Glossary Index | Categories | Tagged Terms

Terms with Tag Banking

Debit -

Earl Grey Credit Union -

Diamond North Credit Union — Company, Saskatchewan, Canada,
➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
Direct Cheque Printers — Definition,
- These operations offer lower prices and greater selection than chequing customers get through their banks. Many of these printers are also printing cheques for banks that use outside printers. Customers must supply most direct cheque companies with a voided cheque or a reorder form from a current batch of cheques and a deposit slip. Names and addresses must match with information on file at the account holder's bank.
Direct Debit (DD) — Acronym, Important,
- A means of authorizing recurring payments (e.g., mortgage payments, insurance premiums) to be drawn on an account.
Direct Debit Authorization (DDA) — Acronym,
Direct Debit Instruction (DDI) — Acronym,
Direct Debit Option (DDO) — Acronym,
Direct Debit Request (DDR) — Acronym,
Direct Deposit (DD) — Acronym, Important,
- An automatic deposit of wages or benefits to a customer's bank account.
Direct Deposit Processing (DDP) — Acronym,
Direct Deposit Refund (DDR) — Acronym,
Direct Deposit System (DDS) — Acronym,
Direct Deposit/Pre-authorized Debit (DD) — Acronym,
➥ Bank account transaction code.
Direct Financing — Definition,
- When a buyer obtains financing through an outside financial institution rather than through the dealer.
Direct Fund Transfer — Definition,
- Similar to a direct deposit.
Direct Tax — Definition,
- A tax that is paid straight to the government.
Disclosure — Definition,
- A statement listing potential defects to a property, such as the possible existence of lead paint or radon.
- A statement required by most provinces that requires the creditor to tell the debtor the annual percentage rate, finance charges and other terms of a loan.
Disinflation — Definition,
- A reduction in the inflation rate as a result of either government policy or a decline in economic activity.
Distress — Definition,
- The right of one party to sell real or personal property belonging to another party to pay unpaid or overdue debt.
Distressed Property — Definition,
- Property that is in poor condition, or whose owner is in poor financial condition.
Dividend — Definition,
- Distribution of earnings to shareholders. In credit unions, it's the money paid to members for deposits, similar to the interest banks pay to their customers for deposits.
Documentary Credit — Definition,
- Written undertaking by a bank on behalf of an importer authorizing an exporter to draw drafts on the bank up to a specified amount under specific terms and conditions. They are used to facilitate international trade. In the United States these instruments are called commercial letters of credit.
Down Payment — Definition,
- The portion of the purchase price a buyer pays, in cash, at the time the loan originates.
Draw Period — Definition,
- On a line of credit, the draw period is the fixed time when a borrower can make withdrawals from the account. After the draw period expires, the borrower can renew the credit line or may be required to pay the outstanding balance in full, or over time.
Drawn Against Insufficient Funds (DAIF) — Acronym,
Duca Financial Services Credit Union — Company, Ontario, Canada,
➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
Due-on-sale Clause — Definition,
- A condition of a mortgage that states that the loan must be paid when the house is sold. Commonly used in reverse mortgage lending.
Dundee Bank of Canada (DBC) — Company, Canada,
➥ Acquired by Scotiabank in 2012.
Dunnville and District Credit Union (DDCU) — Company Est. 1945, Dunnville, Ontario, Canada,
➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
Durham Educational Employees' Credit Union (DEECU) — Company Est. 1967, Whitby, Ontario, Canada,
E-cheque — Definition,
- An electronic version of a paper cheque. The account holder writes an e-cheque using a computer or other type of electronic device and transmits the e-cheque to the payee electronically. Like paper cheques, e-cheques are signed by the payer and endorsed by the payee. Rather than handwritten or machine-stamped signatures, however, e-cheques are affixed with digital signatures, using a combination of smart cards and digital certificates. The payee deposits the e-cheque, receives credit, and the payee's bank clears the e-cheque to the paying bank. The paying bank validates the e-cheque and then charges the cheque writer's account.