Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
38% - Moderately


Synonyms:accord, agreement, getting back together, settlement
Filed Under: financial-banking
Tags: banking

Definition of reconciliation

1. Re-establishing cordial relations.
2. Getting two things to correspond. For example, making sure your chequebook agrees with the bank's records.

Related Terms and Acronyms:

  • commingling   Lumping together money from different sources so the sources cannot be distinguished.
  • common law marriage (CLM)   To be recognized as being married without foregoing a matrimonial ceremony.
  • division of property   The dividing of marital assets during a divorce.
  • general account (GA)   Investments and assets that an insurer uses for paying benefits and claims.
  • joint account (J/A)   A bank account owned by two or more persons who share equally in the rights and liabilities of the account.
  • marital deduction   For estate tax and gift tax purposes, a deduction that allows you to transfer assets to your spouse tax-free.

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