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9y ago

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What is the term for a type of account that earns interest as money is deposited?

money


What does Vautma stand for?

It is the term used for a Custodial Account - the kind of account that most parents would get as a "money market" savings account for their child. I'm not sure what the letters actually stand for, but that's what it means.


How can you add money to a term deposit?

To add money to a term deposit, you can make a deposit at the bank or financial institution where the term deposit is held. You can do this by transferring funds from your savings or checking account into the term deposit account.


What technical word starts with the letter O?

Overdrawn is a technical banking term. It means that you do not have enough money in your checking account to cover your check.


What is the term for the amount of money you have in your account?

The amount of money available in an account is usually referred to as the "balance" of the account. The cash balance may be positive or negative.


What does the term factoring money mean?

The term 'factoring money' means selling debt one is owed to a company who take over responsibility for collecting that money. They earn a profit by paying less than the value of the money owed to you.


What is long term finance?

Long term finance simply means money that is set aside for achieving goals that may take a long period of time. An example of long term finance may be retirement savings.


What does considered mean?

The word 'consider' means to think about, to contemplate mentally, give attention to or take into account.


What does P O D R mean on a bank account?

PODR means preferred overdraft rate. (Santander have a current account of this type). This term is used when you have an overdraft on a current account at an agreed limit and pay a regular sum of money into the account (example, your monthly pay).


What do you mean by term Address?

The term address means the physical location of something. In email, the term address means the name of the email account where you receive emails.


Is the amount of money in your checking account called your allowance?

No, the proper banking term is balance for an amount in a checking account.


Is my money harder to access in a CD Account instead of a Money Market Account?

Yes, Certificates of Deposit (CDs) are fixed term deposits. That means you can't access the money (except for a large penalty) for the term of the deposit, usually anywhere from 3 months to 5 years. Money Market accounts are typically much more liquid, though they may limit withdrawals per month.