Welcome to the world of banking, where countless terms and acronyms are thrown around on a regular basis. One such acronym that you may have come across is C&I, which stands for Commercial and Industrial. In the banking industry, C&I refers to a specific type of lending and financial service...
When used on a check, FBO refers to a payee other than the one whose name appears first on the payee line on the front of the check. On the line next to "Pay to the order of," an FBO check might read: "Jane Smith FBO John Smith." In this case, the funds are intended for Jo...
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Writing a FBO check helps to ensure that the funds will be used for a specific purpose, but in this case, the assisted living facility is considered as the custodian of the funds. The custodian endorses the check. Some banks will require both parties to endorse the check. Consult your ba...
When your savings fall in value, does that mean you are saving less? When you are spending all your income, but your stocks rise, does that mean you are saving more? These are interesting questions to ponder but show the difficulty or trying to separate savings and investment. ...