Glossary

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O

OAM AGENTS AND BROKERS ORGANIZATION (ORGANISMO DEGLI AGENTI E DEI MEDIATORI - OAM)

The OAM checks the requisites of financial agents and credit brokers and handles their registration on the official lists required by law. For further information and to consult the lists, visit: www.organismo-am.it.

ORDINARY ACCOUNT

An ordinary account is referred to as a consumer account, where the cost depends on the number of transactions carried out: the higher the number of transactions, the higher the cos.

OVERDRAFT OR CREDIT FACILITY

An amount that the bank makes available on a customer's current account beyond the customer's balance, in response to their request. The contract may charge interest on the amount used and a comprehensive fee.

OVERDRAFT LINE OF CREDIT

An overdraft line of credit is a sum that the bank, at the customer's request, agrees to make available to cover the customer's current account. This operation is called 'opening a current account credit facility’'