M-payment is the name given to a real-time payment that is made by using a mobile device. It was formally known as a mobile payment, the m-payment involves submitting an electronic remittance for an outstanding bill. The means of making an m-payment are…

According to a recent news story in Associated Press, It is highly unlikely that Federal Reserve Bank will change the key interest rates any time soon. Since the interest rates are currently at historic low for some time now and practically this is as low as Fed can keep them to kick start the jammed US economy. Despite the faint signs of improvement in economic activity, Fed is not likely to touch the rates at least not for next two quarters.

Passbooks are referred to simple paper books that include pages that are intended for use along with simple accounting notations regarding a bank account. Sometimes these passbooks are referred to as a bank book. The passbook was considered to be the most common means by which he banks keep up with the current balance in a savings account for many years. Due to the reason that the design of the passbook allowed the record to…

A retirement plan for business owners who do not employ any staff is referred to as a solo 401K. In order to be eligible for the Solo 401K plan, you must be the sole owner of the business, although there is a possibility that a spouse can also be included in the plan. It is also necessary…

Tax evasion is usually known as an act in which an individual intentionally chooses to not to pay income taxes that is due on him or her. This act of not paying taxes may be done by simply choosing to not file an income tax return, or choosing to not to include any information that is about taxable income…

There are two different ways in which the term “retrocession” is used. In the financial world, retrocession refers to a situation in which one firm which specializes in reinsurance agrees to take on some of the risk for another reinsurance company. This is designed such as to…

A type of vesting schedule associated with retirement plans such as 401(k), 457, and 403(b) plans is referred to as Cliff vesting. The term vesting is used in order to define the percentage of an account balance that a participant in a…

A reduction in the interest rate of a loan is referred to as a buy-down. A payment made when the loan is taken out, either by the borrower or the lender often compensates this reduction . This payment is known as…

Time notes refers to the financial commitments that include a deadline for the date that repayment in full will be completed. A series of payments might be included in the repayment process that occurs between the point of issue and the point of termination for the note, or it might be structured such as to…

Citizens of the United Kingdom (UK) have available to them a tax-privileged financial product that is referred to as an individual savings account (ISA). A cash ISA is a type of ISA that is used to hold cash, it is opposite to shares of stock. A cash ISA, earns interest tax-free up to…