What is banking sector in simple words?

What is banking sector in simple words? A bank is a financial institution licensed to receive deposits and make loans. Banks may also provide financial services such as wealth management, currency exchange, and safe deposit boxes. There are several different kinds of banks including retail banks, commercial or corporate banks, and investment banks. How does […]

How do I withdraw money from a teller?

How do I withdraw money from a teller? Upon arrival at the bank, ask the teller to perform a Cash Advance or Cash Disbursement. You will need to tell the tell the amount of cash your are requesting. If you want to cash out the card, this is the full balance amount on your card. […]

Is bank draft and demand draft same?

Is bank draft and demand draft same? A demand draft is issued by a bank while a check is issued by an individual. Also, a demand draft is drawn by an employee of a bank while a check is drawn by a customer of a bank. Payment of a demand draft may not be stopped […]

What is EIBOR 3month?

What is EIBOR 3month? What is the meaning of 3 Month EIBOR? The 3 month EIBOR stands for the interest rate at which a panel of selected banks borrow funds from one another with a maturity of three months. What is the EIBOR rate? Emirates Interbank Offered Rate (EIBOR): Fixing: CBUAE: Overnight data was reported […]

What does authorized overdraft mean?

What does authorized overdraft mean? With basic overdraft protection, your financial institution lends you enough money to cover the transaction, up to an approved limit. Your bank account balance will show as a negative amount. You pay interest on the overdrawn amount. This would overdraw your account by $50. Your account balance will be -$50. […]

How do you change ownership of a car lease?

How do you change ownership of a car lease? Read on for an overview of how to go about transferring the lease for your car to someone else. Determine Whether You’re Allowed to Transfer the Lease. Locate Someone Who Will Take on the Lease. Have the New Lease Holder Complete a Credit Application. Complete the […]