Deposit Account

A Deposit Account is a bank account that allows the holder to withdraw and deposit funds.

• Example(s)
  • Savings Account.
  • Transactional Account.
• Counter-Example(s)
  • Paypal Account.
  • Email Account.
• See: Bank, Bank Transaction, Bank Withdrawal Transaction, Bank Deposit Transaction, Interest, Loan.

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References

2016

• (Wikipedia, 2016) ⇒ http://en.wikipedia.org/wiki/Deposit_Account
  • A deposit account is a savings account, current account or any other type of bank account that allows money to be deposited and withdrawn by the account holder. These transactions are recorded on the bank's books, and the resulting balance is recorded as a liability for the bank and represents the amount owed by the bank to the customer. Some banks may charge a fee for this service, while others may pay the customer interest on the funds deposited.

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