Glossary entry

English term or phrase:

bank fees and rates

English answer:

fees relate to transactions, rates relate to interest charged

Added to glossary by Luiza Modesto
Oct 19, 2010 19:14
13 yrs ago
10 viewers *
English term

bank fees and rates

English Bus/Financial Finance (general)
Does anybody know the difference for sure?

TYVM. :)
Votes to reclassify question as PRO/non-PRO:

Non-PRO (1): Charlesp

When entering new questions, KudoZ askers are given an opportunity* to classify the difficulty of their questions as 'easy' or 'pro'. If you feel a question marked 'easy' should actually be marked 'pro', and if you have earned more than 20 KudoZ points, you can click the "Vote PRO" button to recommend that change.

How to tell the difference between "easy" and "pro" questions:

An easy question is one that any bilingual person would be able to answer correctly. (Or in the case of monolingual questions, an easy question is one that any native speaker of the language would be able to answer correctly.)

A pro question is anything else... in other words, any question that requires knowledge or skills that are specialized (even slightly).

Another way to think of the difficulty levels is this: an easy question is one that deals with everyday conversation. A pro question is anything else.

When deciding between easy and pro, err on the side of pro. Most questions will be pro.

* Note: non-member askers are not given the option of entering 'pro' questions; the only way for their questions to be classified as 'pro' is for a ProZ.com member or members to re-classify it.

Responses

+8
2 mins
Selected

fees relate to transactions, rates relate to interest charged

usually published in very small print.
Peer comment(s):

agree Filippe Vasconcellos de Freitas Guimarães : Excellent practical explanation. More broadly, fees are fixed and rates are variable.
1 min
agree Sean Mullen
14 mins
agree Suzan Hamer
21 mins
agree Allison Wright (X) : Would like to add though "rates relate to interest charged" or EARNED.
28 mins
Yes, of course it is true that banks pay interest on savings accounts and even on current accounts, but I was responding to the asker's question of the difference between fees and rates.
agree Stephanie Ezrol : I would add for the asker that rates are not necessarily variable. There are fixed rates, and it used to be more common to have fixed interest rates.
1 hr
agree Alice Bootman
2 hrs
agree Rolf Keiser
12 hrs
agree Charlesp
1 day 3 hrs
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "TY so much for your help. :)"
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search