Entities
What is a business owned by a single individual?
What is a sole proprietorship.
Who is an individual listed on a business account that has access to view, deposit, and withdraw but does not have authority to make changes to the account?
What is a signer.
What is a lending product that allows a business to borrow, pay back, and borrow again?
What is a business line of credit.
What is the interest paid by banks on non-interest-yielding deposits and is used to credit business clients for fees for services provided to them.
What is the ECR (Earnings Credit Rate).
What is a business owned by two or more persons with specific division of responsibilities and profits?
What is a partnership.
What does DBA stand for?
What is Doing Business As.
This general terms refers to the ability for a business to accept credit card payments.
What is merchant services.
What is the ECR tied to?
What is an entity owned by individual stockholders, each with limited liability for the entity's debts?
What is a corporation.
Can you cash a check made payable to a business name?
What is no - you can deposit the check into an account with the same name.
This service saves time for businesses and increases office productivity by reducing trips to the bank to exchange currency.
What is a Courier Service.
This provides a summary of all account balances, services used, applicable fees, and any earnings credits to offset applicable fees.
What is an Account Analysis Statement or Consolidated Analysis Statement.
What is a business that does not operate for the purpose of generating revenue?
What is a non-for-profit corporation.
What is an owner of an LLC called?
What is a Member.
What allows businesses to electronically transfer of funds from one institution to another domestically or internationally.
What is a Wire Transfer.
What enables businesses to disburse or collect payments on behalf of employees, vendors, merchants and customers?
What is ACH or Automated Clearing House.
What is an entity that offers the personal liability protection of a corporation with the pass-through taxation of a sole proprietorship or partnership?
What is an LLC (Limited Liability Company).
What is an owner of a corporation called.
What is a shareholder or a stockholder.
What is a product that allows a business to borrow funds and pay back, in equal installments, over time.
What is a business loan.
What regulation forbid the payment of interest to businesses?
What is regulation Q.