People say bankers never have any fun. Posh.
At Centennial, we may have to return a check for lack of funds, but we'll never return a joke for "insufficient funs."
Indeed, boom goes the dynamite.
Just take a look at how much fun can be had with otherwise boring and tedious banking terms. Think of what follows as an education…(cue Kevin James)…in fuuun.
We now present the first installment of…
Banking Terms Made Palatable…Palatable….Palatable…Palatable
This week's entries:
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Future Dating
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Regulation Q
Future Dating:
For dads with 13-year-old daughters, future dating is the leading cause of stress in the United States.
For banking customers, future dating is what takes place every other Friday at most offices in the western world. Ladies and gentlemen, we give you direct deposit.
In the banking world, that's what future dating is. According to our good buddies at Investopedia, future dating is "crediting a bank account to which the funds will be made available at a later date…"
And they add that future dating now is popular among government transactions as well.
"Commerce, this is Defense. Dinner. You, me. I'll pick you up at 8…"
Regulation Q:
A requirement by Her Majesty's Secret Service that James Bond send thank-you notes to Quartermaster for the special gadgets and weapons developed and used in successful missions. (It helps to know a little James Bond, folks. Learn up here.)
In the banking world, Regulation Q is simple. It's a Federal Reserve regulation that caps the interest rate banks can pay on savings deposits. Investopedia says this rule was implemented to prevent loan sharking, but alas, offers no explanation as to the title. Regulation Q? Really?
Tune in next time for another installment of Banking Terms Made Palatable, where we just may visit fun concepts like "belly up" and "easy money"….They're actual banking terms, people, we promise.
