What Is Annual Percentage Rate (APR)? How It Works With Relatable Sample
Opeyemi Quadri If you’ve ever taken out a loan, signed up for a credit card, or considered...
Banking Terms
Is 3D Secure the same as 2FA?
No, 3D Secure and Two-Factor Authentication (2FA) are related because they serve as security layer...
How 3D Secure Works in Banking: A Guide for Banking Executives
The digital revolution in banking has reshaped how customers interact with financial institutions, but it...
What Customer Identity Verification Do I Need to Open a Bank Account?
Every licenced financial institution makes an effort to know who their customers are. This process...
Know Your Customer (KYC): Why It’s Important and How It Works
When you walk into a bank to open an account, one of the first things...
Interest Income: Meaning and Its Sources
Interest income is the money you earn from keeping your savings or investments in a...
How Joint Account Works
A joint account is a bank account that is shared by two or more people,...
How Does Instant Transfer Work?
An instant transfer is a quick and easy way to send money between people or...
Insufficient Funds: Meaning and Example
“Insufficient funds” is a message you see on an ATM or in your online banking...
Banking Mobility and How It Works
Banking mobility is a service that makes it easy for people to switch from one...