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Glossary of Financial Terms



National Bank
A commercial bank operating under a federal charter and supervised and examined by the Comptroller of the Currency. The word national must appear in some form in the bank's corporate title. All national banks must belong to the Federal Reserve System and FDIC.

Negotiable Instrument
An unconditional written order or promise to pay a certain sum of money. The instrument must be easily transferable from one party to another. Various laws set forth the qualifications of negotiable instruments and the rights and liabilities of their parties.

Net Worth
The excess of assets over liabilities. The shareholders equity in a bank or business.

Night Depository
A convenience facility provided for merchants who wish to deposit their receipts after regular banking hours. A small vault, located on the inside of a bank but accessible outside the premises, is used.

No-hold Check Deposit
A deposit that includes a check with no hold placed on the check amount, so the deposit amount is immediately available for withdrawal.

  • Safe and secure night depository boxes are available at the 30th Avenue Astoria Branch and Whitestone Branch.

Non-cash Item
Any instrument that a bank declines to accept on a cash basis. A collection item. Credit is not posted to the customer's account until final settlement takes place.

Example: A government check or bank check

A customer who is not a United States citizen and must be re-certified every three years.

Non-Proprietary ATM
An ATM not owned by the bank.

Non-Sufficient Funds (NSF)
Funds that are not available for withdrawals due to check and/or management holds.

Note: A written promise to pay.

NOW Account
A special account, authorized by act of Congress that allows the customer to earn interest while at the same time has check-writing privileges.

  • First Central Savings Bank offers competitive interest-bearing liquid accounts for both checking and savings.

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