Amount Financed — Automatic Transfer of Loan...
  Next Page
Automatic Transfer...Before-tax Income

Search the Glossary

Index of Banking Terms

Page 1: 1st Choice Savings and...
Amortized Loan
Page 2: Amount Financed
Automatic Transfer of Loan...
Page 3: Automatic Transfer Service
Before-tax Income
Page 4: Belgian-Alliance Credit...
Caisse d'économie Desjardins...
Page 5: Caisse d'économie Desjardins...
Caisse Desjardins de Hull
Page 6: Caisse Desjardins de...
Caisse Desjardins de Saint...
Page 7: Caisse Desjardins de Saint...
Caisse Desjardins du Haut...
Page 8: Caisse Desjardins du Lac des...
Caisse populaire de Field
Page 9: Caisse populaire de...
Caisse populaire Desjardins...
Page 10: Caisse populaire Desjardins...
Caisse populaire Desjardins...
Page 11: Caisse populaire Desjardins...
Caisse populaire Desjardins...
Page 12: Caisse populaire Desjardins...
Caisse populaire Madawaska
Page 13: Caisse populaire Mer et...
Canadian Payments...
Page 14: Canadian Western Bank
Cheques Returned with...
Page 15: Chequing Account
Commercial Real Estate...
Page 16: Commingling
Page 17: Credit Card
Page 18: Declining Life Insurance
Page 19: Earl Grey Credit Union
Etobicoke Aluminum Employees...
Page 20: Etobicoke Teachers Credit...
Page 21: Foam Lake Savings & Credit...
Gross International Reserves
Page 22: Gross Overtime
Page 23: Instant Teller
International Investment...
Page 24: International Journal of...
Ladysmith & District Credit...
Page 25: Lafleche Credit Union
Local Taxes
Page 26: Lock-in
Monetary Policy Committee
Page 27: Monetary Policy Report...
Non-owner Occupant
Page 28: Non-Performing Loan
Ordinary Dividends
Page 29: Ordinary Income
Personal Property Taxes
Page 30: Personal Savings
Private Lender
Page 31: Privately Held Company
Remaining Balance
Page 32: Remaining Term
Same Day Funds Settlement
Page 33: Sandhills Credit Union
Split-Funded Annuity
Page 34: Spread
Tax Liability
Page 35: Tax Lien
Underwriting Expenses
Page 36: Underwriting Guide
Weyburn Credit Union
Page 37: Williams Lake and District...
Zero Balance

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