Settlement date is when buyer pays seller and seller delivers cleared assets. Settlement dates evolved from manual certificate delivery to electronic processing. Settlement time reduced from T+5 to T+1 as of May 28, 2024
Beneficiary is designated person receiving benefits of another's property. Beneficiaries can be designated for various financial products. Financial account beneficiaries override will beneficiaries
Insurance coverage protects against unexpected events through premiums. Premiums are determined by risk factors and underwriting process. Insurance companies charge higher premiums for higher risk individuals
Bancassurance is a partnership between banks and insurance companies. Insurance companies sell products to bank customers. Banks earn revenue from insurance sales
No account maintenance or card issuance fees. CaixaBank operates imaginBank, imaginTeens and imaginKids accounts. CaixaBank Payments & Consumer handles payment services. Minimum account balance is €3,000, maximum €30,000 available
ZA Bank offers $18M financing with APR as low as 1.30%. Account opening takes just a few steps. Bank membership available in as fast as 2 minutes. Multiple bill payment services available through ZA Bill Master