Financial Glossary

3D Secure is an online card payment authentication protocol used to reduce fraud. It adds an extra v...

An account number is a unique identifier assigned by a bank to each account holder. It's used in con...

Account title is the official name on a bank account. It identifies the account holder(s) for deposi...

Accounts payable represents money a business owes to suppliers for goods or services received. It is...

Accounts receivable is money owed to a business by its customers for goods or services delivered on ...

Accrual basis accounting recognizes revenue when it is earned and expenses when they are incurred, r...

Accrued interest is interest that has been earned or incurred but not yet paid. It accumulates betwe...

Automated Clearing House

ACH is an electronic network for financial transactions in the United States. It processes large vol...

United Arab Emirates Dirham

AED is the official currency of the United Arab Emirates. It has been pegged to the US dollar since ...

Annual Equivalent Rate

AER is the standardized annual interest rate that shows what a return or cost would be over one full...

Afghan Afghani

AFN is the official currency of Afghanistan. It is issued by Da Afghanistan Bank, the country's cent...

Albanian Lek

ALL is the official currency of Albania. It is issued by the Bank of Albania and is subdivided into ...

Armenian Dram

AMD is the official currency of Armenia. It is issued by the Central Bank of Armenia and was introdu...

Anti-Money Laundering

AML refers to the laws, regulations, and procedures designed to prevent criminals from disguising il...

Amortization is the process of paying off debt through regular payments over time. Each payment cove...

Netherlands Antillean Guilder

ANG was the official currency of Curaçao and Sint Maarten until March 2025, when it was replaced by ...

Australia and New Zealand

ANZ is a regional designation for Australia and New Zealand. It is commonly used to group operations...

Angolan Kwanza

AOA is the official currency of Angola. It is issued by the National Bank of Angola and is subdivide...

Asia-Pacific

APAC is a regional designation referring to the Asia-Pacific region, commonly used in business and b...

Application Programming Interface

An API is a set of protocols and tools that allows different software applications to communicate wi...

Annual Percentage Rate

APR is the annual rate charged for borrowing or earned through investment, expressed as a percentage...

Australian Prudential Regulation Authority

APRA is Australia's prudential regulator for banks, insurers, and superannuation funds. It focuses o...

Annual Percentage Yield

APY is the effective annual rate of return taking into account the effect of compounding interest. I...

Argentine Peso

ARS is the official currency of Argentina. It is issued by the Central Bank of Argentina (Banco Cent...

Association of Southeast Asian Nations

ASEAN is a regional organization of Southeast Asian countries that promotes economic and financial i...

Australian Securities and Investments Commission

ASIC is Australia's regulator for financial markets, financial services firms, and corporate conduct...

Australian Dollar

AUD is the official currency of Australia and its territories. It's the fifth most traded currency i...

An auto loan is a loan used to purchase a vehicle, with the vehicle serving as collateral. The borro...

Available balance is the amount of money in an account that can be immediately withdrawn or used for...

Aruban Florin

AWG is the official currency of Aruba. It is issued by the Centrale Bank van Aruba and is subdivided...

Azerbaijani Manat

AZN is the official currency of Azerbaijan. It is issued by the Central Bank of Azerbaijan and is su...

Bankers' Automated Clearing Services

BACS is a UK-based system for processing electronic payments including Direct Debits and Direct Cred...

Federal Financial Supervisory Authority

BaFin is Germany's integrated financial regulator covering banking, insurance, and securities market...

A balance is the amount of money in a bank account at any given time. Banks typically report both th...

A balance sheet is a financial statement that reports a company's assets, liabilities, and sharehold...

A balloon payment is a large lump-sum payment due at the end of a loan term. It is used when earlier...

Bosnia and Herzegovina Convertible Mark

BAM is the official currency of Bosnia and Herzegovina. It was established by the 1995 Dayton Agreem...

Banco de Cabo Verde is Cape Verde's central bank. It sets monetary policy, issues the CVE, and suppo...

Banco de Moçambique is Mozambique's central bank. It sets monetary policy, issues the MZN, and suppo...

Bangko Sentral ng Pilipinas is the central bank of the Philippines. It sets monetary policy, issues ...

Bangladesh Bank is Bangladesh's central bank. It sets monetary policy, issues the BDT, and supports ...

Bank Al-Maghrib is Morocco's central bank. It sets monetary policy, issues the MAD, and supports fin...

Bank Indonesia is Indonesia's central bank. It sets monetary policy, issues the IDR, and supports fi...

Bank of Albania is Albania's central bank. It sets monetary policy, issues the ALL, and supports fin...

Bank of Algeria is Algeria's central bank. It sets monetary policy, issues the DZD, and supports fin...

Bank of Botswana is Botswana's central bank. It sets monetary policy, issues the BWP, and supports f...

The Bank of Canada is Canada's central bank. It conducts monetary policy, issues the Canadian dollar...

The Bank of England is the central bank of the United Kingdom. It sets monetary policy, issues curre...

Bank of Eritrea is Eritrea's central bank. It sets monetary policy, issues the ERN, and supports fin...

Bank of Ghana is Ghana's central bank. It sets monetary policy, issues the GHS, and supports financi...

Bank of Guatemala is Guatemala's central bank. It sets monetary policy, issues the GTQ, and supports...

Bank of Guyana is Guyana's central bank. It sets monetary policy, issues the GYD, and supports finan...

Bank of Israel is Israel's central bank. It sets monetary policy, issues the ILS, and supports finan...

The Bank of Japan is Japan's central bank. It sets monetary policy, issues the yen, and supports fin...

The Bank of Korea is South Korea's central bank. It sets monetary policy, issues the won, and suppor...

Bank of Mauritius is the central bank of Mauritius. It sets monetary policy, issues the MUR, and sup...

The Bank of Mexico (Banxico) is Mexico's central bank. It conducts monetary policy, issues the Mexic...

Bank of Mongolia is Mongolia's central bank. It sets monetary policy, issues the MNT, and supports f...

Bank of Namibia is Namibia's central bank. It sets monetary policy, issues the NAD, and supports fin...

Bank of Papua New Guinea is Papua New Guinea's central bank. It sets monetary policy, issues the PGK...

The Bank of Russia is the central bank of the Russian Federation. It conducts monetary policy, issue...

Bank of Sierra Leone is Sierra Leone's central bank. It sets monetary policy, issues the SLE, and su...

Bank of South Sudan is South Sudan's central bank. It sets monetary policy, issues the SSP, and supp...

Bank of Tanzania is Tanzania's central bank. It sets monetary policy, issues the TZS, and supports f...

Bank of the Lao PDR is the central bank of Laos. It sets monetary policy, issues the LAK, and suppor...

Bank of the Republic of Burundi is Burundi's central bank. It sets monetary policy, issues the BIF, ...

Bank of the Republic of Haiti is Haiti's central bank. It sets monetary policy, issues the HTG, and ...

Bank of Uganda is Uganda's central bank. It sets monetary policy, issues the UGX, and supports finan...

Bank of Zambia is Zambia's central bank. It sets monetary policy, issues the ZMW, and supports finan...

A bank statement is a document issued by a financial institution that summarizes all transactions in...

A bank statement converter is a tool that transforms bank statement files, often PDF files, into str...

Banky Foiben'i Madagasikara is Madagascar's central bank. It sets monetary policy, issues the MGA, a...

Banque du Liban is Lebanon's central bank. It sets monetary policy, issues the LBP, and supports fin...

Basel III is an international regulatory framework for banks that strengthens capital, liquidity, an...

Batch processing is a method of processing transactions in groups rather than individually (as in RT...

Basic Bank Account Number

A BBAN is a country-specific account identifier used for domestic bank transfers. It forms the core ...

Barbadian Dollar

BBD is the official currency of Barbados. It is issued by the Central Bank of Barbados and is subdiv...

Bangladeshi Taka

BDT is the official currency of Bangladesh. It is issued by Bangladesh Bank and is subdivided into 1...

Bulk Electronic Clearing System

BECS is Australia's bulk clearing system for low-value electronic payments such as direct entry cred...

A beneficiary is a person or entity designated to receive funds, property, or other benefits from a ...

A beneficiary bank is the financial institution that receives a payment for the recipient. It credit...

Benelux is a regional grouping of Belgium, the Netherlands, and Luxembourg. It is commonly used in E...

Bermuda Monetary Authority is the monetary authority for Bermuda. It issues the BMD and supports cur...

Bulgarian Lev

BGN is the official currency of Bulgaria. It is issued by the Bulgarian National Bank and is subdivi...

Bahraini Dinar

BHD is the official currency of Bahrain. It is issued by the Central Bank of Bahrain and is one of t...

Bank Identifier Code

A BIC is an 8 or 11-character code that uniquely identifies a bank for international transactions. I...

Burundian Franc

BIF is the official currency of Burundi. It is issued by the Bank of the Republic of Burundi and is ...

Biometric authentication uses unique physical or behavioral traits to verify identity. Common method...

Blockchain is a distributed ledger technology that records transactions in linked blocks across a ne...

Bermudian Dollar

BMD is the official currency of Bermuda. It is issued by the Bermuda Monetary Authority and is subdi...

Brunei Dollar

BND is the official currency of Brunei. It is issued by the Brunei Darussalam Central Bank and is su...

Buy Now, Pay Later

BNPL is a payment option that splits a purchase into installment payments over time. Customers typic...

Bolivian Boliviano

BOB is the official currency of Bolivia. It is issued by the Central Bank of Bolivia (Banco Central ...

Brazilian Real

BRL is the official currency of Brazil. It was introduced in 1994 as part of a plan to stabilize the...

Brunei Darussalam Central Bank is Brunei's central bank. It sets monetary policy, issues the BND, an...

Bank Secrecy Act

The BSA is a US law requiring financial institutions to assist government agencies in detecting and ...

Bank State Branch

A BSB is a 6-digit code used in Australia to identify individual bank branches for domestic EFT tran...

Bahamian Dollar

BSD is the official currency of The Bahamas. It has been in circulation since 1966 and is issued by ...

Bitcoin

BTC is the ticker symbol for Bitcoin, the first and largest cryptocurrency by market capitalization,...

Bhutanese Ngultrum

BTN is the official currency of Bhutan. It is issued by the Royal Monetary Authority of Bhutan and i...

Bulgarian National Bank is Bulgaria's central bank. It sets monetary policy, issues the BGN, and sup...

Botswana Pula

BWP is the official currency of Botswana. It is issued by the Bank of Botswana and is subdivided int...

Belarusian Ruble

BYN is the official currency of Belarus. It is issued by the National Bank of the Republic of Belaru...

Belize Dollar

BZD is the official currency of Belize. It is issued by the Central Bank of Belize and is subdivided...

Canadian Dollar

CAD is the official currency of Canada. It's the fifth most held reserve currency in the world and i...

Capital Expenditures

CapEx is spending on long-term assets such as equipment, buildings, or technology. These costs are c...

Card-on-file refers to storing a customer's card details with a merchant or payment provider for fut...

A cash flow statement reports cash inflows and outflows from operating, investing, and financing act...

A cashier's check is a check guaranteed by a bank, drawn from the bank's own funds rather than a per...

Cayman Islands Monetary Authority is the monetary authority for the Cayman Islands. It issues the KY...

Central Bank Digital Currency

A CBDC is a digital form of fiat currency issued by a central bank. It represents a direct claim on ...

Clave Bancaria Uniforme

CBU is Argentina's standardized bank account identifier used for domestic transfers. It is a 22-digi...

Codigo de Cuenta Interbancaria

CCI is Peru's interbank account code used to route transfers between banks. It is a standardized ide...

Certificate of Deposit

A CD is a savings product that holds a fixed amount of money for a fixed period of time (term) and p...

Customer Due Diligence

CDD is the process of identifying customers and assessing the risk of their financial activity. It i...

Congolese Franc

CDF is the official currency of the Democratic Republic of the Congo. It is issued by the Central Ba...

Central and Eastern Europe

CEE is a regional designation covering countries in Central and Eastern Europe. It is commonly used ...

A central bank is a country's monetary authority responsible for issuing currency, setting monetary ...

Central Bank of Argentina is Argentina's central bank. It sets monetary policy, issues the ARS, and ...

Central Bank of Armenia is Armenia's central bank. It sets monetary policy, issues the AMD, and supp...

Central Bank of Azerbaijan is Azerbaijan's central bank. It sets monetary policy, issues the AZN, an...

Central Bank of Bahrain is Bahrain's central bank. It sets monetary policy, issues the BHD, and supp...

Central Bank of Barbados is the central bank of Barbados. It sets monetary policy, issues the BBD, a...

Central Bank of Belize is Belize's central bank. It sets monetary policy, issues the BZD, and suppor...

Central Bank of Bolivia is Bolivia's central bank. It sets monetary policy, issues the BOB, and supp...

Central Bank of Bosnia and Herzegovina is Bosnia and Herzegovina's central bank. It sets monetary po...

The Central Bank of Brazil (Banco Central do Brasil) is Brazil's central bank. It sets monetary poli...

Central Bank of Colombia is Colombia's central bank. It sets monetary policy, issues the COP, and su...

Central Bank of Costa Rica is Costa Rica's central bank. It sets monetary policy, issues the CRC, an...

Central Bank of Cuba is Cuba's central bank. It sets monetary policy, issues the CUP, and supports f...

Central Bank of Djibouti is Djibouti's central bank. It sets monetary policy, issues the DJF, and su...

Central Bank of Egypt is Egypt's central bank. It sets monetary policy, issues the EGP, and supports...

Central Bank of Eswatini is Eswatini (formerly Swaziland)'s central bank. It sets monetary policy, i...

Central Bank of Honduras is the central bank of Honduras. It sets monetary policy, issues the HNL, a...

Central Bank of Iceland is Iceland's central bank. It sets monetary policy, issues the ISK, and supp...

Central Bank of Iraq is Iraq's central bank. It sets monetary policy, issues the IQD, and supports f...

Central Bank of Jordan is Jordan's central bank. It sets monetary policy, issues the JOD, and suppor...

Central Bank of Kenya is Kenya's central bank. It sets monetary policy, issues the KES, and supports...

Central Bank of Kuwait is Kuwait's central bank. It sets monetary policy, issues the KWD, and suppor...

Central Bank of Lesotho is Lesotho's central bank. It sets monetary policy, issues the LSL, and supp...

Central Bank of Liberia is Liberia's central bank. It sets monetary policy, issues the LRD, and supp...

Central Bank of Libya is Libya's central bank. It sets monetary policy, issues the LYD, and supports...

Central Bank of Mauritania is Mauritania's central bank. It sets monetary policy, issues the MRU, an...

Central Bank of Myanmar is Myanmar's central bank. It sets monetary policy, issues the MMK, and supp...

Central Bank of Nicaragua is Nicaragua's central bank. It sets monetary policy, issues the NIO, and ...

Central Bank of Nigeria is Nigeria's central bank. It sets monetary policy, issues the NGN, and supp...

Central Bank of Oman is Oman's central bank. It sets monetary policy, issues the OMR, and supports f...

Central Bank of Paraguay is Paraguay's central bank. It sets monetary policy, issues the PYG, and su...

Central Bank of Samoa is Samoa's central bank. It sets monetary policy, issues the WST, and supports...

Central Bank of São Tomé and Príncipe is São Tomé and Príncipe's central bank. It sets monetary poli...

Central Bank of Seychelles is the central bank of Seychelles. It sets monetary policy, issues the SC...

Central Bank of Solomon Islands is the central bank of the Solomon Islands. It sets monetary policy,...

Central Bank of Somalia is Somalia's central bank. It sets monetary policy, issues the SOS, and supp...

Central Bank of Sri Lanka is Sri Lanka's central bank. It sets monetary policy, issues the LKR, and ...

Central Bank of Sudan is Sudan's central bank. It sets monetary policy, issues the SDG, and supports...

Central Bank of Suriname is Suriname's central bank. It sets monetary policy, issues the SRD, and su...

Central Bank of Syria is Syria's central bank. It sets monetary policy, issues the SYP, and supports...

Central Bank of the Bahamas is the central bank of the Bahamas. It sets monetary policy, issues the ...

Central Bank of the Comoros is the central bank of the Comoros. It sets monetary policy, issues the ...

Central Bank of the Congo is the Democratic Republic of the Congo's central bank. It sets monetary p...

Central Bank of the Democratic People's Republic of Korea is North Korea's central bank. It sets mon...

Central Bank of the Dominican Republic is the Dominican Republic's central bank. It sets monetary po...

Central Bank of The Gambia is the central bank of The Gambia. It sets monetary policy, issues the GM...

Central Bank of the Islamic Republic of Iran is Iran's central bank. It sets monetary policy, issues...

Central Bank of the Republic of China is Taiwan's central bank. It sets monetary policy, issues the ...

Central Bank of the Republic of Guinea is Guinea's central bank. It sets monetary policy, issues the...

Central Bank of the Republic of Turkey is the central bank of Turkey. It sets monetary policy, issue...

Central Bank of the Republic of Uzbekistan is Uzbekistan's central bank. It sets monetary policy, is...

The Central Bank of the UAE is the United Arab Emirates' central bank. It issues the dirham and sets...

Central Bank of Trinidad and Tobago is Trinidad and Tobago's central bank. It sets monetary policy, ...

Central Bank of Tunisia is Tunisia's central bank. It sets monetary policy, issues the TND, and supp...

Central Bank of Turkmenistan is Turkmenistan's central bank. It sets monetary policy, issues the TMT...

Central Bank of Uruguay is Uruguay's central bank. It sets monetary policy, issues the UYU, and supp...

Central Bank of Venezuela is Venezuela's central bank. It sets monetary policy, issues the VES, and ...

Central Bank of Yemen is Yemen's central bank. It sets monetary policy, issues the YER, and supports...

Central Reserve Bank of Peru is Peru's central bank. It sets monetary policy, issues the PEN, and su...

Centrale Bank van Aruba is Aruba's central bank. It sets monetary policy, issues the AWG, and suppor...

A certified check is a personal check that the bank has verified and stamped, confirming that suffic...

Chartered Financial Analyst

A CFA is a professional designation given by the CFA Institute to investment professionals who have ...

Consumer Financial Protection Bureau

The CFPB is a U.S. agency that protects consumers in the financial marketplace. It oversees banks an...

Commodity Futures Trading Commission

CFTC is an independent U.S. federal agency that regulates the derivatives markets, including futures...

Clearing House Automated Payment System

CHAPS is a UK RTGS payment system used for high-value, same-day sterling payments. It's typically us...

A charge-off is when a lender writes off a loan as uncollectible for accounting purposes. It typical...

A check (or cheque in British English) is a written order instructing a bank to pay a specific amoun...

Check Clearing for the 21st Century Act

Check 21 is a U.S. law that allows banks to process checks electronically by creating substitute che...

Check clearing is the process of moving funds from the payer's bank to the payee's bank for a check ...

Check float is the time between when a check is written and when it clears the payer's account. Duri...

Check kiting is a form of fraud that exploits the time it takes for checks to clear. It involves wri...

A check number is a unique sequential number printed on each check to help account holders track and...

A check register is a record of checks written and deposits made for a bank account. It helps accoun...

A checking account is a deposit account held at a financial institution that allows withdrawals and ...

Swiss Franc

CHF is the official currency of Switzerland and Liechtenstein. It's known for its stability and is c...

Clearing House Interbank Payments System

CHIPS is a private sector clearing and settlement system for large-value wire transfers and payments...

Cross-Border Interbank Payment System

CIPS is China's cross-border payment system for renminbi (RMB) transactions. It provides clearing an...

Canadian Investment Regulatory Organization

CIRO is Canada's national self-regulatory organization for investment dealers and mutual fund dealer...

Commonwealth of Independent States

CIS is a regional grouping of several post-Soviet states. It is used in finance to describe markets ...

Clave Bancaria Estandarizada

CLABE is an 18-digit standardized banking code used in Mexico for domestic electronic funds transfer...

A cleared transaction is a payment that has been fully processed and posted to the account. It is fi...

Unidad de Fomento

CLF is the ISO 4217 code for Chile's Unidad de Fomento, an inflation-indexed unit of account. It is ...

Closing balance is the amount of money in an account at the end of a statement period after all post...

Chilean Peso

CLP is the official currency of Chile. It is managed by the Central Bank of Chile (Banco Central de ...

Continuous Linked Settlement

CLS is a global system for settling foreign exchange transactions using payment-versus-payment. It r...

China National Advanced Payment System

CNAPS is China's national interbank payment system for domestic RMB transfers. It includes high-valu...

Chinese Yuan

CNY is the official currency of the People's Republic of China, also known as the renminbi (RMB). It...

A co-signer is a person who signs a loan agreement and shares responsibility for repayment. If the p...

Collateral is an asset that a borrower pledges to a lender as security for a loan. If the borrower d...

Compound interest is interest calculated on both the initial principal and the accumulated interest ...

Contactless payments allow a customer to tap a card or device to a reader for a quick transaction. T...

Colombian Peso

COP is the official currency of Colombia. It is issued by the Central Bank of Colombia (Banco de la ...

A core banking system is the back-end platform that processes deposits, loans, payments, and account...

A correspondent bank provides banking services on behalf of another bank, often in a different count...

A counterfeit check is a fake or altered check created to defraud the payer or bank. It may use forg...

Certified Public Accountant

A CPA is a professional designation for accountants who have passed the Uniform CPA Examination and ...

Costa Rican Colón

CRC is the official currency of Costa Rica. Named after Christopher Columbus (Cristóbal Colón in Spa...

In banking, a credit is a transaction that increases the balance in your account. On your bank state...

A credit limit is the maximum amount a borrower can use on a revolving credit account. It applies to...

A credit score is a numerical rating that represents a person's creditworthiness based on their cred...

Credit utilization is the percentage of available revolving credit that a borrower is using. It is a...

A cross-border payment is a transfer where the payer and payee are in different countries or currenc...

Common Reporting Standard

CRS is a global standard for the automatic exchange of financial account information between tax aut...

Cryptocurrency is a digital or virtual currency that uses cryptography for security and operates on ...

Comma-Separated Values

CSV is a plain-text file format for tabular data, where each row is a record and each column is sepa...

Currency Transaction Report

A CTR is a report filed for large cash transactions that exceed regulatory thresholds. In the United...

Cuban Peso

CUP is the official currency of Cuba, also known as 'moneda nacional'. It is issued by the Central B...

A current account is the UK and Commonwealth term for a checking account - a bank account used for d...

Cape Verdean Escudo

CVE is the official currency of Cape Verde. It is issued by the Banco de Cabo Verde and is subdivide...

Czech National Bank is the Czech Republic's central bank. It sets monetary policy, issues the CZK, a...

Czech Koruna

CZK is the official currency of the Czech Republic, commonly called the Czech crown. It is managed b...

Da Afghanistan Bank is Afghanistan's central bank. It sets monetary policy, issues the AFN, and supp...

Germany, Austria, Switzerland

DACH is a regional grouping for German-speaking countries: Germany (D), Austria (A), and Switzerland...

Danmarks Nationalbank is Denmark's central bank. It issues the Danish krone and conducts monetary po...

In banking, a debit is a transaction that decreases the balance in your account. On your bank statem...

DTI

Debt-to-income ratio compares monthly debt payments to gross monthly income. Lenders use it to evalu...

Default is the failure to meet the terms of a loan agreement, usually by missing payments. It can tr...

Deferred revenue is money received for goods or services that have not yet been delivered. It is rec...

Decentralized Finance

DeFi refers to financial services built on public blockchains using smart contracts. It enables lend...

Delinquency occurs when a borrower fails to make a payment by the due date. It is typically reported...

A deposit hold is a temporary restriction on access to deposited funds. Banks place holds to manage ...

A deposit slip is a form used to list cash and checks being deposited into a bank account. It includ...

Depreciation is the accounting method of allocating the cost of a tangible asset over its useful lif...

A digital wallet is an electronic device, software program, or online service that stores payment in...

Direct debit is an authorized withdrawal from a bank account, typically set up for recurring payment...

Direct deposit is an electronic payment method where funds are deposited directly into a checking ac...

Djiboutian Franc

DJF is the official currency of Djibouti. It is issued by the Central Bank of Djibouti and has no su...

Danish Krone

DKK is the official currency of Denmark, Greenland, and the Faroe Islands. It's pegged to the euro w...

The Dodd-Frank Act is a U.S. law enacted after the 2008 financial crisis to reform financial regulat...

Dominican Peso

DOP is the official currency of the Dominican Republic. It is issued by the Central Bank of the Domi...

A dormant account is an account that has had no customer-initiated activity for a long period, often...

Algerian Dinar

DZD is the official currency of Algeria. It is issued by the Bank of Algeria and is subdivided into ...

European Banking Authority

The EBA is an EU agency that creates regulatory standards and promotes harmonized banking supervisio...

Earnings Before Interest, Taxes, Depreciation, and Amortization

EBITDA is a measure of operating performance that excludes interest, taxes, depreciation, and amorti...

European Central Bank

The ECB is the central bank for the eurozone and is responsible for monetary policy in the region. I...

Enhanced Due Diligence

EDD is a higher level of scrutiny applied to customers or transactions that present greater risk. It...

Electronic Funds Transfer

EFT is a broad term for any transfer of money from one bank account to another through electronic me...

Egyptian Pound

EGP is the official currency of Egypt. It is issued by the Central Bank of Egypt and is subdivided i...

Europe, Middle East, and Africa

EMEA is a regional designation used in business and banking to describe operations or markets spanni...

Europay, Mastercard, and Visa

EMV is the global standard for chip-based payment cards and terminals. It uses dynamic cryptographic...

An endorsement is a signature on the back of a check that authorizes the bank to process it. The pay...

Electronic Payments Network

EPN is an ACH operator in the United States that processes electronic payments between banks and cre...

Eritrean Nakfa

ERN is the official currency of Eritrea. It is issued by the Bank of Eritrea and is subdivided into ...

Escrow is a financial arrangement where a third party holds and manages funds or documents on behalf...

European Securities and Markets Authority

ESMA is the EU's securities markets regulator. It develops rules for securities markets and supervis...

Ethiopian Birr

ETB is the official currency of Ethiopia. It is issued by the National Bank of Ethiopia and is subdi...

Exchange-Traded Fund

An ETF is an investment fund that holds a basket of securities and trades on an exchange like a stoc...

Ethereum

ETH is the ticker symbol for Ether, the native cryptocurrency of the Ethereum blockchain platform, w...

Euro

EUR is the official currency of the Eurozone, used by 20 of the 27 European Union member states. It'...

The eurozone is the group of European Union countries that use the euro as their official currency. ...

The Falkland Islands Government is the issuing authority for the FKP. It is responsible for currency...

Fast and Secure Transfers

FAST is Singapore's instant bank transfer service for SGD payments. It enables immediate, 24/7 trans...

FPS

The Faster Payments Service is a UK payment system that enables near-real-time transfers in pounds s...

Foreign Account Tax Compliance Act

FATCA is a U.S. law that requires foreign financial institutions to report accounts held by U.S. tax...

Financial Conduct Authority

The FCA is the UK's conduct regulator for financial services firms and markets. It focuses on consum...

Federal Deposit Insurance Corporation

The FDIC is a US government agency that provides deposit insurance to depositors in American banks. ...

Federal Reserve ACH

FedACH is the ACH operator service provided by the Federal Reserve Banks, processing electronic paym...

Federal Reserve System (Fed)

The Federal Reserve is the central bank system of the United States. It sets monetary policy, superv...

FedNow is a real-time payment service operated by the Federal Reserve that enables instant credit tr...

Federal Reserve Wire Network

Fedwire is a real-time gross settlement (RTGS) system operated by the Federal Reserve Banks for high...

Fiat currency is money issued by a government and declared legal tender, but it is not backed by a p...

Fair Isaac Corporation

FICO is the company that created the most widely used credit scoring model. A FICO score is a three-...

Financial Crimes Enforcement Network

FinCEN is a bureau of the U.S. Treasury focused on combating financial crime. It collects and analyz...

Financial Industry Regulatory Authority

FINRA is a private, self-regulatory organization that oversees broker-dealers and their registered r...

Financial Technology

Fintech refers to technology-driven innovation in financial services. It encompasses mobile banking,...

Fijian Dollar

FJD is the official currency of Fiji. It is issued by the Reserve Bank of Fiji and is subdivided int...

Falkland Islands Pound

FKP is the official currency of the Falkland Islands. It is issued by the Falkland Islands Governmen...

Forbearance is a temporary agreement that reduces or pauses loan payments for a set period. It is of...

An FX spread is the difference between the buy and sell exchange rates for a currency pair. It repre...

Generally Accepted Accounting Principles

GAAP is a set of accounting standards and rules used for financial reporting in the United States. I...

British Pound Sterling

GBP is the official currency of the United Kingdom and its territories. It's one of the oldest curre...

Gulf Cooperation Council

The GCC is a regional bloc of six Gulf countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and th...

General Data Protection Regulation

GDPR is a European Union regulation that governs how personal data is collected, processed, and stor...

Georgian Lari

GEL is the official currency of Georgia. It has been the sole legal tender since 1995 and is issued ...

Ghanaian Cedi

GHS is the official currency of Ghana. It is issued by the Bank of Ghana and is subdivided into 100 ...

Gibraltar Pound

GIP is the official currency of Gibraltar. It is issued by the Government of Gibraltar and is subdiv...

Gramm-Leach-Bliley Act

GLBA is a U.S. law that requires financial institutions to protect customer information and disclose...

Gambian Dalasi

GMD is the official currency of The Gambia. It is issued by the Central Bank of The Gambia and is su...

Guinean Franc

GNF is the official currency of Guinea. It is issued by the Central Bank of the Republic of Guinea a...

The Government of Gibraltar is the issuing authority for the GIP. It is responsible for currency iss...

Gross margin is the percentage of revenue remaining after subtracting the cost of goods sold. It mea...

Guatemalan Quetzal

GTQ is the official currency of Guatemala, named after the national bird, the resplendent quetzal. I...

A guarantor is a person or entity that agrees to repay a loan if the borrower defaults. It provides ...

Guyanese Dollar

GYD is the official currency of Guyana. It is issued by the Bank of Guyana and is subdivided into 10...

Home Equity Line of Credit

A HELOC is a revolving line of credit secured by the equity in a home. Borrowers can draw funds duri...

Hong Kong Dollar

HKD is the official currency of Hong Kong. It's pegged to the US dollar within a narrow band, provid...

Hong Kong Monetary Authority

HKMA is Hong Kong's central banking authority and financial regulator. It maintains currency stabili...

Honduran Lempira

HNL is the official currency of Honduras, named after the 16th-century indigenous Lenca leader Lempi...

Haitian Gourde

HTG is the official currency of Haiti. It is issued by the Bank of the Republic of Haiti and is subd...

Hungarian Forint

HUF is the official currency of Hungary. It is issued by the Magyar Nemzeti Bank (Central Bank of Hu...

International Bank Account Number

An IBAN is a standardized international numbering system used to identify bank accounts across natio...

Indonesian Rupiah

IDR is the official currency of Indonesia. It is issued and controlled by Bank Indonesia and is subd...

International Financial Reporting Standards

IFRS is a set of global accounting standards used by many countries outside the United States. It ai...

Indian Financial System Code

IFSC is an 11-character alphanumeric code used to identify bank branches in India for electronic pay...

Israeli New Shekel

ILS is the official currency of Israel. It is issued by the Bank of Israel and has been in circulati...

IRD

An image replacement document is a paper copy of a check created from a digital image. It is legally...

Impairment is a reduction in the value of an asset when its carrying amount exceeds its recoverable ...

Immediate Payment Service

IMPS is India's real-time payments service that enables instant bank-to-bank transfers. It supports ...

An income statement is a financial statement that summarizes revenue, expenses, and profit over a sp...

Indian Rupee

INR is the official currency of India. It's managed by the Reserve Bank of India and is one of the m...

Institut d'émission d'outre-mer is the issuing institution for the XPF in French Pacific territories...

Interac e-Transfer is a Canadian EFT service that lets individuals and businesses send money using a...

Interest is the cost of borrowing money or the return earned on deposited funds, typically expressed...

An interest-only loan allows borrowers to pay only interest for an initial period. Principal repayme...

An intermediary bank is a bank that sits between the sending and receiving banks to route an interna...

Iraqi Dinar

IQD is the official currency of Iraq. It is issued by the Central Bank of Iraq and is subdivided int...

Iranian Rial

IRR is the official currency of Iran. It is issued by the Central Bank of the Islamic Republic of Ir...

Icelandic Króna

ISK is the official currency of Iceland. It is issued by the Central Bank of Iceland (Seðlabanki Ísl...

ISO 20022 is an international standard for financial messaging that defines a common data model and ...

Japan Financial Services Agency

The JFSA is Japan's primary financial regulator overseeing banking, securities, and insurance. It se...

Jamaican Dollar

JMD is the official currency of Jamaica. It is issued by the Bank of Jamaica and was introduced in 1...

Jordanian Dinar

JOD is the official currency of Jordan. It is issued by the Central Bank of Jordan and has been pegg...

A joint account is a bank account owned by two or more people, often a shared checking account or sa...

A journal entry is the record of a financial transaction in an accounting system. It specifies the a...

Japanese Yen

JPY is the official currency of Japan and the third most traded currency in the world. Unlike most c...

Kenyan Shilling

KES is the official currency of Kenya. It is issued by the Central Bank of Kenya and is subdivided i...

Kyrgyzstani Som

KGS is the official currency of Kyrgyzstan. It is issued by the National Bank of the Kyrgyz Republic...

Cambodian Riel

KHR is the official currency of Cambodia. It is issued by the National Bank of Cambodia and is subdi...

Comorian Franc

KMF is the official currency of the Comoros. It is issued by the Central Bank of the Comoros and is ...

North Korean Won

KPW is the official currency of North Korea. It is issued by the Central Bank of the Democratic Peop...

South Korean Won

KRW is the official currency of South Korea. It is issued by the Bank of Korea and was formerly subd...

Kuwaiti Dinar

KWD is the official currency of Kuwait. It is the world's highest-valued currency unit, issued by th...

Know Your Customer

KYC is the process financial institutions use to verify the identity of their customers. It's a key ...

Cayman Islands Dollar

KYD is the official currency of the Cayman Islands. It is issued by the Cayman Islands Monetary Auth...

Kazakhstani Tenge

KZT is the official currency of Kazakhstan. It is issued by the National Bank of Kazakhstan and is s...

Lao Kip

LAK is the official currency of Laos. It is issued by the Bank of the Lao PDR and was historically s...

Latin America

LATAM is a regional designation for Latin America, encompassing countries in Central America, South ...

Lebanese Pound

LBP is the official currency of Lebanon, also known as the Lebanese lira. It is issued by Banque du ...

A ledger is a book or digital record containing all financial transactions of a business, organized ...

Ledger balance is the account balance at the beginning of a business day, before any transactions ar...

A lien is a legal claim or right against a property, typically used as security for a debt. The prop...

A line of credit is a type of revolving credit account that allows a borrower to draw funds up to a ...

Liquidity refers to how easily an asset can be converted to cash without significantly affecting its...

Sri Lankan Rupee

LKR is the official currency of Sri Lanka. It is issued by the Central Bank of Sri Lanka and is subd...

LTV

Loan-to-value ratio compares the loan amount to the value of the collateral. It measures how much of...

Liberian Dollar

LRD is the official currency of Liberia. It is issued by the Central Bank of Liberia and is subdivid...

Lesotho Loti

LSL is the official currency of Lesotho. It is issued by the Central Bank of Lesotho and is subdivid...

Libyan Dinar

LYD is the official currency of Libya. It is issued by the Central Bank of Libya and is subdivided i...

Lynx is Canada's high-value RTGS payments system that settles transactions in real time with immedia...

Moroccan Dirham

MAD is the official currency of Morocco. It is issued by Bank Al-Maghrib and is subdivided into 100 ...

Magyar Nemzeti Bank is Hungary's central bank. It sets monetary policy, issues the HUF, and supports...

A maintenance fee is a recurring monthly service fee for keeping an account open. It covers account ...

Maldives Monetary Authority is the monetary authority for the Maldives. It issues the MVR and suppor...

Monetary Authority of Singapore

MAS is Singapore's central bank and integrated financial regulator. It oversees monetary policy, ban...

Moldovan Leu

MDL is the official currency of Moldova. It is issued by the National Bank of Moldova and is subdivi...

Middle East and North Africa

MENA is a regional designation for the Middle East and North Africa. It is used in banking and finan...

Malaysia Electronic Payment System

MEPS+ is Malaysia's real-time gross settlement system for high-value interbank payments. It enables ...

Malagasy Ariary

MGA is the official currency of Madagascar. It is issued by the Banky Foiben'i Madagasikara (Central...

Magnetic Ink Character Recognition

MICR is a technology used on checks that allows machines to read the routing number, account number,...

A microtransaction is a small-value payment, typically for a digital good or service such as in-app ...

Minimum balance is the lowest amount of money required in an account to avoid fees or qualify for ce...

Macedonian Denar

MKD is the official currency of North Macedonia. It is issued by the National Bank of the Republic o...

Myanmar Kyat

MMK is the official currency of Myanmar. It is issued by the Central Bank of Myanmar and is subdivid...

Mongolian Tugrik

MNT is the official currency of Mongolia. It is issued by the Bank of Mongolia and is subdivided int...

Mobile check deposit allows customers to deposit a check using a smartphone app. The app captures im...

Monetary Authority of Macao is the monetary authority for Macau. It issues the MOP and supports curr...

A money order is a prepaid payment instrument issued by a bank, post office, or retailer. It is used...

Macanese Pataca

MOP is the official currency of Macau. It is managed by the Monetary Authority of Macao and is subdi...

A mortgage is a loan used to purchase real estate, where the property serves as collateral. The borr...

Mauritanian Ouguiya

MRU is the official currency of Mauritania. It is issued by the Central Bank of Mauritania.

Mauritian Rupee

MUR is the official currency of Mauritius. It is issued by the Bank of Mauritius and is subdivided i...

Maldivian Rufiyaa

MVR is the official currency of the Maldives. It is issued by the Maldives Monetary Authority and is...

Malawian Kwacha

MWK is the official currency of Malawi. It is issued by the Reserve Bank of Malawi and is subdivided...

Mexican Peso

MXN is the official currency of Mexico. It's the most traded currency in Latin America and among the...

Malaysian Ringgit

MYR is the official currency of Malaysia. It is issued by Bank Negara Malaysia and is subdivided int...

Mozambican Metical

MZN is the official currency of Mozambique. It is issued by the Banco de Moçambique and is subdivide...

National Automated Clearing House Association

NACHA is the organization that governs the ACH network in the United States, setting the rules and s...

Namibian Dollar

NAD is the official currency of Namibia. It is issued by the Bank of Namibia and is subdivided into ...

Narodowy Bank Polski is Poland's central bank. It sets monetary policy, issues the PLN, and supports...

National Bank of Angola is Angola's central bank. It sets monetary policy, issues the AOA, and suppo...

National Bank of Cambodia is Cambodia's central bank. It sets monetary policy, issues the KHR, and s...

National Bank of Georgia is Georgia's central bank. It sets monetary policy, issues the GEL, and sup...

National Bank of Kazakhstan is Kazakhstan's central bank. It sets monetary policy, issues the KZT, a...

National Bank of Moldova is Moldova's central bank. It sets monetary policy, issues the MDL, and sup...

National Bank of Romania is Romania's central bank. It sets monetary policy, issues the RON, and sup...

National Bank of Rwanda is Rwanda's central bank. It sets monetary policy, issues the RWF, and suppo...

National Bank of Serbia is Serbia's central bank. It sets monetary policy, issues the RSD, and suppo...

National Bank of Tajikistan is Tajikistan's central bank. It sets monetary policy, issues the TJS, a...

National Bank of the Kyrgyz Republic is Kyrgyzstan's central bank. It sets monetary policy, issues t...

National Bank of the Republic of Belarus is the central bank of Belarus. It sets monetary policy, is...

National Bank of the Republic of North Macedonia is North Macedonia's central bank. It sets monetary...

National Bank of Ukraine is Ukraine's central bank. It sets monetary policy, issues the UAH, and sup...

National Reserve Bank of Tonga is Tonga's central bank. It sets monetary policy, issues the TOP, and...

National Electronic Funds Transfer

NEFT is India's national electronic funds transfer system for account-to-account payments. It proces...

A neobank is a digital-first bank that operates primarily through mobile apps and online platforms, ...

Nepal Rastra Bank is Nepal's central bank. It sets monetary policy, issues the NPR, and supports fin...

Net income is a company's profit after all expenses, taxes, and interest are deducted from revenue. ...

NFC payments use near-field communication to enable short-range, contactless transactions. They are ...

Nigerian Naira

NGN is the official currency of Nigeria. It is issued by the Central Bank of Nigeria and is subdivid...

Nicaraguan Córdoba

NIO is the official currency of Nicaragua, named after the Spanish explorer Francisco Hernández de C...

Norwegian Krone

NOK is the official currency of Norway. Its value is significantly influenced by oil prices, as Norw...

North America

NORAM is a regional designation for North America, commonly used in business and banking. It typical...

The Nordics refers to the Nordic countries of Denmark, Finland, Iceland, Norway, and Sweden. The reg...

Norges Bank is Norway's central bank. It sets monetary policy, issues the Norwegian krone, and manag...

A nostro account is an account a bank holds in a foreign currency at another bank. It is used to set...

New Payments Platform

NPP is Australia's real-time account-to-account payments platform. It provides immediate clearing an...

Nepalese Rupee

NPR is the official currency of Nepal. It is issued by Nepal Rastra Bank and is subdivided into 100 ...

Non-Sufficient Funds

NSF refers to the status of a checking account that does not have enough money to cover a transactio...

Nigerian Uniform Bank Account Number

NUBAN is Nigeria's standardized 10-digit bank account number format. It provides a consistent accoun...

New Zealand Dollar

NZD is the official currency of New Zealand and several Pacific island territories. It's known as th...

Office of the Comptroller of the Currency

The OCC is a US federal agency that charters, regulates, and supervises national banks and federal s...

Office of Foreign Assets Control

OFAC is a US Treasury Department agency that administers and enforces economic sanctions against tar...

Omani Rial

OMR is the official currency of Oman. It is issued by the Central Bank of Oman and is the third-high...

Open banking is a system where banks share customer financial data with third-party providers throug...

Open finance expands open banking to include a broader range of financial data such as investments, ...

Opening balance is the amount of money in an account at the start of a statement period. It serves a...

Operating Expenses

OpEx refers to the day-to-day expenses required to run a business, such as salaries, rent, and utili...

An origination fee is an upfront charge for processing a loan. It is often expressed as a percentage...

Office of the Superintendent of Financial Institutions

OSFI is Canada's prudential regulator for banks, insurers, and pension plans. It oversees financial ...

An overdraft occurs when withdrawals from a bank account exceed the available balance, resulting in ...

Panamanian Balboa

PAB is one of the official currencies of Panama, alongside the US dollar. Named after Spanish explor...

A payee is the person or entity to whom a payment is made. On a check, the payee is the name written...

A payer is the person or entity making a payment. On a check, the payer is the account holder whose ...

A payment gateway is a service that captures and routes payment information from a merchant to a pay...

A payment processor manages the technical processing of card and electronic payments between merchan...

PayNow is a Singaporean overlay service that lets users send money using a mobile number, NRIC, or U...

Payment Card Industry Data Security Standard

PCI DSS is a set of security standards designed to ensure that all companies that accept, process, s...

Portable Document Format

PDF is a document format designed to preserve layout and typography across devices. Financial instit...

Peruvian Sol

PEN is the official currency of Peru. The name 'sol' means both 'solid' (from Latin solidus) and 'su...

A pending transaction is an authorized payment that has not yet been posted to your account. It temp...

The People's Bank of China (PBOC) is China's central bank. It sets monetary policy, issues the yuan,...

Politically Exposed Person

A PEP is an individual who holds, or has held, a prominent public function and is considered higher ...

A personal loan is a fixed-term loan that is often unsecured and used for general purposes. Borrower...

Papua New Guinean Kina

PGK is the official currency of Papua New Guinea. It is issued by the Bank of Papua New Guinea and i...

Philippine Peso

PHP is the official currency of the Philippines. It is issued by Bangko Sentral ng Pilipinas and is ...

PIX is Brazil's instant payment system operated by the Central Bank of Brazil. It allows 24/7 transf...

Pakistani Rupee

PKR is the official currency of Pakistan. It is issued by the State Bank of Pakistan and was subdivi...

Polish Złoty

PLN is the official currency of Poland. It is issued by Narodowy Bank Polski (National Bank of Polan...

Positive pay is a fraud prevention service where a business provides the bank with a list of issued ...

A post-dated check is a check written with a future date. It signals the payer's intent that the che...

Posting date is the date a transaction is recorded on your account ledger. It is the date used for s...

Prudential Regulation Authority

The PRA is the UK's prudential regulator for banks, insurers, and major investment firms. It focuses...

Pre-approval is a conditional lender statement indicating a borrower may qualify for a loan. It is b...

A prepaid expense is a payment made in advance for goods or services to be received in the future. I...

A prepayment penalty is a fee charged for paying off a loan early. It compensates the lender for los...

Principal is the original amount of money borrowed in a loan or the original amount invested. It doe...

Payment Services Directive 2

PSD2 is a European Union regulation that requires banks to open their payment infrastructure and cus...

Paraguayan Guaraní

PYG is the official currency of Paraguay, named after the indigenous Guaraní people. It is issued by...

Qatari Riyal

QAR is the official currency of Qatar. It is issued by the Qatar Central Bank and has been pegged to...

Qatar Central Bank is Qatar's central bank. It sets monetary policy, issues the QAR, and supports fi...

QR code payments use a scannable code to initiate a payment from a mobile device or banking app. The...

Reconciliation is the process of comparing two sets of records to ensure they match - typically comp...

A reference number is a unique identifier assigned to a transaction. It helps banks and customers tr...

Refinancing replaces an existing loan with a new one, often to change the interest rate or term. It ...

Regulation CC implements the U.S. Expedited Funds Availability Act and sets rules for check deposits...

Regulation D is a U.S. Federal Reserve regulation governing reserve requirements and certain transac...

Regulation DD implements the U.S. Truth in Savings Act and requires banks to disclose account terms ...

Regulation E implements the U.S. Electronic Fund Transfer Act and protects consumers using electroni...

A remittance is a transfer of money, often sent by individuals to family or businesses in another co...

Remote deposit capture is a service that lets businesses and individuals deposit checks by transmitt...

The Reserve Bank of Australia (RBA) is Australia's central bank. It sets monetary policy, issues the...

Reserve Bank of Fiji is Fiji's central bank. It sets monetary policy, issues the FJD, and supports f...

The Reserve Bank of India (RBI) is India's central bank. It sets monetary policy, issues the rupee, ...

Reserve Bank of Malawi is Malawi's central bank. It sets monetary policy, issues the MWK, and suppor...

The Reserve Bank of New Zealand (RBNZ) is New Zealand's central bank. It manages monetary policy, is...

Reserve Bank of Vanuatu is Vanuatu's central bank. It sets monetary policy, issues the VUV, and supp...

Reserve Bank of Zimbabwe is the central bank of Zimbabwe. It sets monetary policy, issues the ZWG, a...

A revolving credit account lets a borrower reuse credit up to a set credit limit as balances are rep...

Releve d'Identite Bancaire

RIB is a French bank account identification format used for domestic transfers. It contains the bank...

A robo-advisor is a digital platform that provides automated investment management, often offered by...

Romanian Leu

RON is the official currency of Romania. It is issued by the National Bank of Romania (Banca Naționa...

ABA Routing Transit Number

A routing number is a nine-digit code used in the United States to identify financial institutions. ...

Royal Monetary Authority of Bhutan is the monetary authority for Bhutan. It issues the BTN and suppo...

Serbian Dinar

RSD is the official currency of Serbia. It is issued by the National Bank of Serbia, with the modern...

RT1 is a real-time payments system operated by EBA Clearing in Europe. It provides instant processin...

Real-Time Gross Settlement

RTGS is a funds transfer system where money moves from one bank to another on a real-time and gross ...

Real-Time Payments

RTP is a U.S. real-time payments network that allows immediate, credit-push transfers between partic...

Russian Ruble

RUB is the official currency of the Russian Federation. It is issued by the Bank of Russia and is su...

Rwandan Franc

RWF is the official currency of Rwanda. It is issued by the National Bank of Rwanda and is subdivide...

South Asian Association for Regional Cooperation

SAARC is a regional organization of South Asian countries used in economic and banking contexts. It ...

Saudi Riyal

SAR is the official currency of Saudi Arabia. It has been pegged to the US dollar since 1986, reflec...

Satoshi

Satoshi is the smallest unit of Bitcoin, equal to 0.00000001 BTC (one hundred millionth of a bitcoin...

The Saudi Central Bank (SAMA) is Saudi Arabia's central bank and financial regulator. It issues the ...

A savings account is a deposit account that typically earns interest on the balance. It's designed f...

Solomon Islands Dollar

SBD is the official currency of the Solomon Islands. It is issued by the Central Bank of Solomon Isl...

Seychellois Rupee

SCR is the official currency of Seychelles. It is issued by the Central Bank of Seychelles and is su...

Sudanese Pound

SDG is the official currency of Sudan. It is issued by the Central Bank of Sudan and is subdivided i...

Securities and Exchange Commission

SEC is the U.S. federal agency responsible for enforcing securities laws, regulating securities mark...

A secured loan is backed by collateral such as a home or vehicle. If the borrower defaults, the lend...

Swedish Krona

SEK is the official currency of Sweden. Despite being an EU member, Sweden has retained its own curr...

Single Euro Payments Area

SEPA is a payment integration initiative of the European Union for simplification of bank transfers ...

SEPA Credit Transfer Instant (SCT Inst)

SEPA Instant is a European payment scheme that enables euro credit transfers to settle within second...

A service fee is a charge for specific account services or transactions. Examples include wire fees,...

Singapore Dollar

SGD is the official currency of Singapore. It's one of the strongest and most stable currencies in A...

Saint Helena Pound

SHP is the official currency of Saint Helena and Ascension Island. It is fixed at parity with the Br...

Sierra Leonean Leone

SLE is the official currency of Sierra Leone. It is issued by the Bank of Sierra Leone and is subdiv...

A smart contract is self-executing code stored on a blockchain that runs when predefined conditions ...

A sort code is a 6-digit number used for domestic transfers in the United Kingdom which identifies t...

Somali Shilling

SOS is the official currency of Somalia. It is issued by the Central Bank of Somalia and is subdivid...

The South African Reserve Bank (SARB) is South Africa's central bank. It sets monetary policy, issue...

Sarbanes-Oxley Act

SOX is a U.S. law that strengthened corporate financial reporting and internal controls. It was enac...

Sistema de Pagos Electronicos Interbancarios

SPEI is Mexico's real-time gross settlement (RTGS) electronic interbank payment system. It enables r...

Surinamese Dollar

SRD is the official currency of Suriname. It replaced the Surinamese guilder in 2004 at a rate of 1 ...

Sub-Saharan Africa

SSA is a regional designation for African countries south of the Sahara. It is used in banking to gr...

South Sudanese Pound

SSP is the official currency of South Sudan. It was introduced after independence and is issued by t...

A stablecoin is a type of cryptocurrency designed to maintain a stable value by pegging it to a rese...

A stale-dated check is a check presented long after it was issued, typically six months or more. Ban...

A standing order is a regular, fixed EFT payment set up by an account holder to pay a set amount to ...

State Bank of Pakistan is Pakistan's central bank. It sets monetary policy, issues the PKR, and supp...

State Bank of Vietnam is Vietnam's central bank. It sets monetary policy, issues the VND, and suppor...

A statement cycle is the recurring schedule for generating account statements. It determines when a ...

A statement period is the date range covered by a bank statement. It includes all transactions poste...

STEP2 is a pan-European automated clearing house service operated by EBA Clearing. It processes SEPA...

São Tomé and Príncipe Dobra

STN is the official currency of São Tomé and Príncipe. It is issued by the Central Bank of São Tomé ...

A stop payment is an instruction to a bank to prevent a specific check or payment from being process...

A student loan is a loan used to pay for education expenses such as tuition, books, and housing. Rep...

SAR

A Suspicious Activity Report is a report filed by financial institutions to notify authorities of po...

Sveriges Riksbank is Sweden's central bank and one of the oldest in the world. It manages monetary p...

Society for Worldwide Interbank Financial Telecommunication

SWIFT is a global messaging network that financial institutions use to securely transmit information...

A SWIFT code is an 8 or 11-character code that uniquely identifies banks and financial institutions ...

Global Payments Innovation

SWIFT gpi is a global payments initiative that adds tracking, transparency, and faster processing to...

The Swiss National Bank (SNB) is Switzerland's central bank. It conducts monetary policy, issues the...

Syrian Pound

SYP is the official currency of Syria, also known as the Syrian lira. It is issued by the Central Ba...

Swazi Lilangeni

SZL is the official currency of Eswatini (formerly Swaziland). It is issued by the Central Bank of E...

TARGET2 is the Eurosystem real-time gross settlement system for euro-denominated payments. It is use...

Thai Baht

THB is the official currency of Thailand. It is issued by the Bank of Thailand and is subdivided int...

TARGET Instant Payment Settlement

TIPS is the TARGET2 Instant Payment Settlement service that enables instant euro payments across Eur...

Tajikistani Somoni

TJS is the official currency of Tajikistan. It is issued by the National Bank of Tajikistan and is s...

Turkmenistani Manat

TMT is the official currency of Turkmenistan. It is issued by the Central Bank of Turkmenistan and i...

Tunisian Dinar

TND is the official currency of Tunisia. It is issued by the Central Bank of Tunisia and is subdivid...

Tokenization replaces sensitive payment data with a non-sensitive token that can be used for transac...

Tongan Paʻanga

TOP is the official currency of Tonga. It is issued by the National Reserve Bank of Tonga and is sub...

A transaction descriptor is the text shown on a bank statement to identify a payment or deposit. It ...

Canadian Transit Number

A transit number is a 9-digit code used in Canada for electronic funds transfers. It identifies a sp...

A traveler's check is a prepaid check designed for secure use while traveling. It can be replaced if...

A trial balance is a list of all ledger accounts and their balances at a point in time. It is used t...

Turkish Lira

TRY is the official currency of Turkey and the Turkish Republic of Northern Cyprus. It is issued by ...

Trinidad and Tobago Dollar

TTD is the official currency of Trinidad and Tobago. It is issued by the Central Bank of Trinidad an...

New Taiwan Dollar

TWD is the official currency of Taiwan. It is issued by the Central Bank of the Republic of China (T...

Tanzanian Shilling

TZS is the official currency of Tanzania. It is issued by the Bank of Tanzania and is subdivided int...

Ukrainian Hryvnia

UAH is the official currency of Ukraine. It is issued by the National Bank of Ukraine and has been t...

Ultimate Beneficial Owner

A UBO is the person who ultimately owns or controls a legal entity. Identifying UBOs helps prevent t...

Ugandan Shilling

UGX is the official currency of Uganda. It is issued by the Bank of Uganda.

Underwriting is the process of evaluating a borrower's risk and deciding whether to approve a loan. ...

An unsecured loan is not backed by collateral and relies on the borrower's creditworthiness. Lenders...

Unified Payments Interface

UPI is India's real-time payments system that enables instant transfers between bank accounts using ...

United States Dollar

USD is the official currency of the United States and its territories. It's the world's primary rese...

USD Coin

USDC is a regulated stablecoin pegged 1:1 to the US dollar, issued by Circle and governed by the Cen...

Tether

USDT is the largest stablecoin by market capitalization, pegged 1:1 to the US dollar and issued by T...

Uruguayan Peso

UYU is the official currency of Uruguay. It is issued by the Central Bank of Uruguay (Banco Central ...

Uzbekistani Sum

UZS is the official currency of Uzbekistan. It is issued by the Central Bank of the Republic of Uzbe...

Value date is the date when funds are considered effective for settlement or interest purposes. It d...

Venezuelan Bolívar

VES is the official currency of Venezuela. It is issued by the Central Bank of Venezuela (Banco Cent...

A virtual card is a digital card number used for online or remote payments. It can be generated for ...

Vietnamese Đồng

VND is the official currency of Vietnam. It is issued by the State Bank of Vietnam and has no practi...

A voided check is a check that has been marked 'VOID' to prevent it from being used for payment. It'...

A vostro account is an account a foreign bank holds with a local bank, usually in the local currency...

Vanuatu Vatu

VUV is the official currency of Vanuatu. It is issued by the Reserve Bank of Vanuatu and has no subd...

A wire transfer is an electronic transfer of funds between banks or financial institutions. Wire tra...

Working capital is the difference between current assets and current liabilities. It measures a comp...

A write-off is an accounting action that reduces the carrying value of an asset. It is often used wh...

Samoan Tālā

WST is the official currency of Samoa. It is issued by the Central Bank of Samoa and is subdivided i...

x402 is an internet-native payments protocol that lets services request payment directly in HTTP res...

Central African CFA Franc

XAF is the official currency of six Central African countries: Cameroon, Central African Republic, C...

Silver

XAG is the ISO 4217 code for silver, typically representing one troy ounce. It is used for quoting a...

Gold

XAU is the ISO 4217 code for gold, typically representing one troy ounce. It is used in trading and ...

East Caribbean Dollar

XCD is the official currency of eight Caribbean territories that form the Eastern Caribbean Currency...

Caribbean Guilder

XCG is the official currency of Curaçao and Sint Maarten. It is issued by the Central Bank of Curaça...

Special Drawing Rights

XDR is the IMF's international reserve asset used as a unit of account. Its value is based on a bask...

Excel Binary Spreadsheet

XLS is the legacy Microsoft Excel spreadsheet format used before XLSX. It stores data in a binary st...

Excel Open XML Spreadsheet

XLSX is the modern Microsoft Excel spreadsheet format based on Open XML. It replaced the older XLS f...

West African CFA Franc

XOF is the official currency of eight West African countries: Benin, Burkina Faso, Côte d'Ivoire, Gu...

Palladium

XPD is the ISO 4217 code for palladium, typically representing one troy ounce. It is used in trading...

CFP Franc

XPF is the official currency of French Polynesia, New Caledonia, and Wallis and Futuna. It is issued...

Platinum

XPT is the ISO 4217 code for platinum, usually representing one troy ounce. It is used in financial ...

Yemeni Rial

YER is the official currency of Yemen. It is issued by the Central Bank of Yemen and is subdivided i...

South African Rand

ZAR is the official currency of South Africa and is also legal tender in neighboring countries Namib...

Zambian Kwacha

ZMW is the official currency of Zambia. It is issued by the Bank of Zambia and is subdivided into 10...

Zimbabwe Gold (ZiG)

ZWG is the official currency of Zimbabwe, introduced in April 2024. It is issued by the Reserve Bank...

Zimbabwean Dollar

ZWL was the currency of Zimbabwe from 2019 until April 2024, when it was replaced by the Zimbabwe Go...