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2011-08-06 20:08:26
2011-08-06 20:08:26

At a credit union, you can have checking, savings, money market, etc. just like you would have at a bank. One difference is that credit unions are owned by its members (account holders), rather than stockholders.


Related Questions

A savings account is a type of deposit account - an account at a financial institution such as a bank or credit union, where the account holder may make deposits and/or withdrawals.

Yes, if the account type is considered a line of credit it will be calculated into your revolving account balance on your credit report.

Sales is a revenue account and has a credit balance as a normal balance.

Depending on what type of account it is, there are a few reasons for account cancellation. Perhaps the credit card on file has expired or you were banned from the website.

Yes, anytime you open a new credit account, even if it is a joint account, it is reported on your credit report either when it is opened or when it is unpaid.

An Internet Merchant Account is a type of credit card processing account specifically geared to accept web based transactions in real timeAn Internet Merchant Account is a type of credit card processing account specifically geared to accept web based transactions in real time

The answer depends upon what type of account you have. There are different types of accounts which have a card. The typical credit card is issued on a revolving account. This type of account allows the consumer to pay a minimum balance (set by the credit card company) and REVOLVE the remainder over to the next month. This is a costly proposition for the consumer, incurring the most interest charges. A charge card (as opposed to a credit card) may be issued on an open account. This type of credit grantor, the most well-known of which is American Express, issues an account which has no credit limit, but must be paid in full every month. There are no credit terms on such an account, and there is no way to revolve the balance over. Some department stores also issue cards on this type of account. It is important to know which type of account you have and to pay according to the terms of your specific card holder agreement.

Asset Contra account to Accounts Receivable (Contra-Asset). Normal balance is credit.

sundry creditors is a personal account. the rule applying would be debit the reciever, credit the giver

A merchants account credit card is a special type of credit card that is issued from a merchant acquiring bank. These credit cards allow a vendor or business to accept payments from customers using a credit card.

The main advantage and reason for an Ecommerce Merchant Account is that this account type gives an opportunity to process online credit card payments.

Accumulated depreciation is a contra-asset account and show in the asset section of the Balance Sheet. It is called contra-asset account because contrary to any asset account Acc. Dep. is a credit type of account. The offset of Accumulated depreciation is to Debit the expense account Depreciation.

Recover your account. Make sure you always set recovery questions + Email on your account. Many other things such as your payment transaction # and credit card type is an essential. Hope you retrieve your account.

A merchant processing account is an account that allows a business to accept payment from credit and debit cards. This allows payments to be processed electronically.

An instant merchant account is a specific type of account used by various businesses to carry out transactions or payments made by credit and debit cards.

This type of account is called "foreign currency account".

Building account is nominal account.

Account recievable is a account that records the amount should be received . Accounts receivable are the short-term financial assets of a wholesaler or retailer that arise from sales on credit. This type of credit is often called trade credit. Terms of trade credit usually range from 5 to 60 days, depending on industry practice.

Accounts payable is a liability account. When something is purchased on account it falls under this category such as purchasing $10,000 worth of office supplies on account. You would debit the office supplies account under assets and credit accounts payable under liabilities.

How long to keep a credit balance on a customer's account depends on the balance, type of account, and state laws. Generally amounts lower than $10 must be kept on record for 1 year.

Depends on what "Type" of Credit Holder you are. Here is how that will go: If you are what is known as an authorized user on the account. (i.e. - The Primary account holder has given you permission to make charges on the account), the answer is No. The primary account holder is responsible for any charges he/she has allowed you to make on the account. If you are a Secondary account holder (i.e. -your name was put on the account APPLICATION at the time the card was applied for), then your answer is YES. If the Primary account holder defaults on the account, then the credit card company will turn to try and collect from the Secondary account holder. BEWARE of becoming a secondary holder on anything that has to do with credit. If you know that the Primary holder may default, you could get stuck with a huge amount of debt on your hands, and if you can't pay, your nice credit score of 783 could very quickly go down the drain to 535 or lower.

balance sheet account liability

A revolving department store credit card means that the interest accumulates monthly and the balance carries over. Most credit cards that are issued by a department store have this type of account.

It depends on the type of account you open with them. For ex:Multi Gains Savings account needs a Rs. 25000 minimum balanceNo Frills Savings account - Rs. 25 but the total deposits in one year into the account cannot exceed one lakhThe minimum deposit would vary from one account type to another. If you visit their branch they can tell you exactly how much is required depending on the type of account you choose.

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