Middle offices within banks play an important role in ensuring the accuracy and completeness of the data that is used for financial reporting. They also help to manage risk by providing information that is used to monitor and control exposure to various risks. In addition, middle offices provide valuable insights into the operations of the … Read more
Cleared funds are funds that have been paid into a bank account and have been cleared for use. This means that the funds have been processed and are available to be used. Cleared funds are sometimes also referred to as “available funds”. What is cash clearing? Cash clearing is a process whereby banks and other … Read more
A minimum balance is the minimum amount of money that a bank or credit union requires a customer to keep in their account in order to avoid being charged a fee. The minimum balance is usually set by the bank or credit union and is typically based on the type of account the customer has. … Read more
