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Velocity of money

Number of times balances turn over in the economy. It attempts to measure national income against spending habits by showing the relationship between money and spending on goods and services. This is typically expresses as the ratio of gross national product to the amount of money available for spending. An increase in the velocity means money is being held, on average for shorter periods of time, indicating a growing demand for money and general economic expansion. A larger velocity of money also indicates a higher number of consumer transactions. A decrease indicates money is being spent less rapidly and consumers are more inclined to hold on to their dollars (in savings) than spending it.

 

Verified status

The status an applicant is in once they have successfully completed the registration process, whether automatically or following a manual review period and approved by the bank of record. Verified members are the only ones eligible to complete transactions in Helix.