Classification And Disposition Of Bank Accounts

November 12th, 2015 Posted in News

The current bank accounts are those that involve a contract between a lender and the customer enter into a common commercial relationship in which both parties agree to make clear the movements and transactions made between the two to be settled transactions on a given date. Holders entering certain funds to bank accounts to bank management flows, and may withdraw at any time without giving prior notice to the entity for the transaction. In these operations, the bank may also advance money in a credit transaction that the customer is obligated to repay with interest. The bank accounts can be divided into different classes, using criteria different taxonomies. First, it can be defined as owners and what kind they are. Thus, may hold an individual, in which one person has the account in your name, they are also jointly held accounts, in which two or more persons responsible so that any transaction must be approved by both, in which case it requires the signature of those responsible may also be cases in which ownership interchangeably, as in joint ownership is shared between two or more persons but operations the can make any person who is authorized to make transactions with the account.

Another type of classification is according to current bank accounts how to earn interest. There are bank accounts that have no current interest, so do not make any payment to the holder for the amounts deposited in the account. The settlement comes just from the difference between the debits and credits. In current accounts with interest, the funds produced an additional amount from the date on which trading takes place and when the account is settled. In this type of current bank accounts, there are mutual interests rate, which applies the same interest rate as the capital of both creditor and the type of borrowing rate.

Interest nonreciprocal are those that differ whether capital capital debtors creditors. The liquidation of these accounts not only arises from the difference between debit and credit but also the difference of interest. As for the settlement of current bank accounts, you can proceed in three different ways, depending on the type of settlement that makes the financial institution. When you know the capital and the interest rate that is fixed in advance, just find the time period in which there will be interest to know how much will the total. With the direct method, the creditor and debtor capital bears interest ranging from day period expires until the account is settled. The indirect method calculates interest from the day they are generated to a point determined artificially. As there is a gap between this and the actual settlement date, accruals should be rectified as soon as the settlement date is known. There is also a method called Hamburg or balances, which calculates interest from the different stocks that appear on the account and not from capital.


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