What does DPs mean in banking?

The acronym dps was first used in the 1930s by the American government to describe debts owed to the United States, called “dollars paid.” The term came to be used informally to describe any debt owed to a government, or any debt owed to a private company that had gone into receivership and been taken over by the state or a bank.

What does it mean DPs in banking?

What is a dps It’s an acronym which is used to describe documentation processes that are specific to the banking industry. DPs are used for different types of documentation. For example, DPs are often used for loan applications or credit underwriting. In addition, DPs are used for tracking the status of a loan or other financial transaction. As you can see, DPs are used by almost every aspect of the business, which is why it’s important to stay up

What does DPs mean in finance?

DPs typically refers to Deposits taken from the public, or ‘general’, bank account. It is the money that customers save with a bank to use for any purpose. There are also several types of deposits, each having different interest rates.

What does DPs mean in banking terms?

DPs are defined as the digits that make up the primary account number for the bank. They include the account number, branch code, and check digit. DPs are used in routing transactions to the bank for final processing. They’re also the key to the bank’s online banking system.

What does DPs mean in banking industry?

Deposits are the money you put in the bank to earn interest. The term Deposits Payable refers to money that you owe to the bank and is collected when you make a withdrawal. The term Deposits Paid refers to the amount of money that the bank has actually received in your account.