Sweep Accounts: Types and How They Work A sweep account is a type of banking service that automatically transfers funds from one account to another to optimize the use of available funds. It is commonly used by individuals and businesses to manage their cash flow efficiently and maximize interest earnings. … …
Negotiable Order of Withdrawal Account: An Overview A Negotiable Order of Withdrawal (NOW) account is a type of savings account that allows the account holder to write checks against the balance. It combines the features of a traditional savings account and a checking account, providing the convenience of check-writing with … …
What is a Linked Savings Account? A linked savings account is a type of bank account that is connected to another financial product, such as a checking account or a credit card. This connection allows for easy transfer of funds between the linked accounts, providing convenience and flexibility for the … …
What is Annual Equivalent Rate (AER)? The Annual Equivalent Rate (AER) is a financial term used to calculate the interest rate on savings accounts. It is a standardized way of comparing different savings products and helps consumers make informed decisions about where to invest their money. The AER takes into … …
All You Need to Know About Joints Types of Joints There are three main types of joints in the human body: Synovial Joints: These are the most common type of joints and allow for a wide range of movement. Examples include the knee, elbow, and shoulder joints. Cartilaginous Joints: These … …