Parking

Definition

• A term that refers to depositing, or "parking" cash in a high-yield money market account until you need to move it to a chequing account to pay bills.

Synonyms
invest, saving, cash

Acronyms
prk

Related Terms and Acronyms

• Bill Presentment — Definition,
  • An online system that allows customers to receive and view the bill on a computer, and then pay the bill electronically. Users can pay their bills immediately and the money is transferred from the account.
• Current Yield — Definition,
  • The annual increase in the value of an investment, usually expressed as a percentage.
• Escrow Account (EA) — Acronym,
  • An account in which money for property taxes and insurance is held until paid; money is added to the account every time a mortgage payment is made.
• Interest (IN, int) — Acronym & Abbreviation,
  • Money paid for the use of borrowed funds, usually expressed as an annual percentage.
  ➥ Bank account transaction code.
• Investment — Definition,
  • Something you put your money into in order to make money.
• Liquid Assets — Definition,
  • Cash and other property that can be converted quickly and easily into cash.
• Money Market Account (MMA) — Acronym,
  • A bank account that restricts the type and number of withdrawals. The account also earns interest similar to money market funds.
• Money Market Fund (MMF) — Acronym, Important,
  • Mutual funds that invest in short-term debts or securities.
• Money Market Mutual Fund (MMMF) — Acronym,
  • A mutual fund that invests in short-term debt instruments such as Treasury bills, commercial paper, and large CDs. Also referred to as money market fund (MMF).
• Mutual Fund — Definition,
  • A type of investment scheme that pools funds from multiple backers and invests them in securities such as stock or bonds.