Tooltip Categories: Economics & Finance

barter economy

A system of exchange by which goods or services are directly exchanged for other goods or services without using a medium of exchange, such as

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Basic Bank Account Number [BBAN]

The identifier used by financial institutions in individual countries as part of a National Account Numbering Scheme, which uniquely identifies an account of a customer

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basic income

A basic income is a periodic cash payment unconditionally delivered to all on an individual basis, without means-test or work requirement. (source: http://basicincome.org/basic-income/)

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basic payment account

The EU recommends that European consumers who do not have a paid account should be able to open and use a basic payment account, irrespective

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batch

The quantity of material, things or documents, prepared for one operation.

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be overdrawn

To take out more money from a bank account than there is in it. (source: http://www.investorwords.com/10515/overdraw.html#ixzz2KFDbpnau)

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banking license

A prerequisite for a financial institution that wants to provide banking services. (source: http://en.wikipedia.org/wiki/Banking_license)

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banking ombudsman

The role of the ombudsman is to conduct a thorough and impartial investigation of all of the issues relating to customers’ concerns.

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banking secrecy

One of the conditions of the relationship between a bank and its customers is that the customers’ dealings and financial affairs will be treated as

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banking system

As financial intermediaries, banks stand between depositors who supply capital and borrowers who demand capital. Given how much commerce and individual wealth rests on healthy

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