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Money transfer refers to the transaction wherein money is transferred from one bank account to another. Ex: If you want to transfer $1000 from your account to your friends account then you have to perform a money transfer
It could mean: Internal Transfer of Funds In Trust For Interim Trust Fund International Trust Fund If the bank account is a ITF ("in trust for") or FBO ("for benefit of") type of trust account, then the beneficiary will gain immediate control of the account upon your death without going to court, though possibly subject to estate tax.
Hold on there Bucky! This sounds like a scam. Contact your bank for legitimate stuff. Nobody is going to send you money from Africa. But they will empty your bank account for you.
It means "pay on death" and it's used to declare a beneficiary for the bond.
The term Telegraphic Transfer ot Telex Transfer, often abrreviated to "TT", is an electronic means of transferring funds overseas, A transfer charge is collected while sending money. A banking term commonly call T/T, meaning cable message from one bank to another in order to effect the transfer of money. It is most often in UK Banking to refer to a CHAPS transfer, that is a payment made via the Clearing House Automated Payments System. The term is also used to describe other electronic funds transfer methods and incorrectly, BACS (Bankers Automated Clearing Services) and the AFTS (Automated Funds Transfer System) payments.
It means it is in progress. In transit refers to a money transfer that is still in progress within the banking channel. The wire transfer's funds are snaking its way across to the beneficiary, and whilst it is in progress, as depending on the type of wire transfer, etc. some banks can take from a few hours to a few days for the wire transfer to be completed.
Money transfer refers to the transaction wherein money is transferred from one bank account to another. Ex: If you want to transfer $1000 from your account to your friends account then you have to perform a money transfer
It mean to have a chance to get some money wen somebody dies and they lawn it to you that means give it to you.
I don't understand what you mean by ''he is a rider'', do you mean he is the named beneficiary? If so and he dies prior to you, you need to name another beneficiary, or perhaps you already have a 'second' or contingent beneficiary, in that case the money would be paid to this contengient if the primary beneficary is deceased.
It means that if you want to change the beneficiary, the beneficiary themselves must sign off on it.
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In that case the benefit would be paid into the beneficiary's estate, though that doesn't necessarily mean their heirs will receive it. However, if there is a contingent (secondary) beneficiary they would receive the benefit.
It is the beneficiary of an annuity.
If there is a policy on your life the person currently listed as the beneficiary will be paid upon your death. The person listed as the owner of the policy is the only one who has the right to change the beneficiary. Usually the owner and insured are the same person but not always. You may wish to check on this and change the beneficiary if your situation has changed.
It could mean: Internal Transfer of Funds In Trust For Interim Trust Fund International Trust Fund If the bank account is a ITF ("in trust for") or FBO ("for benefit of") type of trust account, then the beneficiary will gain immediate control of the account upon your death without going to court, though possibly subject to estate tax.
In regards to life insurance, contingent usually means secondary. For example a contingent beneficiary is a secondary beneficiary, not the primary beneficiary. The contingent beneficiary would receive the proceeds from a life insurance policy if the primary beneficiary were not alive when the insured person dies.
Generally, the proceeds will be paid to the named beneficiary. However, the survivor should discuss the situation with an attorney.