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Nostro Account vs. Vostro Account: What’s the Difference?

Nostro Account vs. Vostro Account “Nostro” and “Vostro” are terms used to describe a bank account that one bank has …

Banking

Investment Banks vs. Merchant Banks: What’s the Difference?

Investment Banks vs. Merchant Banks: An Overview There are two different types of financial institutions known investment banks and merchant …

Banking

Tier 1 Capital

What Is Tier 1 Capital? Tier 1 capital refers to the core capital that a bank uses to fund its …

Banking

How Overdraft Provides Protection

What Is an Overdraft? An overdraft happens when you don’t have enough money to cover a transaction, but the bank …

Banking

Understanding Money Orders

What Is a Money Order? A money order is a certificate, usually issued by a government or banking institution, that …

Banking

What Is Disbursement

What Is Disbursement? Paying out money is called disbursement. This term can describe injecting money into a business’ operating budget, …

Banking

Credit Union Definition

What Is a Credit Union? Ranging in size from small, volunteer-only operations to large entities with thousands of participants spanning …

Banking

How Depositories Work

What Is a Depository? A depository is a facility where something is deposited for storage or protection. It can also …

Banking

Deposit Definition

What Is a Demand Deposit?   A DDA account is a bank account that allows the account holder to withdraw …

Banking

Understanding Commercial Banking

What Is a Commercial Bank? Most people do their banking at a commercial bank, a financial institution that accepts deposits, …

Banking

Bank Run

What Is a Bank Run? A bank run happens when a lot of people who have money deposited in a …

Banking

Are Prepaid Cards Right for You?

What Is a Prepaid Card?   Prepaid cards work like debit cards or store-valued cards, where you can load them …

Banking

APR vs. APY: What’s the Difference?

The terms APR and APY are often confused because they calculate interest for investment and credit products. They significantly affect …

Banking

What Is an External Transfer?

An external transfer is an electronic transfer of money from one financial institution to another. This can be done between …

Banking

ACH Transfers vs. Wire Transfers: What’s the Difference?

ACH Transfers vs. Wire Transfers: An Overview As electronic payments become increasingly popular, people find them more convenient, easy, and …

Banking

What Is Postal Banking?

Postal banking is a system where your local post office offers essential financial services similar to a commercial bank. This …

Banking

What Is a Banking Desert?

What Is a Banking Desert? There are 1,214 banking deserts in the U.S., most of which are located in sparsely …

Banking

How to Choose a Bank

Deciding which financial institution to entrust your money to is one of the most important choices. The level of service, …

Banking

Checking vs. Savings Accounts

Approximately 5.4% of American households are unbanked, meaning nobody in those families has a bank account. Approximately 7.1 million households …

Banking

Banking 101

You may never have thought about why it makes sense to have a bank account, whether you’re just opening your …

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