What is the house?
House account is most often an account established for processing your own investment. This term can also be used to indicate an intermediary account, which is processed in the company's main office by a manager or on non -financial markets to refer to the way in which the account is managed. BROKERAGE is a company that acts as a mediator among buyers and sellers. This usually includes the purchase and sale of securities on behalf of the client. In most cases, brokerage is only carried out by the client's instructions rather than providing the Council or deciding how to invest your money. When this happens, it usually seems stupid to do it through another broker and pay these fees. Instead, the company will use its own staff and technology to buy and sell securities held in its own name. For administration purposes, these transactions will be carried out in a separate account known as House Account.
In a wider context, an account canExplore representatives and clients exist. In this way used, this term suggests that the account is considered to be so important enough to manage the Central Office team with it than a sales representative. This will often be the case with long -term clients or those who are personally known to managerial staff. Sales representatives tend to like home accounts because they do not earn a commission.
It is also possible that this type of home account exists with brokerage. In this environment, there is no distinction between management and a sales representative, because the sales representative of the mediation has rarely any involvement after attracting the client. Instead, there is a distinction between the current account where transactions can be carried out by a relatively junior staff at a branch, and a domestic account that is carried out in the main case and usually under the supervision of a manager or even executive director of the company.
The term House Account is also used by some banks to indicate an account of a cash market established specifically for homeowners to use household expenses. The aim is to be able to get interest and at the same time is able to make enough selections to pay for household accounts. This is useful in countries where standard control accounts do not pay interest. The use of the term house account in this way is usually a purely marketing activity without legal significance.