CHECK ROUTING SYMBOL
Set of numbers showed as the denominator of a fraction, printed in the upper right portion of any check paid through the Federal Reserve system. It contains three to four digits and three pieces of information: district of the paying bank, facility processing the check, and funds’ availability the Fed assigned. The upper digit in numerical fraction is called the ABA transit number.
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Convertible Currency
Currency which can be easily and readily bought or sold for another currency without government restrictions. Also known as hard currency.
Nominal Interest Rate
The interest rate before taking inflation into account. The nominal interest rate is the rate quoted in loan and deposit agreements. The equation t ...
Automated Clearing House - ACH
A fund transfer system that deals with direct deposit, payroll, consumer bills, tax refunds, and many more payment services.
Flipping
Flipping refers to a real estate investment strategy where investors buy properties and then sell them for a profit.
Transfer-for-Value Rule
Tax-liability rule stating a portion of the death benefit is considered an ordinary income and subject to taxation if a life insurance policy is so ...
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