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Cash deposits or checks that have been presented for payment and for which payment has been received.
One type of debt instrument issued by the United States government to the general public. The bonds are available in small denominations and are purchased at a discount to earn interest at a prescribed rate.
The best CD rates available nationally ticked up a notch for the week ending May 6, 2011. The average rate for the highest CD rates covering all CD terms surveyed by Selectcdrates.com from three months to five years was 1.383 percent or .014 percent higher than the previous week. The increase in the
The Federal Deposit Insurance Corp released the quarterly banking industry profile report this morning. This FDIC report provides a summary of financial results for all FDIC insured institutions. This morning’s report indicated some encouraging numbers for the bank industry. Unfortunately, these encouraging numbers will not help those placing their investments or savings
A strip of relatively flat and normally dry land alongside a stream, river, or lake that is covered by water during a flood.
Any and all persons designated and authorized to transact business on behalf of an account. Each account holder’s signature needs to be on file with the bank. The signature authorizes that person to conduct business on behalf of the account.
Michigan has certainly seen its share of economic adversity in recent years. One bright spot in the economic morass is the financial returns offered by investing in the certificate of deposits found at Bank of Auburn Hills. Bank of Auburn Hills has three CDs with some of the highest interest rates for their terms. The
The production and distribution of goods and services.
A notification by a paying bank that an item presented for payment has been paid or that cannot be honored. Also used in securities to verifying that a customer’s signature is genuine.
There are several banks in Mississippi that have interest rates well above the national averages. One bank that continues to offer some of the highest CD rates in the state is Mechanics Bank. Mechanics Bank can be found within the top five banks with the highest CD rates for the 6 month term CDs, the
A pre-approved loan authorization with a specific borrowing limit based on creditworthiness. A line of credit allows borrowers to obtain a number of loans without re-applying each time as long as the total of borrowed funds does not exceed the credit limit.
One of the most overlooked charges by banks that extract money from your checking account, savings account or money market account is minimum balance fees. If you are a banking customer that frequently takes your account balance to a bare minimum be sure to you are not in a bank account that charges for low minimum balances.
The number used to identify an individual or entity for federal income tax purposes.
The formulation and issuance by authorized agencies of specific rules or regulations, under governing law, for the conduct and structure of banking.
Most certificates of deposit pay a fixed interest rate until they reach maturity. But, like many other products in today’s fractured financial markets, bank CDs have become more complicated. Bank customers may now choose among variable rate CDs, CD rates based on an index, long term CDs, and CDs with special redemption features. Choose carefully
A written order instructing a financial institution to pay immediately on demand a specified amount of money from the check writer’s account to the person named on the check or, if a specific person is not named, to whoever bears the check to the institution for payment.
Citigroup is a diversified bank holding company whose businesses offer a large range of financial services to consumer and corporate customers throughout the world. Retail banking is offered through products and services of Citibank, N.A. a FDIC insured bank.
Citibank, N.A. is a commercial bank and wholly-owned subsidiary of Citigroup Inc. Citibank’s principal offerings include consumer
If you write a check or make a purchase for more than you have in your checking account, your bank may cover the difference. This is still an overdraft, but one where the amount that has drawn the bank accounts below the amount of available of funds in the account is paid by the
An endorsement on a check by a bank customer put there only to get the bank to cash the check for someone else, usually a non-customer. The endorser making the accommodation doesn’t benefit from the check or otherwise use it, but agrees to pay for the check if it bounces.
The rate at which money balances turn over in a period for expenditures on goods and services. Moat often measured as the ratio of GNP, gross national product, to the money supply. A larger velocity means that a given quantity of money is associated with a greater dollar volume of transactions.
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