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Banking
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 …
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 …
Tier 1 Capital
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 …
Understanding Money Orders
What Is a Money Order? A money order is a certificate, usually issued by a government or banking institution, that …
What Is Disbursement
What Is Disbursement? Paying out money is called disbursement. This term can describe injecting money into a business’ operating budget, …
Credit Union Definition
What Is a Credit Union? Ranging in size from small, volunteer-only operations to large entities with thousands of participants spanning …
How Depositories Work
What Is a Depository? A depository is a facility where something is deposited for storage or protection. It can also …
Deposit Definition
What Is a Demand Deposit? A DDA account is a bank account that allows the account holder to withdraw …
Understanding Commercial Banking
What Is a Commercial Bank? Most people do their banking at a commercial bank, a financial institution that accepts deposits, …
Bank Run
What Is a Bank Run? A bank run happens when a lot of people who have money deposited in a …
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 …
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 …
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 …
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 …
What Is Postal Banking?
Postal banking is a system where your local post office offers essential financial services similar to a commercial bank. This …
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 …
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, …
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 101
You may never have thought about why it makes sense to have a bank account, whether you’re just opening your …
