Mirror Account is the reflection of NOSTRO Account in the books of the principal bank. This is maintained for reconciliation purpose and is maintained in both foreign currency and rupees. (e) Exchange Position: Foreign Exchange rates are always subject to fluctuation and sometimes the market is extremely volatile.
What is a club bank account?
According to investorwords.com, a club account is defined as â€œAn interest-bearing savings account offered by a financial institution to investors looking to save for a particular purpose, such as a holiday vacation. A club account is funded by the investor when it is opened, and typically remains open for one year.â€ 19 Nov 2019
What is a college bank account called?
A student bank account is a checking or savings account that a bank, credit union or other financial institution offers to students. Student accounts may have reduced fees and special features designed to meet students' financial needs.
What is a ghost bank account?
A ghost authorization is when a merchant asks a bank to authorize a small amount against a customer's credit card or debit card through their merchant account prior to authorizing their actual purchase.
The key problem with policies like â€œghost authorizationsâ€ is they leave the customer out of the conversation. 22 Feb 2021
What is a guardian bank account?
Children and Guardianship Accounts Children are not legally allowed to open a bank account or manage their own money in an account.
With a guardianship account, the money does belong to the child. The guardian of the account manages the money for a child but doesn't have any ownership over that money. 1 Sept 2021
What is a normal bank account called?
People often refer to Current Accounts as Bank Accounts. A Current Account provides an everyday banking facility, so you can pay bills, check your balance, transact with your debit card and more.
What is a student bank account?
What is a student bank account? There is nothing complicated about a student bank account. It is simply a current account designed to be used by people enrolled in higher education. You can pay money in or have any income you get paid into it, and then use the account to pay your bills or withdraw funds. 7 Dec 2020
What is a traditional bank account?
Traditional Bank has a variety of personal checking accounts, all with debit card and online banking access. Whether you prefer to do your banking from your mobile device, or like to write paper checks and receive a mailed statement, we have an account to fit your lifestyle.
What is a credit bank?
credit bank. noun [ C ] BANKING. used in the names of some banks that lend money: Federal Intermediate Credit Banks provide short-term loans to the agricultural sector.
What is a CPN bank?
The acronym "CPN" on a bank statement typically signifies the "credit profile number" of the account holder, which may be an individual, a nonprofit organization or a business. A credit profile number is a nine-digit number that identifies the account holder and ties the account's activity to his credit record.
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