Banking

Prime Rate

Definition

The interest rate banks charge their most creditworthy customers, serving as a benchmark for many consumer and business loans.

Concepts

Related Terms

interest rateAPRfederal funds rate

Deeper Dive

Learn More

Account Number

A unique identifier assigned to a bank account for transactions.

ACH

Automated Clearing House - a US network for electronic bank-to-bank transfers, used for direct deposits, bill payments, and person-to-person transfers.

ACH Transfer

Automated Clearing House electronic fund transfer in the US.

Amortization

Spreading payments over multiple periods.

Available Balance

The amount of money in an account that is immediately available for withdrawal or use, excluding pending transactions and holds.

Browse

Browse by Category

View all terms
BankingCryptocurrencyCompliancePaymentsForeign ExchangeFintechGeneral Finance

Can't find what you're looking for?

Explore our full glossary of financial terms or get in touch with our team.

Browse GlossaryContact Support