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What is another word for PAYMENT ON ACCOUNT?

Pronunciation: [pˈe͡ɪmənt ˌɒn ɐkˈa͡ʊnt] (IPA)

Payment on account is a common financial term for when a customer pays for an item or service in advance without completing the full amount. It is also known as a partial payment or a deposit. There are several synonyms that can be used to describe payment on account, including prepayment, down payment, advance payment, partial payment or initial payment. Whatever the term used, the basic concept remains the same. Payment on account can be used to secure an order, confirm a reservation, or simply to provide flexibility in payment terms. This payment option is used in many industries, such as retail, travel, and construction, among others.
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What are the hypernyms for Payment on account?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.

  • Other hypernyms:

    payment, transaction, financial exchange, financial transaction, MONEY TRANSFER, payment arrangement.

Related words: account accounting, balance in account, credit on account, credit account, debit on account, debit account, credit payment on account, debit payment on account

Related questions:

  • What is a payment on account?
  • How do you pay on account?
  • What is the definition of a payment on account?

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