What is a Bank Statement?DefinitionA bank statement, also known as account statement, is a financial term used to refer to a confidential document that is sent from a bank to its account holders every...
What is Bank Identification Number (BIN)?Definition A bank identification number (BIN) refers to the first four to six numbers reflected on a bank-issued card. The first digit of the BIN represen...
What is Bank Deposits?DefinitionBank deposit refers to the money an account holder keeps (deposits) in the bank for safekeeping to be accessed at a later date. The account holder has full rights to ac...
What is Bank Reserve? Loans are usually given after a corresponding or overly compensating value of the collateral has been signed in. In like terms, bank reserve refers to the bulk of curre...
What is Bancassurance? DefinitionThis refers to the relationship between a bank and an insurance company permitting the insurance company to market and sell its insurance products to a bank�...
What is a Bank? “…an establishment for custody of money, which it pays out on customer’s order.”Oxford DictionaryDefinitionA bank is the major financial institutio...
What is a Bank Credit?Definition‘Bank Credit’ is a financial term used to refer to the amount of money a business or individual can borrow from a bank. It is also referred to as the money tha...
What is a Bank Confirmation Letter (BCL)?DefinitionA bank confirmation letter is a letter that confirms an established loan or line of credit with a financial institution. It is a letter gotten f...
What is Bandwagon Effect?DefinitionThe Bandwagon effect is a term used when a person or group of people act in a certain way or do something majorly because other people are doing it not necessar...
What is Bank Bill Swap Rate (BBSW)?DefinitionThe bank swap rate, also known as Bank Reference Rate, is the rate banks charge to lend money to each other in Australia. In the happening of an unexp...