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servizio di deposito vincolato di somme accessorio al c/c di corrispondanza xxxx

English translation: Current account savings account (CASA) or Flexi fixed deposit

16:20 Jan 12, 2020
Italian to English translations [PRO]
Bus/Financial - Finance (general)
Italian term or phrase: servizio di deposito vincolato di somme accessorio al c/c di corrispondanza xxxx
This is a heading on a letter from a bank, similar to a bank statement I think - 'servizio di deposito vincolato di somme accessorio al c/c di corrispondanza xxxx' - does it refer to a term deposit??
Alex O Suilleabhain
Ireland
Local time: 00:52
English translation:Current account savings account (CASA) or Flexi fixed deposit
Explanation:
from the Banca di Sassari website (see link below):
si tratta di un servizio accessorio al conto corrente.
Attraverso il vincolo di somme per periodi di tempo prestabiliti,
offre una remunerazione migliorativa rispetto a quella prevista
sulle somme “libere” depositate sul conto corrente.
“Di più” : servizio di deposito vincolato di somme accessorio al conto corrente di corrispondenza * È prevista la possibilità di effettuare a condizioni di particolare favore uno o più vincoli, di importo unitario non inferiore a € 30.000 ed importo massimo complessivo non superiore a € 500.000 per scadenze di durata pari a 4 mesi, entro un mese dall’accensione del Conto alte prestazioni. **

This corresponds to a CASA account (See link below).
This is also called a Flexi-fixed deposit (see for example https://www.bankbazaar.com/fixed-deposit/flexi-fixed-deposit... -
a combination of a demand deposit and a fixed deposit. The depositor is able to enjoy both the liquidity of savings and current accounts and the high returns of fixed deposits.


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Note added at 19 hrs (2020-01-13 11:33:03 GMT)
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I agree that "current account linked term deposit" does convey the meaning well. However, this terminology is almost never used by banks (though it should be), as you will see by the very few hits this gives.
Nevertheless, I think that a translation such as "Flexi-fit deposit [a current account linked term deposit]" would do the job well in this instance.
Selected response from:

Irene (Renata) Liapis
Greece
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1Current account savings account (CASA) or Flexi fixed deposit
Irene (Renata) Liapis


  

Answers


41 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
Current account savings account (CASA) or Flexi fixed deposit


Explanation:
from the Banca di Sassari website (see link below):
si tratta di un servizio accessorio al conto corrente.
Attraverso il vincolo di somme per periodi di tempo prestabiliti,
offre una remunerazione migliorativa rispetto a quella prevista
sulle somme “libere” depositate sul conto corrente.
“Di più” : servizio di deposito vincolato di somme accessorio al conto corrente di corrispondenza * È prevista la possibilità di effettuare a condizioni di particolare favore uno o più vincoli, di importo unitario non inferiore a € 30.000 ed importo massimo complessivo non superiore a € 500.000 per scadenze di durata pari a 4 mesi, entro un mese dall’accensione del Conto alte prestazioni. **

This corresponds to a CASA account (See link below).
This is also called a Flexi-fixed deposit (see for example https://www.bankbazaar.com/fixed-deposit/flexi-fixed-deposit... -
a combination of a demand deposit and a fixed deposit. The depositor is able to enjoy both the liquidity of savings and current accounts and the high returns of fixed deposits.


--------------------------------------------------
Note added at 19 hrs (2020-01-13 11:33:03 GMT)
--------------------------------------------------

I agree that "current account linked term deposit" does convey the meaning well. However, this terminology is almost never used by banks (though it should be), as you will see by the very few hits this gives.
Nevertheless, I think that a translation such as "Flexi-fit deposit [a current account linked term deposit]" would do the job well in this instance.


    Reference: http://dokodoc.com/conto-alte-prestazioni.html
    Reference: http://www.investopedia.com/terms/c/current-account-savings-...
Irene (Renata) Liapis
Greece
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in GreekGreek
PRO pts in category: 20

Peer comments on this answer (and responses from the answerer)
neutral  philgoddard: Well done for finding the context, but I don't think your translation works - it sounds like a contradiction in terms. How about "current-account-linked term deposit"?
18 hrs
  -> Thanks for your comment. It may "sound" like it, but there is no contradiction here. This is exactly the same type of account, as you will see when comparing the two descriptions. See note regarding your suggestion - could not fit it here.
agree  Vittorio Preite: TERM DEPOSIT SERVICE sums based on current account n XXXXXX. With reference to large bank accounts, a Bank may offer a BETTER interest rate if the client agrees to bond sums for fixed terms.
1 day 3 hrs
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