The 3-6-3 rule is a slang term that refers to an unofficial practice in the banking industry in the 1950s, 1960s, and 1970s that was the result of non-competitive and simplistic conditions in the industry.

The 3-6-3 rule is a slang term that refers to an unofficial practice in the banking industry in the 1950s, 1960s, and 1970s that was the result of non-competitive and simplistic conditions in the industry. The 3-6-3 rule describes how bankers would supposedly give 3% interest on their depositors' accounts, lend the depositors money at 6% interest, and then be playing golf by 3 p.m.
After the Great Depression, the government implemented tighter banking regulations, which made it more difficult for banks to compete with each other and limited the scope of the services they could provide clients; as a whole, the banking industry became stagnant.
After the Great Depression, the government implemented tighter banking regulations. For example, banks may now provide a greater range of services, including retail and commercial banking services, investment management, and wealth management. The 3-6-3 rule is a slang term that refers to an unofficial practice in the banking industry in the 1950s, 1960s, and 1970s that was the result of non-competitive and simplistic conditions in the industry. The 3-6-3 rule is a slang term that refers to an unofficial practice in the banking industry, specifically in the 1950s, 1960s, and 1970s, which was the result of non-competitive and simplistic conditions in the industry.

3-6-3 Rule

The American Bankers Association (ABA) is the largest banking trade association in the United States, and it represents banks of all sizes.

ABA Statement on Bank On Account Milestone

Regulators update Volcker, swaps and rate-cap rules

Dodd-Frank Wall Street Reform and Consumer Protection Act

1975-1999: A History of America's Banks and The ABA

Table of Contents
What Is the ABA?
Understanding the ABA
Outreach and Education
ABA FAQs The ABA has a strong position within the industry, fathering initiatives such as the nine-digit routing number and the ABA Banking Indexes.
One of the ABA’s prominent research publications is the Consumer Credit Delinquency Bulletin (CCDB).
The principal activities of the American Bankers Association (ABA) include The ABA’s three banking indexes include:
ABA NASDAQ Community Bank Index (ABAQ)
NASDAQ OMX ABA Community Bank Index (ABQI)
ABA NASDAQ Community Bank Total Return Index (XABQ) The ABA is one of the United States’ largest financial trade groups, and it is primarily a trade organization, which means it does not provide actual banking services or work within the banking system. Table of Contents
What Is the ABA?
Understanding the ABA
Outreach and Education

American Bankers Association (ABA)

An acceptor is the third party that accepts responsibility for payment in a bill of exchange.

An acceptor is the person (or bank) who is expected to pay a check or draft when it is presented for payment. Depository institutions have capital requirements that regulatory agencies have set in place to ensure that banks have enough capital to honor withdrawals if they sustain operating losses. When Electric Company ABC presents the check for payment, and the bank agrees to pay the check, it becomes the acceptor. An acceptor is the person (or bank) who is expected to pay a check or draft when it is presented for payment. An acceptor is the person (or bank) who is expected to pay a check or draft when it is presented for payment.

Acceptor

Account activity refers to the transactions made within a particular account. These include cash withdrawals, bill payments, and wire transfers. 

Table of Contents
What Is Account Activity?
Understanding Account Activity Common activity charges can be applied to withdrawing money from an ATM (other than the institution's own), not meeting minimum account requirements, overdrawing an account, transferring funds between accounts, or—especially in the case of savings accounts—exceeding the allowed number of transactions. In finance and investments, account activity refers to the transactions made by a client in a particular brokerage or bank account. In finance and investments, account activity refers to the transactions made in a particular brokerage or bank account. In order to attract and retain new customers, XYZ is offering a promotion whereby clients can enjoy lower fees if they maintain account activity of at least 10 transactions per month.

Account Activity

Account aggregation is a process in which data from many, or all, of an individual's or household’s financial accounts are collected in one place.

Account aggregation is a process in which data from many—or all—of an individual's or household’s financial accounts are collected in one place. In addition to aggregating data from savings, checking, brokerage, and other financial accounts, some aggregation services and software—particularly those used by professional financial advisers on behalf of their clients—aggregate additional net-worth data, such as recent home-value estimates. For example, account aggregation platforms or services may include credit card accounts that are issued by the institution where the aggregated accounts are held, or outside accounts that the account holder has authorized to be included. Account aggregation, sometimes called financial data aggregation, lists all or most of the account holder's financial information in one place. Account aggregation can be a useful financial management and planning tool, providing streamlined account access for account holders.

Account Aggregation

An account freeze includes actions taken by a bank, brokerage or government to prevent transactions in an account.

An account freeze is an action taken by a bank or brokerage that prevents some transactions from occurring in the account. Mobile and on-demand banking services are increasingly popular with customers interested in self-service and enhanced cyber security features.
An account freeze more commonly may be known as “freezing an account,” as one might say in general conversation. A government or regulatory authority may freeze an account because of suspicious activity, suspected criminal activity, civil actions or liens filed against the account. An account freeze is an action taken by a bank or brokerage that prevents some transactions from occurring in the account. Furthermore, a bank or brokerage account may be frozen when the account holder dies.

What Is an Account Freeze?

Account hold is a restriction on the account owner's ability to access funds in the account due to various reasons.

An account hold is a restriction on an account owner's ability to access funds in the account due to various reasons. Similarly, when a customer pledges a bank account as collateral for a loan, either the loan must be paid off, or the bank account has to be removed as collateral before the customer can resume accessing funds in the account. An account hold is a restriction on an account owner's ability to access funds in the account due to various reasons. A deposit of a particularly large check, an out-of-state check, or a foreign check may cause an account to be placed on hold, though the hold would be limited to the check amount. An account hold involves limitations imposed by a bank or brokerage onto an account.

Account Hold

An account number is a unique string of numbers and, sometimes, letters or other characters that identifies the owner of the account.

An account number is a unique string of numbers and, sometimes, letters and other characters that identifies the owner of an account and grants access to it. The account number works together with the routing number to identify the right account holder at the right institution. In today's electronic age, the most important account number for many people is the checking account number. An account number is a unique string of numbers and, sometimes, letters and other characters that identifies the owner of an account and grants access to it. The number identifies the check as having been issued by a federal- or state-chartered bank that maintains an account with the Federal Reserve.

Account Number

Account reconcilement is the process of confirming that two separate records of transactions in an account are equal. 

Account reconcilement is the process of confirming that two separate records of transactions in an account are equal. However, thanks to the advent of online banking and the decline of paper checks, many individuals no longer perform account reconcilement for most of their financial accounts and depend on their banks to show the correct final balance in online banking portals. Prior to Sarbanes-Oxley, accounting standards did not account for the need to apply best practices to account reconcilement. Account reconcilement is the process of confirming that two separate records of transactions in an account are equal. Account reconcilement is the process of confirming that two separate records of transactions in an account are equal.

Account Reconcilement

An account statement is a periodic summary of account activity with a beginning date and an ending date.

An account statement is a periodic summary of account activity with a beginning date and an ending date. Anomalous items on an account statement may be a sign the account has been compromised, perhaps through a stolen credit or debit card or through identity thieves who gained access to account information. The most commonly known are checking account statements, usually provided monthly, and brokerage account statements, which are provided monthly or quarterly. Such statements typically list debits paid, incoming funds or credits received by the account holder, and fees associated with maintaining the account. Alerts and notices to the account holder may also appear on these statements, calling attention to matters with the account that need to be addressed, such unusual charges that should be reviewed and verified.

Account Statement  & Examples

An account is an arrangement by which an organization accepts a customer's financial assets and holds them on behalf of the customer.

The term account generally refers to a record-keeping or ledger activity. Types of accounts include savings accounts, which are designed to help customers accumulate liquid assets; checking accounts, which make it easier for customers to use liquid assets to pay debts and buy goods and services; and retirement accounts, which allow customers to earn higher interest rates on money saved and invest for old age. Countries, corporations, and other entities use financial accounts, current accounts, capital accounts, and others to measure and track payments, transfers, trade, and assets of all kinds, including liquid assets, trademarks, drilling rights, intellectual property, goods produced, and more. Today, people open transaction (checking), savings, and other bank accounts in order to more securely manage liquid assets, as assets held in accounts with a financial institution are less vulnerable to theft than cash and are insured by the Federal Deposit Insurance Corporation (FDIC) in the United States up to $250,000. Common credit accounts include revolving credit accounts, like credit cards and lines of credit, and installment loan accounts like car loans or mortgages.

Account

Activity charges are fees charged by banks in response to specific account activities, such as transferring or withdrawing funds.

Average Debit Card Interchange Fee by Payment Card Network

An activity charge is a fee charged by banks in response to specific account activities, such as transferring funds between accounts, withdrawing funds using an automated teller machine (ATM), or when a checking account does not meet its minimum deposit requirement. Aside from ATM-related activity charges, other examples include minimum balance charges, which are triggered when the balance of a given account falls below a predefined threshold; overdraft fees, which are incurred when account holders withdraw more funds than were held in their account; and account closure fees. Additional examples include fees charged for making debit card transactions from savings accounts, fees for requesting paper copies of bank statements, fees for bounced or returned checks, fees for replacement cards, fees for sending or receiving wire transfers, and fees for dealing in foreign currencies. An activity charge is a fee charged by banks in response to specific account activities, such as transferring funds between accounts, withdrawing funds using an automated teller machine (ATM), or when a checking account does not meet its minimum deposit requirement. Depending on the fee schedule in question, activity charges may be based on individual transactions, such as fund transfers or withdrawals, or they may be triggered by the account holder exceeding a predetermined number of monthly transactions.

Activity Charge

An advance dividend is a payment to the uninsured depositors of a bank that becomes insolvent, based on an estimate of the bank's remaining assets.

Depositor Liquidity and Loss-Sharing in Bank Failure Resolutions

An advance dividend is a payment to uninsured depositors in the event of a bank or thrift failure. The FDIC then pays out in full for insured deposits and pays an advance dividend on uninsured deposits based on the estimated value of the remaining assets. If the staff underestimates the value of these assets, then the FDIC can pay claimants a further dividend up to the par value of their uninsured deposits. An advance dividend may also refer to an interim dividend, issued to a corporation's shareholders in advance of their annual financial statements. When a financial institution fails, the Federal Deposit Insurance Corporation (FDIC) takes over and makes a conservative estimate of the value of the institution's assets.

Advance Dividend

An agent bank is a bank that performs services in some capacity on behalf of an entity.

An agent bank is a bank that performs services in some capacity on behalf of an entity. A foreign bank doing business in the U.S. on behalf of its parent bank may be known as a foreign agent bank. Partnership with a third-party agent bank is common for credit businesses who need a bank’s support in offering credit cards or loan programs. An agent bank can represent a group of banks, which is the case if it is the lead bank in a syndicated loan. An agent bank, also known as agency bank, can offer a wide variety of services for businesses looking to expand internationally.

Agent Bank

An agreement corporation is a type of bank that is permitted by a state to engage in international banking.

Permissible activities of Edge and agreement corporations in the United States

Edge Act and Agreement Corporations in International Banking and Finance

An agreement corporation is a type of bank that is permitted by a state to engage in international banking. To remedy this, Congress passed an amendment to the Federal Reserve Act in 1919 called the Edge Act, which said that the Fed could charter new banks for the purpose of international lending. This new law, known as the Edge Act, authorized the Federal Reserve to charter new banks expressly oriented toward international lending. The 1916 Agreement Corporation Act allowed banks to put 10% of their funds into state-chartered banks and corporations allowed to finance projects overseas. These new companies, known as Edge Act corporations (EACs), helped open the door for increased international involvement of American banks writ large.

Agreement Corporation

The American Institute of Banking was founded by the American Bankers Association to provide specialized education and training for the banking industry.

The American Institute of Banking was formerly an organization founded and overseen by the American Bankers Association (ABA). AIB trainings include the following:
Business Banking and Commercial Lending
Certificate in Business and Commercial Lending
Small Business Banker Certificate
Mortgage Lending
Residential Mortgage Lender Certificate
CEO and Bank Leadership
ABA-Wharton Emerging Leaders Certificates
Certificate in Bank Financial Management
Certificate in BSA and AML Compliance
Certificate in Deposit Compliance
Certificate in Fraud Prevention
Certificate in Lending Compliance
Retail Banking
Bank Solutions Provider Certificate
Bank Teller Certificate
Branch Manager Certificate
Certificate in Bank Financial Management
Certificate in General Banking Risk Management
AML and Fraud Professionals Certificates
Bank Risk Professionals Certificates
Foundational Certificate in Bank Marketing
Advanced Certificate in Bank Marketing (Bank Marketing School)
Wealth Management and Trust
Certificate in Trust: Foundational
Certificate in Trust: Intermediate
Certificate in Trust: Advanced
Health Savings Account (HSA) Expert Certificate ICB trainings are now a part of the ABA and include the following:
Certified Trust and Financial Advisor (CTFA)
Certified Regulatory Compliance Manager (CRCM)
Certified AML and Fraud Professional (CAFP)
Certified Corporate Trust Specialist (CCTS)
Certified Securities Operations Professional (CSOP)
Certified Financial Marketing Professional (CFMP)
Certified IRA Services Professional (CISP)
Certified Retirement Services Professional (CRSP) The ABA combined the efforts of the AIB and the ICB under its ABA brand umbrella, now offering AIB and ICB trainings autonomously under the ABA brand name.

American Institute of Banking (AIB)

An advanced internal rating-based (AIRB) is a method of managing a financial company's credit risk internally.

An advanced internal rating-based (AIRB) approach to credit risk measurement is a method that requests that all risk components be calculated internally within a financial institution. Financial institutions often work with both structural credit models and Jarrow-Turnbull ones, when determining the risk of default.
Advanced Internal Rating-Based systems also help banks determine loss given default (LGD) and exposure at default (EAD). In addition to the basic internal rating-based (IRB) approach estimations, the advanced approach assesses the risk of default using loss given default (LGD), exposure at default (EAD), and the probability of default (PD). An advanced internal rating-based (AIRB) approach to credit risk measurement is a method that requests that all risk components be calculated internally within a financial institution. Advanced internal rating-based (AIRB) can help an institution reduce its capital requirements and credit risk.

Advanced Internal Rating-Based (AIRB)

An allonge is a sheet of paper that is attached to a negotiable instrument, such as a bill of exchange, to provide space for additional endorsements.

An allonge is a sheet of paper that is attached to a negotiable instrument, such as a bill of exchange. They are commonly associated with negotiable instruments such as bills of exchange.
Today, allonges are relatively rare as contracts are increasingly drafted and amended electronically.
Allonges are commonly used on bills of exchange, which are a type of negotiable instrument in which one party agrees to pay a specified sum of money to another party, either immediately or on a future date. In practice, this means that the original endorsements applied to a bill of exchange may need to be updated several times in the event that the bill is transferred repeatedly. To facilitate this, bills of exchange will often come with an allonge attached to the bill, effectively acting as a placeholder for potential future amendments to the contract. In the context of bills of exchange, the person who guarantees the payment of the bill is known as a “given of an aval.”

Allonge

Alternative methods of payment are means of making a purchase other than through cash.

Alternative methods of payment are means of making a payment other than cash. Alternative methods of payment (AMOP) include payments made using a credit or debit card, loyalty program points, cryptocurrencies like bitcoin or virtual wallets like Google Pay or Apple Pay. Alternative methods of payment (AMOP) including credit cards, debit cards and loyalty points have increased rapidly in the past decades. Alternative methods of payment (AMOP) including credit cards, debit cards and loyalty points have increased rapidly in the past decades. For example, card companies charge a fee such as a percentage of the sale, each time a credit or debit card is used in a transaction.

Alternative Methods Of Payment (AMOP)

An annual clean-up is a banking practice requiring borrowers to pay off any renewable lines of credit and keep them at zero for 30 to 60 days.

An annual clean-up is a banking practice that requires a borrower to pay off all balances of any renewable lines of credit and keep them at zero for 30 to 60 days or even 90 consecutive days during a 12 month period. An annual clean-up is a banking practice that requires a borrower to pay off all balances of any renewable lines of credit and keep them at zero for 30 to 60 days or even 90 consecutive days during a 12 month period. An annual-clean up is a banking practice that requires a borrower to pay off all balances on any renewable lines of credit and keep them at zero for a specified period of time. Short-term loans, also known as lines of credit, are typically subject to an annual-clean up as opposed to long-term loans. There can be other stipulations during an annual clean-up period, such as not incurring overdrafts for 30 or 60 days for each year that the customer uses their revolving line of credit.

Annual Clean-Up

Annual Percentage Rate (APR) is the interest charged for borrowing that represents the actual yearly cost of the loan, expressed as a percentage. 

Part 1030—Truth in Savings (Regulation DD)

Table of Contents
Annual Percentage Rate (APR)
How APR Works To calculate the APY or effective annual interest rate (EAR)—the more typical term used for credit cards—add one (which represents the principal) and take that number to the power of the number of compounding periods in a year; subtract one from the result to get the percentage:
APY \= ( 1 \+ Periodic Rate ) n − 1 where: n \= Number of compounding periods per year \\begin{aligned} &\\text{APY} = (1 + \\text{Periodic Rate} ) ^ n - 1 \\\\ &\\textbf{where:} \\\\ &n = \\text{Number of compounding periods per year} \\\\ \\end{aligned} ​APY\=(1+Periodic Rate)n−1where:n\=Number of compounding periods per year​
In this case your APY or EAR would be 25.7%:
( ( 1 \+ . 0006273 ) 365 ) − 1 \= . 257 \\begin{aligned} &( ( 1 + .0006273 ) ^ {365} ) - 1 = .257 \\\\ \\end{aligned} ​((1+.0006273)365)−1\=.257​
If you only carry a balance on your credit card for one month’s period, you will be charged the equivalent yearly rate of 22.9%. The exact formula is as follows:
APR\=((Fees+InterestPrincipaln)×365)×100where:Interest\=Total interest paid over life of the loanPrincipal\=Loan amountn\=Number of days in loan term\\begin{aligned} &\\text{APR} = \\left ( \\left ( \\frac{ \\frac{ \\text{Fees} + \\text{Interest} }{ \\text {Principal} } }{ n } \\right ) \\times 365 \\right ) \\times 100 \\\\ &\\textbf{where:} \\\\ &\\text{Interest} = \\text{Total interest paid over life of the loan} \\\\ &\\text{Principal} = \\text{Loan amount} \\\\ &n = \\text{Number of days in loan term} \\\\ \\end{aligned}​APR\=((nPrincipalFees+Interest​​)×365)×100where:Interest\=Total interest paid over life of the loanPrincipal\=Loan amountn\=Number of days in loan term​ APR shouldn't be confused with APY (annual percentage yield), a calculation that takes the compounding of interest into account.
An annual percentage rate is expressed as an interest rate. Given that an APR and a different APY can be used to represent the same interest rate on a loan or financial product, lenders often emphasize the more flattering number, which is why the Truth in Savings Act of 1991 mandated that both APR and APY be disclosed in ads, contracts, and agreements.

Annual Percentage Rate (APR)

Arrears refers to either payments that are overdue or payments that are to be made at the end of a period.

Arrears is a financial and legal term that refers to the status of payments in relation to their due dates. If one or more payments have been missed where regular payments are contractually required, such as mortgage or rent payments and utility or telephone bills, the account is in arrears. For example, if your $500 loan payment is due on Jan. 15 and you miss the payment, you are in arrears for $500 as of the next business day. These payments are known as payment in arrears, occur at the end of the period, and are not classified as late. Because preferred shares have guaranteed dividends regardless of whether the company makes a profit or not, dividends are said to be in arrears if the company misses a cumulative dividend payment.

Arrears

An Article XII company is an investment company chartered under the New York State Banking Law to finance international banking transactions.

The French American Banking Corporation, a French bank in America

An Article XII company is an investment company chartered under the New York State Banking Law to finance international banking transactions. A handful of these companies are also owned by securities firms, serving as holding companies for banking subsidiaries located in the European Union (EU).
Today, several foreign banks, as well as a number of domestic finance companies, such as American Express Co. (AXP), Western Union Co. (WU), and General Electric Co. (GE), have Article XII status.
The first charter for an Article XII company was granted to Banque Nationale de Paris, France's largest bank, in 1919 in order to open the French-American Banking Corp. in New York. For many years, the policy of the New York State's Banking Department was to allow foreign banks to establish investment companies only if there were no other practical means of entering the New York market. Article XII companies are usually owned by foreign banks and typically engage in activities similar to internationally oriented commercial banks, such as lending to overseas borrowers, foreign exchange (Forex) trading, and the issuance of letters of credit. An Article XII company is an investment company chartered under the New York State Banking Law to finance international banking transactions.

Article XII Company

An Asset Liquidation Agreement (ALA) is a contract between banking regulators and a company managing the dissolution of a failed financial institution.

An asset liquidation agreement (ALA) is a contract between the Federal Deposit Insurance Corporation (FDIC) and a company that agrees to manage the sale of the assets of a failed financial institution. An asset liquidation agreement (ALA) is a contract between the Federal Deposit Insurance Corporation (FDIC) and a company that agrees to manage the sale of the assets of a failed financial institution. These contracts are also referred to as Partnership Dissolution Agreements,
An asset liquidation agreement (ALA) spells out the terms and obligations for third-party contractors who acquire the assets of a bank in liquidation. The terms of the ALA terms are defined by the FDIC, which seeks out banks willing to acquire the assets of failed banks to ensure a quick and orderly resolution. The FDIC wanted to resolve failed banks and financial institutions as quickly as possible in order to safeguard the interests of depositors, other financial institutions, and the overall economy.

Asset Liquidation Agreement (ALA)

An asset management and disposition agreement (AMDA) was a contract between the Federal Deposit Insurance Corp. and an independent contractor.

Managing the Crisis: The FDIC and RTC Experience, Volume 1: History

Managing the Crisis: The FDIC and RTC Experience, Volume I: History

An asset management and disposition agreement (AMDA) was a type of contract between the Federal Deposit Insurance Corp. (FDIC) and an independent contractor that oversaw and sold the assets of failed savings and loan (S&L) institutions during the S&L crisis of the 1980s and 1990s.
Asset management and disposition agreements (AMDAs) became necessary when the Federal Savings and Loan Insurance Corp. (FSLIC) took over numerous failed S&Ls (also called “thrifts”) during the crisis, acquiring billions of dollars’ worth of assets in the process. An asset management and disposition agreement (AMDA) was a type of contract between the Federal Deposit Insurance Corp. (FDIC) and an independent contractor that oversaw and sold the assets of failed savings and loan (S&L) institutions during the S&L crisis of the 1980s and 1990s.
Asset management and disposition agreements (AMDAs) became necessary when the Federal Savings and Loan Insurance Corp. (FSLIC) took over numerous failed S&Ls (also called “thrifts”) during the crisis, acquiring billions of dollars’ worth of assets in the process. Some of the other tools for managing and liquidating assets during the crisis included the Federal Asset Disposition Association, the FSLIC-owned and newly created S&L asset liquidation agreements (ALAs), which were used to dispose of pools of distressed assets worth at least $1 billion, and regional ALAs for smaller pools of less than $500 million. The savings and loan financial crisis was a result of the closure of 1,617 banks and 1,295 savings and loan institutions from 1980 to 1994 that resulted in a loss or assistance of $303 billion in bank assets and $621 billion savings and loan assets. An asset management and disposition agreement (AMDA) was a contract between the Federal Deposit Insurance Corp. and independent contractors hired to assist with the fallout of savings and loans (S&L) institutions during the S&L crisis of the 1980s and 1990s.

Asset Management and Disposition Agreement (AMDA)

An asset specialist is a professional who is responsible for the management and disposition of the assets of a financial institution.

JP Morgan Chase Acquires Banking Operations of Washington Mutual

An asset specialist is a professional who is responsible for the management and disposition of assets of a financial institution. As the financial crisis continued to unfold, asset specialists and asset managers were brought in to assist the government in the wake of over 25 banks being seized and shut down, including such major institutions as Washington Mutual. When a bank or other financial institution is placed into conservatorship, regulators appoint a managing agent who takes over the duties of the bank’s board of directors. When a bank or other financial institution is placed into conservatorship, regulators appoint a managing agent who takes over the duties of the bank’s board of directors. Understanding the bank’s assets is vital under conservatorship, as the goal of the regulatory body is to dispose of the assets as quickly as possible while recovering as much of the value of the assets through sales as possible.

Asset Specialist

An associate bank is a bank that is affiliated, usually through membership, in a regional or national organization.

An associate bank is a bank that is affiliated, usually through membership, in a regional or national organization such as a clearing house, an electronic payments network, or a bank card network, such as Visa or MasterCard. An associate bank is a bank that is affiliated, usually through membership, in a regional or national organization such as a clearing house, an electronic payments network, or a bank card network, such as Visa or MasterCard. The Electronic Payments Network is a private sector member of the ACH operated by the Clearing House Payments Co.
Most banks are associated with bank card networks that allow them to offer debit and credit card services to their customers. Banks in other countries may be associated with different bank card networks, although the largest bank card networks do allow customers to use debit and credit cards at ATMs and point-of-sale terminals around the world. An associate bank is a bank that is affiliated with a payments network, such as a credit card or automated clearing house, for the purpose of more efficient customer transactions.

Associate Bank

An automated teller machine is an electronic banking outlet for completing basic transactions without the aid of a branch representative or teller.

Bitcoin ATM Installations Growth (United States)

Checking Account/ATM Fee Survey: 1st Half 2021.

What Are Daily ATM Withdrawal Limits and Debit Purchase Limits?

An automated teller machine (ATM) is an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller. ATMs require consumers to use a plastic card—either a bank debit card or a credit card—to complete a transaction. Cryptocurrency enthusiasts can now buy and sell Bitcoin and other crypto tokens via Bitcoin ATMs, internet-connected terminals that will dispense cash in return for crypto or accept cash or credit card to purchase. Account-holders can use their bank's ATMs at no charge, but accessing funds through a unit owned by a competing bank usually incurs a fee. ATMs are known in different parts of the world as automated bank machines (ABM) or cash machines.

Automated Teller Machine (ATM)

An automatic transfer of funds is a standing banking arrangement whereby transfers from a customer's account are made on a regular, periodic basis.

An automatic transfer of funds is a standing banking arrangement whereby transfers between a customer's two (or more) accounts are made on a regular, periodic basis under specified conditions. When funds are needed in the ZBA, the exact amount of money required is moved to the account through an automatic transfer of funds from a central, or master, account. An automatic transfer of funds is a standing banking arrangement whereby transfers from a customer's account are made on a regular, periodic basis. Another common use of these transfers is for overdraft protection, whereby funds are moved from a higher-interest-earning account to cover payments due in another account. Automatic transfers can be used to move money from one bank account to another one, like from a checking account to a savings account.

Automatic Transfer of Funds

An automatic transfer service (ATS) is a banking service that generally describes the overdraft protection for customer checking accounts.

An automatic transfer service (ATS) is a banking service, in both a generic and specific sense, offered to customers. More specifically, an automatic transfer service describes the overdraft protection that a bank provides when it transfers funds from a customer's savings account to his or her checking account, at times when insufficient funds exist to cover unpaid checks and/or maintain a minimum balance.
Ordinarily, a bank will transfer the exact amount of funds required to cover unpaid checks. Checking accounts differ from savings accounts in that checking accounts generally offer unlimited withdrawals and deposits, while savings accounts limit these. Checking accounts can be open to commercial or business accounts, student accounts, and joint accounts, along with many other types of accounts that offer similar features. Most commonly, an auto-transfer service refers to the overdraft protection service offered by most banks, in which funds are transferred from one customer's account to another (such as from a savings account to a checking account) to avoid fees at times when there are insufficient funds.

Automatic Transfer Service (ATS)

Availability float refers to the time period between when a deposit is made and when funds become available in an account.

Consumer Assistance & Information - Check 21

Availability float refers to the interval between when a deposit is made to a banking account and when funds become available, specifically relating to check deposits. Direct deposits may eliminate the risk of losing a physical check, the need to visit a bank's physical branch location, and can also lessen the risk of losing the check enroute (as well as theft).
Direct deposit and other forms of electronic banking may be more efficient but may also increase online security risks. Availability float refers to the interval between when a deposit is made to a banking account and when funds become available, specifically relating to check deposits. Availability float for checks depend on several factors, such as delays in depositing a check, delays in the manual processing of a check, weekends and holidays, etc. Companies can reduce an availability float by moving to an electronic payment system, as this reduces the reliance on a bank's processing speed for physical checks.

Availability Float

The term availability schedule refers to the period of time required for the funds from a deposited check to become available to the check recipient.

Regulation CC (Availability of Funds and Collection of Checks)

In banking, the term availability schedule refers to the period of time required for the funds from a deposited check to become available to the recipient. For new account holds, funds must be available no later than the ninth business day after deposit; whereas for exception holds, they must be available within seven business days. For statutory holds, $200 of the deposit must be made available the first business day after the deposit, $600 the second business day, and the rest on the third business day. Specifically, exception holds can be made when an account has been overdrawn for a certain number of days during the previous six months, when the depository bank has good reason to think the check won't clear, when the instrument being deposited is an image replacement document (IRD) of a previously returned instrument, or when an item is accepted for deposit during a banking computer failure or power outage. The rules are the same for large deposits, except that the bank must make $4,800 available on the third business day, with the rest available no later than the seventh business day.

Availability Schedule Defined

Learn more about the available balance, the balance in checking or on-demand accounts that is free for use by the customer.

The available balance is the balance in checking or on-demand accounts that is free for use by the customer or account holder. The available balance is the balance available for immediate use in a customer's account. If an issuing bank has not cleared a check deposit, for example, the funds will not be available to the account holder, even though they may show up in the account’s current balance. The available balance is the balance in checking or on-demand accounts that is free for use by the customer or account holder. As noted above, the available balance represents the funds available for immediate use in a customer's account.

Available Balance

To avalize is the act of having a third party guarantee the obligations of a buyer to a seller per the terms of a contract.

To avalize is the act of having a third party (usually a bank or lending institution) guarantee the obligations of a buyer to a seller per the terms of a contract, such as a promissory note or purchase agreement. In addition to supporting the creation of promissory notes, avalizing can come in handy with a range of purchase agreements, including a bond purchase agreement, cross-purchase agreement, and matched sale-purchase agreement. As with a bond purchase agreement and promissory note, the cross-purchase agreement document outlines specific terms. To avalize is the act of having a third party (usually a bank or lending institution) guarantee the obligations of a buyer to a seller per the terms of a contract, such as a promissory note or purchase agreement. To avalize is the act of having a third party (usually a bank or lending institution) guarantee the obligations of a buyer to a seller per the terms of a contract, such as a promissory note or purchase agreement.

Avalize

The average collected balance is the balance of collected funds (less any uncleared or uncollected deposits) in a bank account over a specified period.

The average collected balance is the average balance of collected funds (less any uncleared or uncollected deposits) in a bank account over a specified period, usually one month. Many forms of deposit accounts exist, including checking accounts, savings accounts, call deposit accounts, money market accounts, and certificates of deposit (CDs).
Checking accounts allow both withdrawals and deposits (and are also called demand accounts or transactional accounts). The average collected balance is the average balance of collected funds (less any uncleared or uncollected deposits) in a bank account over a specified period, usually one month. The average collected balance refers to the average balance of collected funds in a bank account over a specified time, most often a month. The average collected balance represents the full amount for which the bank must pay interest (excluding any uncollected funds).

Average Collected Balance

Average daily float refers to the dollar amount of negotiable instruments that are in the process of collection during a given period.

Average daily float refers to the dollar amount of checks or other negotiable instruments that are in the process of collection by a bank, financial institution, or other entity over a certain period, divided by the number of days in the period. For example, if Company XYZ has $300 of float outstanding for the first 10 days of the month, $450 of float outstanding for the second 10 days of the month, and $230 days of float outstanding for the third 10 days of the month, the average daily float calculation would look like this:
Average Daily Float = ((300x10) + (450x10) + (230x10))/30 = $326.66 Average daily float is calculated by averaging the dollar value of float outstanding by the number of days of the month or other given period that amount was outstanding, then dividing it by the number of days in the period. Average daily float in the banking system as a whole increased during the 1970s due to an increase in the use of checks, high inflation, high-interest rates, and the common practice of drawing funds from faraway banks in order to take advantage of remote disbursement, or transportation float. The Monetary Control Act of 1980 resolved many of the issues that had contributed to high average daily float in the 1970s, while the increasing use of electronic funds transfers in the 1990s reduced average daily float to $774 million by 2000.

Average Daily Float

Back-to-back letters of credit consist of two LOCs used in conjunction to help sellers finance the purchase of equipment or services from a subcontractor.

In turn, Broker B will use that LC to go to its own well-known financial institution in Germany and have it issue an LC to Company A.
Company A can now ship its heavy machinery knowing that once the transaction is complete, it will be paid by the German bank. A back-to-back letter of credit is usually used in a transaction involving an intermediary between the buyer and seller, such as a broker, or when a seller must purchase the goods it will sell from a supplier as part of the sale to his buyer. Back-to-back letters of credit are actually made up of two distinct LoCs, one issued by the buyer's bank to the intermediary and the other issued by the intermediary's bank to the seller. Back-to-back LCs essentially substitute the two issuing banks' credit to the buyer's and intermediary's and thus help facilitate trade between parties who may be dealing from great distances and who may not otherwise be able to verify one another's credit.

Back-to-Back Letters of Credit

A bad bank is one that is set up to buy the bad loans of another bank with significant nonperforming assets at market price.

A bad bank is a bank set up to buy the bad loans and other illiquid holdings of another financial institution. These included:
An on-balance-sheet guarantee (often a government guarantee), which the bank uses to protect part of its portfolio against losses
A special-purpose entity (SPE), wherein the bank transfers its bad assets to another organization (typically backed by the government)
A more transparent internal restructuring, in which the bank creates a separate unit to hold the bad assets (a solution not able to fully isolate the bank from risk)
A bad bank spinoff, wherein the bank creates a new, independent bank to hold the bad assets, fully isolating the original entity from the specific risk A bad bank is a bank set up to buy the bad loans and other illiquid holdings of another financial institution. Critics of bad banks say that the option encourages banks to take undue risks, leading to moral hazard, knowing that poor decisions could lead to a bad bank bailout. A bad bank structure may also assume the risky assets of a group of financial institutions, instead of a single bank.

Bad Bank

Balance reporting is a report by a bank to a customer, normally a company or organization, informing the customer of the balances in their accounts. 

Balance reporting is a report by a bank to a customer, normally a company or organization, informing the customer of the balances in their accounts. Some balance reporting features of business and organizational bank accounts include:
Real-time pending transaction reporting
The ability to search for and isolate specific transactions in a report
Front and back images of deposit tickets and canceled checks
The ability to download balance reports in PDF or other file formats, such as Excel
Balance reporting may also allow customers to archive, print, fax, email, or electronically store check images. These real-time reports are vital to the customer's cash-management program, especially for companies with far-flung operations and banking relationships in many countries and time zones, because they allow companies to see exactly how much money is in all of their accounts at the time the report is created. Some balance reporting features of business and organizational bank accounts include real-time pending transaction reporting and the ability to search for and isolate specific transactions in a report. Balance reports for corporate and organizational customers are typically much more complex, especially if multi-country operations are involved, and offer vital real-time reports of all their cash accounts.

Balance Reporting

Bank Administration Institute (BAI) focuses on improving banking standards (in the operations and auditing areas) while analyzing risks.

The Bank Administration Institute (BAI) is a non-profit organization that focuses on improving banking standards (in the operations and auditing areas) while analyzing risks and promoting productivity-enhancing technology solutions. In 1981, BAI launched the first electronic information service, Innerline, providing 24-hour access to world news briefs, American Banker news service, financial information on 8,500 publicly held corporations, and email and online registration for BAI conferences. BAI collaborates with financial services leaders from around the globe working in a variety of industry segments, and in particular:
Large and Regional Banks
Mortgage Companies
Regulatory Agencies
Credit Unions
Community Banks
Industry Solutions Providers & Fintech Companies The Bank Administration Institute (BAI) is a non-profit organization that focuses on improving banking standards (in the operations and auditing areas) while analyzing risks and promoting productivity-enhancing technology solutions. During the 2010s, the BAI shifted its focus to promoting new financial technologies such as web-based online banking, the development of mobile apps, and digital payments platforms.

Bank Administration Institute (BAI)

A bank card, also known as a physical card, is used to gain access to financial accounts held at the associated bank.

A bank card is any card issued against a depository account, such as an ATM card or a debit card. For example, a bank may offer programs where purchases made with bank cards associated with checking accounts also take a nominal portion of money each time the card is used and add those funds to the cardholder’s savings account. A bank card is a card that is linked to a depository account, including ATM cards and debit cards. Similar to other kinds of cards, bank cards can be used for e-commerce purchases and other kinds of spending, with the amount deducted directly from the account at the time of transaction. A bank card is any card issued against a depository account, such as an ATM card or a debit card.

Bank Card

Bank credit is the total amount of credit available to a business or individual to borrow from a banking institution.

The term bank credit refers to the amount of credit available to a business or individual from a banking institution in the form of loans. Banks typically offer credit to borrowers who have adverse credit histories with terms that benefit the banks themselves—higher interest rates, lower credit lines, and more restrictive terms. Types of bank credit include credit cards, mortgages, car loans, and business lines of credit. A credit card approval comes with a specific credit limit and annual percentage rate (APR) based on the borrower's credit history. Banks normally charge lower interest rates on secured credit because there's a higher risk of default on unsecured credit vehicles.

Bank Credit

Bank debits are used in bookkeeping for the realization of the reduction of deposits held by bank customers.

A bank debit is a bookkeeping term for the realization of the reduction of deposits held by bank customers. When the landlord deposits the check and the funds are withdrawn from your bank account, a bank debit will be marked on your account statement. A bank debit occurs when a bank customer uses the funds in their account, therefore reducing their account balance. Taken a step further, if you only had $175 in the account you will be charged an overdraft fee of $25, which will be a bank debit once you increase funds in your bank account. When a bank debit occurs and funds are withdrawn, the bank's liabilities are reduced, and the bank's liabilities are debited.

Bank Debits

Bank deposits are money placed into a deposit account at a banking institution, such as savings accounts, checking accounts and money market accounts.

Bank deposits consist of money placed into banking institutions for safekeeping. There are several different types of deposit accounts including current accounts, savings accounts, call deposit accounts, money market accounts, and certificates of deposit (CDs). These deposits are made to deposit accounts such as savings accounts, checking accounts, and money market accounts. Also known as certificates of deposit (CD), time deposit accounts tend to offer a higher rate of return than traditional savings accounts, but the money must stay in the account for a set period of time. In contrast, a money market account offers slightly higher interest rates than a savings account, but account holders face more limitations on the number of checks or transfers they can make from money market accounts.

Bank Deposits

A bank endorsement is an endorsement by a bank for a negotiable instrument, such as a banker's acceptance or a letter of credit.

A bank endorsement is a guarantee by a bank confirming that it will uphold a check or other negotiable instrument, such as a banker's acceptance, from one of its customers. A letter of credit is similar to a banker's acceptance in that a bank will guarantee an exporter payment for goods or services in the event that payment for the goods or services are not made on time or for the right amount. Checks are common forms of negotiable instruments but the most common types of bank endorsements are a banker's acceptance, also known as a time draft, and a letter of credit. A bank endorsement is a guarantee by a bank confirming that it will uphold a check or other negotiable instrument, such as a banker's acceptance, from one of its customers. There are many different types of letters of credit, including commercial letters of credit, standby letters of credit, and revolving letters of credit.

Bank Endorsement

A bank examination is an evaluation of the financial health of a bank. They are primarily concerned with the strength of the bank’s balance sheet.

A bank examination is an evaluation of the financial health and resilience of a bank. When evaluating the bank’s sensitivity to systemic risk, regulators will often use complex financial models that simulate the bank’s financial performance subject to various potential adverse changes in financial markets. In regard to the earnings criteria, regulators will examine the earnings quality of the bank, and whether those earnings appear stable enough to support the bank should it come under strain. Regarding liquidity, regulators will measure the bank’s ability to meet its financial obligations, using liquidity tests such as the current ratio, acid test, quick ratio, and cash ratio. As part of his investment screening process, he reads through the most recent bank examination for a national bank called XYZ Financial.

Bank Examination

Bank failure is the closing of an insolvent bank by a federal or state regulator. 

A bank failure is the closing of an insolvent bank by a federal or state regulator. The most common cause of bank failure occurs when the value of the bank’s assets falls to below the market value of the bank’s liabilities, which are the bank's obligations to creditors and depositors. a bank fails, the FDIC takes the reins, and will either sell the failed bank to a more solvent bank, or take over the operation of the bank itself. If the failing bank cannot pay its depositors, a bank panic might ensue in which depositors run on the bank in an attempt to get their money back. In the event that a failed bank is sold to another bank, account holders automatically become customers of that bank, and may receive new checks and debit cards.

Bank Failure

Bank fees are nominal fees for a variety of account set-up and maintenance, and minor transactional services for retail and business customers.

Examples of bank fees range from account maintenance charges, withdrawal and transfer fees, automated teller machine (ATM) fees, non-sufficient fund (NSF) fees, late payment charges, and others. Types of bank fees include account maintenance fees, withdrawal and transfer fees, and ATM fees. Here are some of the most common types of bank fees customers pay:
Minimum account balance fees: When the net interest margin for a bank is squeezed in a low-interest-rate environment, bank fees provide a measure of stability to bank earnings.

Bank Fees

A bank holiday is a business day during which financial institutions are closed. But many online banking services continue to operate.

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A bank holiday is a business day during which financial institutions are closed. In 2021, according to the Federal Reserve, bank holidays are as follows:
Jan. 1 (New Year’s Day)
Jan. 18 (Martin Luther King Day)
Feb. 15 (Washington's Birthday)
May 31 (Memorial Day)
June 18 (Juneteenth Observed)
July 5 (Independence Day Observed)
Sept. 6 (Labor Day)
Oct. 11 (Indigenous People’s Day)
Nov. 11 (Veterans Day)
Nov. 25 (Thanksgiving Day)
Dec. 24 (Christmas Day Observed) There are 11 bank holidays in the United States in 2021: New Year’s Day, Martin Luther King Day, Presidents Day, Memorial Day, Juneteenth, Independence Day, Labor Day, Indigenous People’s Day, Veterans Day, Thanksgiving, and Christmas. Jan. 18 (Martin Luther King Day)
Feb. 15 (Washington's Birthday)
April 2 (Good Friday)
May 31 (Memorial Day)
July 5 (Independence Day Observed)
Sept. 6 (Labor Day)
Nov. 25 (Thanksgiving Day)
Nov. 26 (1 p.m. close in the U.S.)
Dec. 24 (Christmas Day Observed) However, most school, business, and stock exchange calendars reflect closures on bank holidays that are also major holidays, such as New Year's Day, Memorial Day, and Presidents Day.

Bank Holiday

A bank levy is a UK tax on banks as well as a legal act of freezing a bank account in an attempt to recover a debt.

A bank levy is a type of taxation system on financial institutions of the United Kingdom in which banks are forced to pay government taxes over and above any normal corporate taxes that they may incur due to the risks they pose to the larger economy. A bank levy also refers to a situation in which a bank account is frozen due to a creditor’s legal attempt to get a debtor to repay its debt. A bank levy is also when a creditor freezes the bank account of a debtor in an attempt to collect on an outstanding debt. A bank levy is a type of taxation system on financial institutions of the United Kingdom in which banks are forced to pay government taxes over and above any normal corporate taxes that they may incur due to the risks they pose to the larger economy. The bank levy allows a bank to freeze the account(s) of a debtor until all the sought-after debt is repaid in full.

Bank Levy

The Bank of First Deposit (BOFD) is the bank where a check is initially deposited to an account.

A bank of first deposit (BOFD) is a bank at which an individual first deposits a check into his or her account. When a depositor draws a check from the same institution that wrote the check, this transaction is called an “on-us” item, where the depositor can immediately cash the check or deposit it into any account he holds at that particular bank. When a customer deposits a check at an institution that differs from that used by the check issuer, the check must be cleared through a private clearinghouse or some other third-party entity. In a lesser-used context, a bank of first deposit (BOFD) also signals an institution to which a check would be returned if the check is not paid. A bank of first deposit (BOFD) is a bank at which an individual first deposits a check into his or her account.

Bank of First Deposit (BOFD)

Learn more about bank ratings, a grade provided to the public by the FDIC and/or other private companies on the safety and soundness of banks and thrift institutions.

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The term bank rating refers to a letter grade or numerical ranking assigned to certain financial institutions by the Federal Deposit Insurance Corporation (FDIC) and credit rating agencies. Regulatory and credit rating agencies assign financial institutions bank ratings in order to alert the public about the safety and soundness of a financial institution. The term bank rating refers to a letter grade or numerical ranking assigned to certain financial institutions by the Federal Deposit Insurance Corporation (FDIC) and credit rating agencies. The system uses a scale of 1 to 5, where:
1 is the best rating possible while 5 is the worst
ratings of 1 and 2 are given to financial institutions that are in the best fundamental condition
institutions with a 3 may have some issues that are a cause of concern
4 or 5 indicates serious problems that require immediate action or careful monitoring Many agencies and companies use a proprietary formula to determine ratings while others use the CAMELS system to assess these financial institutions.

Bank Rating

Bank reserves are the cash minimums financial institutions must retain to meet central bank requirements. Read how bank reserves impact the economy.

Basel III: The Liquidity Coverage Ratio and Liquidity Risk Monitoring

Table of Contents
Expand It's important to note that even when the Federal Reserve decreases bank reserve minimums, banks must still meet LCR requirements to ensure they have enough cash on hand to meet their short-term obligations. A bank's reserves are considered part of its assets and are listed as such in its accounts and its annual reports.
A bank's reserves are calculated by multiplying its total deposits by the reserve ratio. Since March 2020, the reserve minimum has been zero, suggesting that the Federal Reserve is comfortable with the level of cash kept voluntarily by the nation's banks combined with the 30-day liquidity coverage ratio required by the Basel Accords. Bank reserves may be kept in a vault on-site or sent to a bigger bank or a regional Federal Reserve bank facility.

Bank Reserves

A bank statement is a record, typically sent to the account holder every month, summarizing all transactions in an account during a set time period.

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A bank statement is a document (also known as an account statement) that is typically sent by the bank to the account holder every month, summarizing all the transactions of an account during the month. A bank statement is a document (also known as an account statement) that is typically sent by the bank to the account holder every month, summarizing all the transactions of an account during the month. An electronic version of a bank statement is known as an electronic statement or e-statement and allows account holders to access their statements online where they can download or print them. An official bank statement is typically sent by the bank to the account holder every month, summarizing all the transactions of an account during the month. A bank issues a bank statement to an account holder that shows the detailed activity in the account.

Bank Statement

A bank is a financial institution licensed as a receiver of deposits and can also provide other financial services, such as wealth management.

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A bank is a financial institution licensed to receive deposits and make loans. There are several different kinds of banks including retail banks, commercial or corporate banks, and investment banks. This number includes national banks, state-chartered banks, commercial banks, and other financial institutions. Along with day-to-day business banking, these banks also provide their clients with other things such as credit services, cash management, commercial real estate services, employer services, and trade finance. Retail banks provide services such as checking and savings accounts, loan and mortgage services, financing for automobiles, and short-term loans like overdraft protection.

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A bank draft is a type of check that guarantees payment by the issuing bank after verifying the requesting customer has enough funds to cover it.

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Obtaining a bank draft is more difficult than obtaining a money order because the payer must go to his bank to purchase the draft, rather than using one of the more accessible institutions that sell money orders. The total amount of the draft is drawn from the requesting payer's account—their bank account balance decreases by the money withdrawn from the account—and is usually held in a general ledger account until the draft is cashed by the payee. Only a bank may issue a bank draft, while an approved institution, such as a certified store, post office, or bank, can issue a money order. The draft has a serial number—which identifies the remitting customer—watermarks, and may even have micro-encoding—identifying it as a legitimate financial instrument that can be negotiated when presented by the payee to their bank. Since the funds are already withdrawn from the requesting customer's account, the issuing bank ultimately becomes the payer.

Bank Draft

Bankable funds are methods of payment accepted by banks. Examples of bankable funds include cash, money orders, and cashier's checks.

The term "bankable funds" refers to methods of payment that are accepted by banks. As such, the purest example of bankable funds would be cash, while other instruments, such as cashier's checks, are also bankable. Today, the range of bankable funds is increasing due to technological innovations allowing owners of traditionally non-bankable assets to borrow easily against the value of their holdings. Money orders and cashier's checks are also considered bankable funds because they are fairly easy to convert to cash. Common types of bankable funds include cash, money orders, and cashier's checks.

Bankable Funds

A bankers' bank is a specific type of bank that a group of larger, more established banks create.

A bankers' bank is a specific type of bank that a group of larger, more established banks create. Bankers’ Bank now offers a large variety of products, including secondary mortgages, safekeeping, and portfolio accounting, lending alternatives, federal funds, cash letter processing, municipal bond underwriting, investment trading, and more.
The mission of Bankers’ Bank is “to enhance the value of community-based financial institutions by delivering the highest quality products and services at competitive pricing while providing a return to shareholders.”
Since the Bankers' Bank is not a retail bank, it does not compete with clients for market or charters. Credit unions and banks do offer similar services, such as accepting deposits, lending money and providing members with a range of other useful financial products (credit and debit cards, Certificates of Deposit, etc.). Credit unions will generally use any income generated to fund projects and services that will benefit the community and interests of its members (de-facto owners).
Credit unions range from small, volunteer-only operations to large entities with thousands of participants. Bankers' banks can help community banks to effectively compete with larger banking entities.

Bankers' Bank

A bank giro transfer is a method of transferring money by instructing a bank to transfer funds from one bank account to another without the use of physical checks.

A bank giro transfer is a method of transferring money by instructing a bank to directly transfer funds from one bank account to another without the use of physical checks. A bank giro transfer is a method of transferring money by instructing a bank to directly transfer funds from one bank account to another without the use of physical checks. While the giro transfer is a common form, other forms of payment, in addition to physical checks, include electronic checks (along with online banking more broadly), debit cards, mobile payments (in a range of app forms), and others. The bank giro transfer was developed to help companies increase their ability to receive payments on the goods and services that they provide. In a bank giro transfer, the one sending the funds (paying party) sends a request to the entity to whom it is forwarding the money.

Banking

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