The ‘Letter of Credit’ and the ‘StandBy Letter of Credit’ are two legal bank documents that are used by international traders. Both these letters are used to ensure the financial safety between the supplier...

Both debit and credit cards are small rectangular plastic cards issued by a financial institution, such as a bank or credit union. The main purpose of a debit card is to allow the account holder to access the...

Visa and MasterCard are card processing companies. They are essentially the middle-men between the card holders and the retailers. The main difference between Visa and MasterCard is in the list of merchants...

In financial accounting or bookkeeping, "Dr" (Debit) is the left side of a ledger account or when something has been deducted from the account, whereas "Cr" (Credit) is the right side of a...