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Usually if it's a joint account if means the main named person on the account. for example if you are the priamry account holder you need to by the one who sign's to set up direct debits etc. However if it's a joint loan & you have insurance on it & the primary person comes out of work, the insurnace will pay, however if the secondary person comes out of work - they poss will not pay out
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∙ 15y ago
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What does ITF internal transfer of funds mean on a bank account?
what does itf mean on a bank account
What does relationship bank account mean?
A relationship bank account does not use money...
What does TR FOR mean on a bank account?
The meaning of TR on a bank account is asset based financing.
What does FRB mean on a bank statement?
Fixed rate bond: ie the interest being paid into the nominated account
What does pending mean on a deposit in the bank?
Pending means, that the payment instrument that you deposited in your bank is awaiting clearing. Meaning it is being sent back to the issuing bank and funds would then be cleared from the issuing bank to your bank account.
What does beneficiary to a bank account mean?
A beneficiary is the person to whom the proceeds of a bank account would be paid if the primary account holder of that bank account dies. They can also be termed the nominee for a bank account. This is very important for cases wherein the account holder does not have a legal will stating to whom his account proceeds should go. In such cases the bank would choose the nominee or beneficiary and pay them the account proceeds.
My bank asked if I want to open a current accounts what does this mean?
A current accounts is one of the two primary components of the balance of payments, the other being capital account. This type of account is used to increase the country's net foreign asset.
What does ITF internal transfer of funds mean on a bank account?
what does itf mean on a bank account
What does relationship bank account mean?
A relationship bank account does not use money...
What does bank account holder mean?
its a type of bank account where the name of the account holder is kept secret.
What does TR FOR mean on a bank account?
The meaning of TR on a bank account is asset based financing.
Does Credit mean the increase side of an account?
what do you mean by increased side? it depends on which account you are talking. in bookeeping entries of a company a credit on its bank account means money going out the business. in a reserve account it means money being added to the reserves! If on the other hand you are talking about a bank account (personal) this normally means depositing.
What Does Bank Account Name mean?
It is the name of the account holder
What does FRB mean on a bank statement?
Fixed rate bond: ie the interest being paid into the nominated account
What does pending mean on a deposit in the bank?
Pending means, that the payment instrument that you deposited in your bank is awaiting clearing. Meaning it is being sent back to the issuing bank and funds would then be cleared from the issuing bank to your bank account.
What does Bank balance mean?
It means how much money you have in an account at the bank.
What does CR mean on a bank account?
credit
