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Glossary entry

Spanish term or phrase:

PM S/Intereses

English translation:

Legal Entity /Non-interest bearing

Added to glossary by patinba
Jan 3, 2022 18:26
2 yrs ago
30 viewers *
Spanish term

PM S/Intereses

Spanish to English Bus/Financial Finance (general)
I'm translating a Banorte (Mexico) bank statement into English, and the description "PM S/Intereses" is listed as the account type. What does this mean? I know that it's probably referring to interest, but I don't know the meaning of the full expression or the acronyms here. Thanks.
Proposed translations (English)
4 +2 Legal Entity /Non-interest bearing
4 +1 Legal entity / interest free
4 economics
Change log

Jan 5, 2022 19:10: patinba Created KOG entry

Discussion

Helena Chavarria Jan 4, 2022:
@patinba Of course! I had completely forgotten that banks used to pay interest. Oh, those were the days...
patinba Jan 4, 2022:
@ Helena Not really, Helena, as the account is a deposit account or a checking account, where customers place their money and the bank is stating that they will not earn interest, not that the Bank will not charge interest ("interest free")
Helena Chavarria Jan 4, 2022:
@patinba I'm sure your answer is right but I would have thought that 'no interest charged on it' and 'no interest is paid' are the same. The important information is that account holders are not charged interest/do not pay interest, i.e. it is an account 'sin intereses'.

Proposed translations

+2
17 hrs
Selected

Legal Entity /Non-interest bearing

There is a difference between a loan account, which could technically be "interest free" (no interest charged on it) and a deposit account on which no interest is paid, as in the case of this Banorte account, which would normally be known as a "non-interest-bearing account"

Non-Interest-Bearing Account Sample Clauses | Law Insiderhttps://www.lawinsider.com › clause › non-interest-bear...
Non-Interest-Bearing Account. Recipients must open a non-interest-bearing checking account in the name of the municipality for the electronic deposit of NYS .
Peer comment(s):
agree Luis M. Sosa
2 hrs
Gracias, Luis, y que tengas un muy buen año!
agree philgoddard : Good point - I hadn't thought of this.
3 hrs
Thank you!, Phil! Have a great 2022.
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Thanks to all! I like both options (interest free and non-interest bearing). I'll choose "non-interest bearing" because I think this is closest to the original meaning for this particular document. I know, @Helena - those were the days, right??!!"
+1
18 mins

Legal entity / interest free

https://www.proz.com/kudoz/spanish-to-english/law-general/45...

https://www.proz.com/kudoz/english-to-spanish/art-literary/1...

Autorización para:
Persona Física (PF)
Persona Física con Actividad Empresarial (PFAE)
Persona Moral (PM)

http://finactiv.com.mx/wp/wp-content/uploads/2015/07/AUTORIZ...

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Note added at 18 mins (2022-01-03 18:45:26 GMT)
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In Spanish it stands for 'Persona Moral/Sin intereses'

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Note added at 20 mins (2022-01-03 18:47:04 GMT)
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persona jurídica,
persona moral (legal: organización) - legal entity

https://www.wordreference.com/es/en/translation.asp?spen=per...

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Note added at 22 mins (2022-01-03 18:48:31 GMT)
--------------------------------------------------

PFAE y PM
PAGO POR TRANSACCIÓN
SIN INTERESES

https://www.banorte.com/wps/wcm/connect/empresas/82998811-d1...
Peer comment(s):
agree Richard Cadena : Happy and healthy 2022
5 hrs
Thank you, Richard. I also wish you all the best for 2022 (and subsequent years!)
Something went wrong...
48 mins

economics

It means Monthly installments with no interst.
Example sentence:

I paid my credit car for a iPhone with 8-month installments with zero interest.

Something went wrong...
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