Balance Transfer, Glossary and Terms, Depository Institutions & Credit Unions

U.S Depository Institutions List of United States Depository Institutions, Credit Unions, Guide Service

"Balance Transfer" - Depository Glossary Terms and Abbreviations

Shifting the balance in an account or the balance owed on a loan to a new financial institution or different account. Good examples are the balance transfers done when the balance owed on a credit card is moved onto a new card. This is often done to move balances from a high-rate credit card onto a lower-rate credit card to reduce interest payments.

Depository glossary and terms by letter

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