What is cot in banking terms?

What is cot in banking terms?

C.O.T is a commonly used abbreviation for Commission on Turnover. It is a charge levied on customer withdrawals by their banks. This gives the banks a two way source of revenue as they charge interest on customer deposits lent to other people and consequently charge on amount withdrawn by the customers themselevs.

What is the full form of cot?

COT Full Form

Full Form Category Term
Central Office Terminal Telecommunication COT
Customer-owned Tooling Electronics COT
Colombia Time Time COT
Carry Over Transactions Accounts and Finance COT

What does cot in math mean?

The short name for cotangent. It is the length of the adjacent side divided by the length of the side opposite the angle in a right-angled triangle. cot(θ) = adjacent / opposite. (Note: the tangent function tan(θ) = opposite / adjacent)

What does cot mean in time?

COT (Colombia Time) is one of the well-known names of UTC-5 time zone which is 5h. behind of UTC (Coordinated Universal Time). The time offset from UTC can be written as -05:00. It’s used as the standard time.

What is the correct definition for cot?

Technically speaking, the definition of cot(θ) is the ratio of a side adjacent to θ to the side opposite θ in a right triangle.

Is cot the inverse of tan?

cot(x) = 1/tan(x) , so cotangent is basically the reciprocal of a tangent, or, in other words, the multiplicative inverse.

What is the inverse of cot 1?

The inverse of the cotangent function is called inverse cotangent or arccot. It is denoted by cot-1x. The domain and range of arccot function is -∞ < x < ∞, and 0 < y < π respectively….What is Meant by Inverse Cotangent?

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COT also known as Commission on turnover in simple term are charges a customer incurs for debit transactions (transaction involving withdrawals and/or operating cost to the bank) from his current account. This serves as a secondary source of income for banks since they pay interest on customers deposits.

What is an online banking transfer deposit?

Online Banking Transfer is an online banking solution that allows immediate transfer of funds to your HarrahsCasino.com account. To use Online Banking Transfer you need to have enabled the “Bill Pay” facility with your bank. Only checking and savings accounts can be used NOT business accounts.

COT Full Form

Full Form Category Term
Commitment of Traders Stock Exchange COT
Camping Device Sports COT
Commanding Officer of Troops Military and Defence COT
Crisis Operations Team Military and Defence COT

How does an online bank transfer work?

How do online payments via bank transfer work?

  1. The customer completes the merchant’s checkout process and elects to pay via bank transfer.
  2. The business provides its bank account details to the customer, typically along with a unique transaction reference code.

Can a Citibank account be used for a swift transfer?

If Citibank sends your money via SWIFT transfer, there could be up to 3 additional banks that help get your money from one country to another, and all of them take a cut along the way. Ask Citibank for more details to find out if there will be any intermediary banks, and what fees they may charge.

What is a cot code in online banking?

COT code refers to cost of transfer for a bank to transfer funds from one account to another. COT codes are often associated with fraudulent activity.

How much does it cost to transfer money with Citibank?

An international transfer with Citibank will involve anywhere from 2-5 banks to get your money from one country to another. Often, each of these other banks take a bit along the way. Which means it can be tough to find out exactly how much your transfer will cost you in fees alone, not to mention the exchange rate.

What do you need for a Citibank wire transfer?

International wire transfers through Citibank. With a wire transfer, you can send your money to more than 7,000 banks worldwide. For international wire transfers, you’ll need to provide: Your recipient’s full name. Your recipient’s bank name, address, and SWIFT code. Your recipient’s bank routing and account numbers.