Bank account
A bank account is a financial account maintained by a financial institution for a customer. A bank account can be a deposit account, a credit card account, or any other type of account offered by a financial institution, and represents the funds that a customer has entrusted to the financial institution and from which the customer can make withdrawals. Alternatively, accounts may be loan accounts in which case the customer owes money to the financial institution.
The financial transactions which have occurred within a given period of time on a bank account are reported to the customer on a bank statement and the balance of the accounts at any point in time is the financial position of the customer with the institution.
The laws of each country specify the manner in which accounts may be opened and operated. They may specify, for example, who may open an account, how the signatories can identify themselves, deposit and withdrawal limits and many other matters.
Spanish translation: Cuenta bancaria
Examples:
- ‘Avoiding commissions associated with a bank account is often one of the main concerns of clients’.
- ‘In today's world, European citizens cannot fully participate in society without a bank account. Bank accounts have become an essential part of our everyday life, allowing us to make and receive payments, shop online and pay utility bills (telephone, gas, electricity)’.
Bankrupcty
Is a legal situation in which a person (natural person), company or institution (legal entities) can not face the payments that must be made (liabilities due), because these are higher than their available (active) economic resources.
Spanish translation: Quiebra o bancarrota
Examples:
- ‘A bankruptcy case normally begins when the debtor files a petition with the bankruptcy court. A petition may be filed by an individual, by spouses together, or by a corporation or other entity’.
- ‘Lehman Brothers bank filed for bankruptcy on September 15, 2008.’
No comments:
Post a Comment