How long does it take after depositing money to withdraw it from the account?

Although the computer age and technological advances have increased the response speed of certain processes, paradoxically, some commercial transactions, especially banking, seem to be carried out manually because they are carried out in an excessively long waiting time. In this sense, it is almost normal for banking institutions to inform you that the money traded … Read more

What can void a promissory note?

As long as a promissory note is valid, the borrower is responsible for repaying the loan as agreed. However, there are certain provisions that can cause the promissory note to void and prevent it. It is important as a lender to follow the necessary policies and procedures to ensure that the promissory note is, in … Read more

What are CVV2 and CVC2 numbers?

cvv-number

CVV2/CVC2/CID is a security feature for transactions where your credit card is not physically present. It is a three or four digit value which provides our payment system with a check of your credit card’s authenticity. The terms are generally used interchangeably. CVV2 stands for “Card Verification Value 2”, CVC2 stands for “Card Validation Code … Read more

What does MM YY Mean

mm-yyyy-mean-on-a-credit-card

What is MM/YY The abbreviation MM / YY corresponds to the expiration date of the credit or debit card with which you are going to make the payment of your order; You will find it on the front of the card after the inscription “Valid until”. The term ” MM ” means the two-digit representation … Read more

What does payable on demand mean?

The term “payable on demand” is typically associated with promissory notes. This term means that a debt must be paid by the person who owes it, to the person to whom it is owed, when requested. Obligations payable on demand can be used with any type of debt that does not have a defined due … Read more

Mortgage Moratorium – What is it, definition and concept

A mortgage moratorium is an offer by the bank to a customer to defer mortgage payments for a specified period of time. The moratorium is always subject to a series of circumstances that affect the client’s ability to pay. A mortgage moratorium is an offer a bank makes to a customer, in which he is … Read more

How long is bankruptcy?

One of the big questions employers often ask when filing for bankruptcy is how long or how long. The process can be tedious and impertinent, especially for those who expect to collect something from it. For this reason, we are going to clear up the doubt about how long this time can be, so you … Read more

Difference between leasing and renting

leasing-and-renting

We are going to see the difference between leasing and renting, which are two similar financing options that are increasingly frequent but that have some differences. Firstly, both consist of the long-term rental of an asset, which is usually a vehicle, a building, or technological equipment. Both leasing and renting are only offered for new … Read more

Difference between debit and credit card

Difference between debit and credit card

The main difference between debit and credit cards is based on the fact that the former are always associated with the balance that the client has in the current account, while credit cards allow them to operate with money loaned by the financial institution. When money is withdrawn from an ATM with a debit card … Read more

How to apply for a Chase credit card

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If you are applying for your first credit card or are comparing one of them with others to find the best interest rate. You should first familiarize yourself with the major credit providers in the United States. Among them is JP Morgan & Chase, more commonly known as Chase, which provides banking and credit card … Read more

How to make a payment to an Amazon credit card

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Amazon offers six consumer credit cards, as of December 2010. The various cards offer incentives like airline miles, cash rewards, and credit on Amazon.com. Most credit cards are managed by Chase Bank, and most work like a regular credit card, allowing it to be used anywhere Visa credit cards are accepted. A card, the Amazon … Read more

Venal Value – Definition, what it is and concept

venal-value

The venal value of a product is the estimate for the price of a good at a given time and taking into account its valuation in the second-hand market. In practice, it is generally understood that the venal value is identified with the value attainable in the market for a good sold in the second-hand … Read more

Dependency theory – Definition, what it is and concept

The dependency theory is a theory that denies the benefits of international trade proposed by the classical school and explains underdevelopment through the subordination or subjugation that occurs to developed countries. Undoubtedly, this theory tries to find a theoretical answer to why there was an economic stagnation in Latin American countries in the twentieth century. … Read more

Cash pooling, Centralized cash management

The cash pool (or cash pooling) it is a centralized cash management strategy that pursues the objective of balance the accounts of the subsidiaries of a group. Its ultimate goal is to optimize the condition and management of the treasury by overcoming the imperfections of financial markets with lower financial costs. In the case of … Read more

5 tips to create your credit history in Canada

When you decide to live in Canada you need to have a good credit history if you plan to rent or buy a house, buy a car or even to borrow. When you start building your history it is important to keep your financial affairs in order, so that you can establish yourself in a … Read more

Base salary – Definition, what it is and concept

base-salary

The base salary is the amount of money set by agreement between parties that a person earns as a result of their work done during a certain period of time. In other words, the base salary is the fixed and principal amount of a salary. Thus, it is usually the most important part of the … Read more

Nominal salary – Definition, what it is and concept

nominal-salary

The nominal salary is the amount of money received by an employee, which appears on the payroll, as a result of the work done during a certain period of time. The nominal salary is simply that, the amount agreed to pay for the services provided. So, if the salary for the services you provide is … Read more

Real salary – Definition, what it is and concept

real-salary

The real salary is one that reflects the amount of goods and services that can be acquired with a certain nominal salary. In economic terminology, there are two terms to refer to the salary a person receives. This is nominal salary and real salary. The nominal salary is the amount of money allocated, it is … Read more

SEPA Transfer – Definition, what it is and concept

A SEPA transfer consists of sending a certain amount of money so that the payer and recipient of said payment are within the territory defined as SEPA zone. The methodology of any transfer SEPA it’s based on Bank transactions within the Eurozone. In addition, there are additional countries participating in that monetary framework and operating … Read more

Cost scandal – Definition, what it is and concept

A cost scandal is a measure of the economic performance of a particular product. It allows to establish sales prices appropriate to the production costs and that maximize benefits for each unit sold. Through a cost scandal every company has the possibility of calculating the cost of a good or service it offers, taking into … Read more

Cashback – Definition, what it is and concept

Cashback allows customers of a Bank they can request money, and withdraw it in some stores when they make a purchase. This way of withdrawing money allows users not to have to go through an ATM to get it. There are establishments that establish agreements with entities that make this way of getting cash available … Read more

Bazaar – Definition, what it is and concept

A bazaar is a market where a multitude of products are for sale and it is common to find it in Eastern and Arab cities. The bazaars have become true economic outbreaks in these countries. There are permanent bazaars, and others that agglutinate in a timely manner at a certain point in the city enabled … Read more

Hypermarket – Definition, what it is and concept

A hypermarket is a self-service establishment where retail products are sold, and whose surface area exceeds 2500 square meters. In this type of establishments, consumers can choose the products they want, and include them in their shopping carts. At the end, there is a cashier service where they can pay for the purchase that has … Read more

Cheaper – Definition, what it is and concept

Cheating is to reduce, or lower the price of something in particular. This term serves to indicate that some product, or service has been lowered in order to increase its sales in most cases. That prices are lowered has a lot to do with human behavior. If products are purchased from a certain company that … Read more