what is the "position"?
glossary FAQ: glossary.
B. Craft from Zurich, Switzerland
18 September, 2009
The netted total holdings of a given currency. Visit Saxo Bank
what is "payable on death"?
glossary FAQ: glossary.
U. Middleton from Waterbury, United States
30 May, 2009
the "payable on death " is An arrangement between a bank or credit union and a client that designates beneficiaries to receive all the client's assets. The immediate transfer of assets is triggered by the death of the client.
Also referred to as a "totten trust."
POD accounts are created by filling out the proper forms at your bank or credit union. It is a cost-free service that allows for the transfer of all checking and savings accounts, security deposits, savings bonds and other deposit certificates. A POD account is very similar to a transfer-on-death arrangement, but deals with a person's bank assets instead of their stocks, bonds, mutual funds or other assets. Both POD and TOD agreements offer quick means of asset dispersement, as both avoid the probate process, which can take several months. Visit GCI
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