FinanceAdvisor

In the United States transactions deposit is a term used by the Federal Reserve for checkable deposits and other accounts that can be used directly as cash without withdrawal limits or restrictions. They are the only bank deposits that require the bank to keep reserves at the central bank. “Time deposits” can also be called “transaction deposits”. continued…

Banks are defined as a business organisation that performs services in relation to money. Specifically is the process of keeping money for customers and paying it out on demand, in the form of deposits, borrowings and exchanges. continued…

The notion of “trading room” (sometimes used as a synonym of “trading floor”, see below) is widely used in financial markets to refer to the office space where market activities are concentrated in investment banks or brokerage houses. Financial trading rooms often consists of open-space large offices where financial workers continued…

A time deposit (also known as a term deposit, particularly in Canada, Australia and New Zealand) is a money deposit at a banking institution that cannot be withdrawn for a certain “term” or period of time. continued…

Tier 2 capital is a measure of a bank’s financial strength with regard to the second most reliable form of financial capital, from a regulator’s point of view. The forms of banking capital were largely standardised in the Basel I accord, issued by the Basel Committee on Banking Supervision and left untouched by the Basel II accord. continued…

Tier 1 capital is the core measure of a bank’s financial strength from a regulator’s point of view. It consists of the types of financial capital considered the most reliable and liquid, primarily Shareholders’ equity. Examples of Tier 1 capital are common stock, preferred stock that is irredeemable and non-cumulative, and retained earnings. continued…

A Teller Assist Unit (TAU) is a device that is used in retail banking for the disbursement of money at a Bank teller wicket or a centralized area. Cash supplies are held in a vault. Disbursements and acceptance of money take place by means of inputting information through a separate computer to the cash dispensing mechanism inside the vault, which is similar in construction to a automatic teller machine vault. continued…

Telephone banking is a service provided by a financial institution which allows its customers to perform transactions over the telephone.

Most telephone banking use an interactive voice response (IVR). continued…

In the UK, the Tax-Exempt Special Savings Account (TESSA) was a special tax-free bank account. The TESSA was announced by John Major in his only Budget as Chancellor of the Exchequer in 1990 (a budget for savings). The TESSA was intended to be a low-risk complement to the personal equity plan (PEP) which would be attractive to a wider range of savers. continued…

A sweep account is an account set up at a bank or other financial institution where the funds are automatically managed between a primary cash account and secondary investment accounts. continued…