Parking

Definition

  • A term that refers to depositing, or "parking" cash in a high-yield money market account until you need to move it to a chequing account to pay bills.

Synonyms
cash, saving, invest

Acronyms
prk

Related Terms and Acronyms

  • Bill Presentment Definition,
    • An online system that allows customers to receive and view the bill on a computer, and then pay the bill electronically. Users can pay their bills immediately and the money is transferred from the account.
  • Current Yield Definition,
    • The annual increase in the value of an investment, usually expressed as a percentage.
  • Escrow Account (EA) Acronym,
    • An account in which money for property taxes and insurance is held until paid; money is added to the account every time a mortgage payment is made.
  • Interest (int, IN) Acronym & Abbreviation,
    • Money paid for the use of borrowed funds, usually expressed as an annual percentage.
    Bank account transaction code.
  • Investment Definition,
    • Something you put your money into in order to make money.
  • Liquid Assets Definition,
    • Cash and other property that can be converted quickly and easily into cash.
  • Money Market Account (MMA) Acronym,
    • A bank account that restricts the type and number of withdrawals. The account also earns interest similar to money market funds.
  • Money Market Fund (MMF) Acronym, Important,
    • Mutual funds that invest in short-term debts or securities.
  • Money Market Mutual Fund (MMMF) Acronym,
    • A mutual fund that invests in short-term debt instruments such as Treasury bills, commercial paper, and large CDs. Also referred to as money market fund (MMF).
  • Mutual Fund Definition,
    • A type of investment scheme that pools funds from multiple backers and invests them in securities such as stock or bonds.
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