Overdraft – instant extension of credit from a lending institution, a person can be said “overdrawn” when an individual withdraws from a bank account exceeding to the amount of his or her savings account.
For example when a person have a savings account into a certain bank amounting to P5,000.00 and he or she withdrawn P6,000.00 [...]
From the category archives:
Glossary
Online Banking – basically a banking transaction performed via internet. Online Banking is also known as Internet Banking, it allows an individual or customer to conduct banking transactions via internet.
Online banking solutions offers lots of features that help an individual do it’s banking transaction without hassle on falling in lines or whatsoever.
Locally, online banking [...]
Office of the Comptroller of the Currency – is federal agency of the United States of America it was established under national currency act of 1863.
Its priority function is to regulate, supervise and charter all national banks and federal branches and agencies of foreign banks in the United States.
Its headquarters is located in Washington D.C [...]
Office of Thrift supervision – In United of States of America treasury department usually responsible for issuing and enforcing regulations governing the banking and lending industry.
This bureau is responsible for ensuring the safety and soundness of deposits in thrift banks. It does this by auditing and inspecting the banks to see if government regulations and [...]
Offline Debit Card – usually a plastic card given by a bank to a depositor or customer which provides an alternative way of payment to cash when making a purchase. It can be called electronic checks.
Transactions conducted with offline debit cards require 2–3 days to be reflected on users’ account balances.
Some of offline debit card [...]
Niche banks – A bank that caters and serve specific needs of its customer based on their demographic segment of population. Basically a niche bank typically target specific market or a customer.
In the Philippines for example, Rural Bank of Pangasinan usually offers services and loans to some of our farmer and fishermen it is because [...]
Net Income – primarily it is the income of an employee or a businessman subtracted its all cost and expenses made. It is an accounting term its usual term is profit. The term income is substituted with net income.
Net income is also called as “bottom-line” for it is commonly found on the last line [...]
Negotiable order of withdrawal account – An interest-earning bank account with which the customer is permitted to write drafts against money held on deposit. It is also known as a “NOW account”.
Structured to comply with regulations, which prohibits interest on checking accounts; NOW accounts are interest bearing and checks maybe written on them.
Typically commercial [...]
National Do Not Call Registry – This is designed to provide U.S. consumers a chance to limit the telemarketing calls they receive. In order for the American people to register by telephone, they may call 1-888-382-1222. The registry was scheduled to start in 2003, but the implementation was delayed due to a court challenge until [...]
National Credit Union Association – Another federal agency of the United States. This union was created to monitor all credit union across the country.
Its priority responsibility is to run the National Credit Union Insurance Fund which uses tax dollars to insure the deposits at all federal credit unions.
The NCUA officially became a federal agency in [...]