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Financial Terms

Electronic Clearing Service (ECS)

This system allows for the automatic transfer of funds from one bank account to another.

Understanding the intricacies of financial transactions is crucial in the world of finance. One such method is the Electronic Clearing Service (ECS), utilized by banks, corporations, and financial institutions for seamless payment transfers. This automated system eliminates the need for manual intervention and enables swift and secure fund transfers between two bank accounts. Let's delve deeper into the workings of ECS and its significance in the financial landscape.

Balance of Payment

International transactions refer to the exchange of goods, services, and gold between countries. These transactions are recorded and analyzed to determine the economic perfo...

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Interest

When a lender lends money to a borrower, they earn a return on that money in the form of interest. This interest is typically expressed as an annual percentage rate (APR) an...

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Ex-dividend Date

The record date is the date when the company checks its records to determine which shareholders are eligible to receive the dividend. Understanding key financial terms is cr...

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Financial Planning

It involves setting financial goals, assessing assets and liabilities, evaluating risk tolerance, and developing strategies to reach those goals. This process requires a deep...

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