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A balance transfer involves moving debt from one credit card to another to take advantage of lower interest rates, while a money transfer involves sending funds from one account to another, typically between individuals.

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5mo ago

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What is a balance transfer?

A balance transfer is when you have money in one bank and transfer that money to another bank. It is also when you have a balance on one credit card and transfer the balance to another credit card.


What is balance of trade and payment?

Balance of payment is the difference between the money coming into the country and the money leaving the same country.


The difference between money coming into a country and money leaving a country is called?

balance of payments


Difference between balance of trade and balance of payment?

Balance of Trade is the accounting of goods and service imported and exported. Balance of Payments is the accounting of money owed and loaned other nations.


What's the difference between debit and credit in terms of financial transactions?

Debit is when money is taken out of an account, reducing the balance, while credit is when money is added to an account, increasing the balance.


What is the real difference between balance of trade and balance of payment?

Balance of Trade is the accounting of goods and service imported and exported. Balance of Payments is the accounting of money owed and loaned other nations.


Where can one check credit card lifetime balance transfer?

One can check credit card lifetime balance transfer by visiting the Money website. This website has comprehensive information about everything to do with money. It lists the 'Top 10 Life of Balance Transfer Credit Cards'.


What is the difference between NRE and NRO accounts?

The difference between an NRE and NRO account is that with an NRE account, you can't transfer money any way other than remittance from abroad. With NRO accounts, money is freely transferable.


What is the difference between an NRE and NRO account?

The difference between an NRE and NRO account is that with an NRE account, you can't transfer money any way other than remittance from abroad. With NRO accounts, money is freely transferable.


How would you define the balance of payments in international trade?

The balance of payments is an accounting record of the difference between the amount of money that a country receives (known as inpayments) and the amount of money that it pays out (known as outpayments).


What are some advantages of a 0 balance transfer?

When you have a balance on your credit card, you are paying interest. If you can find a credit card with a lower interest rate and a 0% balance transfer, you will be saving money.


What is the difference between a wire transfer and a bank transfer?

A wire transfer is a type of bank transfer that involves sending money electronically from one bank account to another, usually across different financial institutions or countries. A bank transfer, on the other hand, is a broader term that includes various methods of moving money between accounts within the same bank or between accounts at different banks.