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Deposit account information


A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below.

Transactions on deposit accounts are recorded in a bank's books, and the resulting balance is recorded as a liability of the bank and represents an amount owed by the bank to the customer. In other words, the banker-customer (depositor) relationship is one of debtor-creditor. Some banks charge fees for transactions on a customer's account. Additionally, some banks pay customers interest on their account balances.

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Deposit account

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A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings...

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Transaction account

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A transaction account, also called a checking account, chequing account, current account, demand deposit account, or share draft account at credit unions...

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Savings account

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investment accounts, and money market accounts. Some savings accounts also have other special requirements, such as a minimum initial deposit, deposits made...

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Bank account

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account it offers, which are classified in commonly understood types, such as deposit accounts, credit card accounts, current accounts, loan accounts...

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Deposit

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(village), New York Deposit account, a bank account that allows money to be deposited and withdrawn by the account holder Demand deposit, the funds held in...

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Account

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up account in Wiktionary, the free dictionary. Account (abbreviated a/c) may refer to: Account (bookkeeping) A report A bank account Deposit account Personal...

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Money market account

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A money market account (MMA) or money market deposit account (MMDA) is a deposit account that pays interest based on current interest rates in the money...

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Recurring deposit

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into their recurring deposit account and earn interest at the rate applicable to fixed deposits. It is similar to making fixed deposits of a certain amount...

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Bank

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Savings account Recurring deposit account Fixed deposit account Money market account Certificate of deposit (CD) Individual retirement account (IRA) Mortgage...

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Fixed deposit

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A fixed deposit (FD) is a tenured deposit account provided by banks or non-bank financial institutions which provides investors a higher rate of interest...

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Time deposit

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A time deposit or term deposit (also known as a certificate of deposit in the United States, and as a guaranteed investment certificate in Canada) is...

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Federal Deposit Insurance Corporation

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contents of safe deposit boxes. Even though the word deposit appears in the name, under federal law a safe deposit box is not a deposit account – it is merely...

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Demand deposit

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Demand deposits or checkbook money are funds held in demand accounts in commercial banks. These account balances are usually considered money and form...

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Certificate of deposit

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deposit (CD) is a time deposit sold by banks, thrift institutions, and credit unions in the United States. CDs typically differ from savings accounts...

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Saving

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Methods of saving include putting money in, for example, a deposit account, a pension account, an investment fund, or kept as cash. In terms of personal...

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Passbook

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transactions on a deposit account. Traditionally, a passbook was used for accounts with a low transaction volume, such as savings accounts. A bank teller...

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Certificate of Deposit Account Registry Service

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The Certificate of Deposit Account Registry Service (CDARS), was a US for-profit service that broke up large deposits (from individuals, companies, nonprofits...

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Deposit slip

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Checking Account Getting Started Guide, page 4. Hands on Banking Program for Teens, Savings and Checking Guide, Lesson 5: Making a Savings Account Deposit. Eaton...

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Negotiable order of withdrawal account

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United States, a negotiable order of withdrawal account (NOW account) is an interest-paying deposit account on which an unlimited number of checks may be...

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Direct deposit

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A direct deposit (or direct credit), in banking, is a deposit of money by a payer directly into a payee's bank account. Direct deposits are most commonly...

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Commercial bank

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various types of deposits from the public especially from its clients, including saving account deposits and fixed deposits. These deposits are returned whenever...

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Bank regulation in the United States

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deposit accounts. A "demand deposit" account includes many, but not all checking accounts, and does not include Negotiable Order of Withdrawal accounts (NOW...

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New Zealand bank account number

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New Zealand bank account numbers in NZD follow a standardised format of 16 digits: a prefix representing the bank and branch (six digits), otherwise known...

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Flexi Fixed Deposits

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Hence, the Flexi Fixed deposit scheme has two components: a savings and current account component, and a fixed deposit account component. Reverse sweep...

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City ledger

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exception is the advance deposit account discussed below, which is an account payable). Included in the city ledger are accounts belonging to various companies...

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Insured Cash Sweep

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Certificate of Deposit Account Registry Service or CDARS service, and the Insured Network Deposit or IND service. The CDARS service allocates deposits in a way...

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Deposit insurance

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Deposit insurance or deposit protection is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by...

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