bank account


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bank account

a contract between a customer and a bank whereby the bank obliges itself to honour cheques up to the amount deposited with the bank or up to an agreed overdraft limit. The overdraft is effectively a loan.
References in periodicals archive ?
The Financial Ombudsman Service said complaints about packaged bank accounts came in at around 1,000 a week in the six months to the end of June.
And part / package - Supports bank account and provide an overdraft facility to 50 million PLN.
The changes will minimise the risk that basic bank account customers will be forced into overdraft by fees or charges.
Reports say that those close to the negotiations say there have been disagreements in recent weeks about the structure of the new basic bank accounts and the level of fees that could be imposed for using them.
He failed to comply with the order on July 2 when he failed to register the details of a second bank account.
She promised to immediately return the money, only for the victim to discover that it had been withdrawn and deposited in her private bank account just hours later, according to court documents.
In the past, bank account relationships, combined with payment cards, have enabled banks to be the dominant providers of transaction services to their customers.
A fundamental distinction when looking at the mobile payments opportunity is whether the end user has a bank account or not," says Stela Bokun, senior analyst, Pyramid Research.
She added that those who have not yet entered their bank account number, they will be entitled to receiver retroactive payment once they have entered their bank account number in the Ministry's website.
Mr Webb said: "We are advising customers to change the bank account into which payments are made, for example by nominating an alternative bank account or the account of a 'trusted friend' which is permissible under our current rules on benefit payment".
A spokeswoman said a "watching brief" was in place on the situation but payments into Cypriot bank accounts would not resume when banks on the island reopen - currently planned for Thursday.
5 billion adults worldwide do not have a bank account, with the vast majority disproportionately located in the developing world.