LIFELINE ACCOUNT
A streamlined bank account designed for people with low incomes. Usually, these are for receiving salary payments. May be checking or savings account, it has low balance requirements and no monthly fees. Huge banking institutions offer this basic banking services to the public. In the United States, some of its states are mandated to offer lifeline accounts.
Basic features such as check writing will be available but with a limited monthly quota. Also, other features such as electronic services may be limited unless the bank account holder will pay additional fees.
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Target Return
Pricing model used in valuing a business based on what an investor expects from any capital invested in the firm. It is computed by adding the amou ...
Remainder Man
An individual who receives the remaining principal in a trust account after all required payments have been made, such as those to the beneficiary ...
Average Collected Balance
The total average of the collected funds in a bank account in a month. The balance is calculated by adding the collected balance and dividing it by ...
Bankable Funds
Forms of payment that are accepted at financial institutions. Retailers and other organizations that directly accept payments from customers typica ...
Prudent-Person Rule
A legal maxim that restricts the discretion in a client's account to investments that a prudent person seeking reasonable income and preservati ...
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