daughter account

daughter account

Financial and business terms. 2012.

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  • concentration account — A cash management tool. A single account established by an entity, usually in conjunction with one or more zero balance disbursement accounts. Sometimes the concentration account is referred to as a parent account while the associated zero… …   Financial and business terms

  • custodial account — An account established on behalf of someone else. For example, when a parent opens an account for a minor child, or when a son or daughter opens and controls a bank account of an infirm parent …   Black's law dictionary

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