What Are The Words Associated With Banking?

What is another word for vault?

What is another word for vault?cryptcatacombcellartombundercroftbasementcatacombscavernmausoleumsepulchreUK30 more rows.

What is thrift mean?

1 : careful management especially of money. 2 : a savings bank or savings and loan association.

How many types of banking are there?

There are two broad categories under which banks are classified in India- SCHEDULED AND NON-SCHEDULED BANKS. The scheduled banks include COMMERCIAL BANKS AND COOPERATIVE BANKS. The commercial banks include REGIONAL RURAL BANKS, SMALL FINANCE BANK, FOREIGN BANKS, PRIVATE SECTOR BANKS, and PUBLIC SECTOR BANKS.

What are the four types of bank accounts?

The most popular types of accounts for your money include checking accounts, savings accounts, certificates of deposit (CDs), and money market accounts.

What are the terms used in banking?

10 Essential Banking Terms You Need to KnowRouting number. A nine-digit number that identifies your financial institution. … FDIC. The Federal Deposit Insurance Corp. … Certificate of deposit. … APY. … APR. … Compound interest. … Savings account. … Returned item fee.More items…•

What’s another word for bank?

What is another word for bank?lendermortgageefinancial institutionsavings bankbuilding societyclearing bankhigh-street bankmerchant banksavings and loansavings and loan association8 more rows

What are the 5 most important banking services?

Different types of business banking services include:Business loans.Checking accounts.Savings accounts.Debit and credit cards.Merchant services (credit card processing, reconciliation and reporting, check collection)Treasury services (payroll services, deposit services, etc.)

What is the opposite of bank?

Antonyms of BANK item, withdraw, spend, entity, level, take out, straighten, disburse, unit, single, even.

What are the features of a bank?

Characteristics of a Bank / Features of BankingIt may be an Individual/Firm/Company.It is a profit and service oriented institution.It acts as a connecting link between borrowers and lenders.It deals with money.It accepts deposits from public.It provides Advances/Loans/Credit to customers.More items…•

What is the word for taking money out of the bank?

Debit. This is money taken out of your bank account or money you owe. … In addition, you can use this word as a verb: To debit money means to take out money from an account.

How do you describe a bank account?

A bank account is a financial account maintained by a bank or other financial institution in which the financial transactions between the bank and a customer are recorded.

What are 3 functions of a bank?

Functions of Commercial Banks: – Primary functions include accepting deposits, granting loans, advances, cash, credit, overdraft and discounting of bills. – Secondary functions include issuing letter of credit, undertaking safe custody of valuables, providing consumer finance, educational loans, etc.