on account of payment
101money-market deposit account — MMDA A high yielding savings account introduced in the USA in 1982 to allow deposit taking institutions to compete with the money markets for savers funds. As long as the account has a balance of more than $1000 there is no regulatory limit on… …
102now account — ˈnȧu noun Usage: usually capitalized N&O&W Etymology: negotiable order of withdrawal : a savings account on which checks may be drawn * * * Now account «now», U.S. a savings account from which a depositor may withdraw money by check for payment… …
103Revolving account — A revolving account is a type of debt account where the outstanding balance does not have to be paid in full every month by the borrower to the lender. The borrower may be required to make a minimum payment, based on the balance amount. The most… …
104reserve account — A type of credit enhancement used in some asset backed securities. The reserve account may be created by an initial deposit from the seller and may be augmented over time by the application of funds from excess servicing income. Credit is… …
105merchant account — ➔ account1 * * * merchant account UK US noun [C] ► BANKING, COMMERCE a type of bank account that businesses use to accept payment by credit card …
106on account — Sale on credit. In part payment; in partial satisfaction of an account. The phrase is usually contrasted with in full. See also account (open account) …
107interim payment — A payment on account of any damages, debt or other sum which a defendant may be held liable to pay to or for the benefit of a claimant. Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 …
108Delivery versus payment — A transaction in which the buyer s payment for securities is due at the time of delivery (usually to a bank acting as agent for the buyer) upon receipt of the securities. The payment may be made by bank wire, check, or direct credit to an account …
109Individual Learning Account — The Individual Learning Accounts scheme was announced in the 1997 Labour Party manifesto [cite web|url=http://www.psr.keele.ac.uk/area/uk/man/lab97.htm|title=new Labour because Britain deserves better|date=1996|publisher=Keele University… …
110charge account — credit account An account held by a customer at a retail shop that allows payment of any goods purchased at the end of a stated period (usually one month). Interest will be charged on any amounts unpaid after this period. The customer is… …
