Find definitions of banking terms used on this site.

A bank custodian has physical possession of its clients’ financial assets. These could include cash, stock certificates, bonds, and other financial instruments.

Overdraft protection is an agreement with the bank or financial institution to cover overdrafts on a checking account.

When you apply for a mortgage loan, generally, as part of the loan underwriting process, the bank will order an appraisal or an evaluation to determine the value of the property that is being …

A garnishment allows a creditor to remove funds from your bank account to pay off your debt. This may happen when a creditor sues to collect a debt you owe, wins a court judgment against …

A Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) account is an account into which property is set aside for a minor's benefit.

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Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking …

A bank compares the value from the appraisal or evaluation to the requested loan amount to determine whether the value of a property securing a loan provides adequate collateral …

What is check washing? Check washing is a form of check fraud. It involves the use of chemicals, such as bleach or acetone, by a thief to “wash” a check or money order stolen from the mail to …