- online banking service
- A service offered by a bank that allows you to download bank statements and make electronic fund transfers using a computer and an internet connection.
- online bill payment service
- A service offered by a bank or another company that allows you to send electronic payment instructions to a computer. This computer then withdraws the appropriate funds from your account and writes and sends a check to pay the bill.
- operating lease
- A lease covering a time period shorter than the economic life of the asset. Operating leases can be canceled at any time. Compare to a capital lease.
- opportunity cost
- Income that could be saved or earned by investing in another, more attractive endeavor. For example, if you had $10,000 in mutual funds paying $500 in dividends annually, and you knew you could earn $750 in dividends from stock, the cost of staying with your original investment—your opportunity cost—would be $250.
- option
- A contract giving a dealer or broker the right to buy or sell a security during a certain time period at a certain price.
- original issue discount (OID)
- The difference between what a bond costs when it was issued and what its price is at maturity.
- origination fee
- The fee that lenders charge loan applicants to handle loan applications and to conduct credit investigations.