The Balance of Payments (BoP) is a comprehensive account setting out a country's economic transactions with the rest of the world, divided into key sub-accounts such as the current account and the capital account.
A collection account is a specific type of bank account opened with the purpose of reducing bank float for remittances from specific customers or groups of customers, often those located abroad or who remit payments in a foreign currency.
Eurodollars are U.S. dollars held as deposits in foreign banks, mainly in Europe, and are commonly used to settle international transactions.
Earnings from international transactions involving services such as insurance, banking, shipping, tourism, and accountancy.
