Category: Account


What is a deposit account

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what is a deposit account

A deposit account is an account at a bank or credit union that allows you to safely and easily manage your money. Deposit accounts fall into. In the world of finance, a deposit may refer to a sum of money kept or placed in a bank account, typically to gain interest. It also may refer to a portion of funds that. deposit account | Business English · Examples of deposit account · Translations of deposit account · Browse · Test your vocabulary with our fun.

What is a deposit account -

Demand deposit: Your checking account's deposits are available "on demand," which is why they are sometimes called demand deposit accounts or current accounts. For example, brokerage firms often require traders to make an initial margin deposit in order to enter into a new futures contract. Certificate of deposit CD : A CD is a timed deposit you make at the bank for a specified time period and for a predetermined amount of interest. The other definition of deposit refers to when a portion of funds is used as a security or collateral for the delivery of a good. Using this definition, deposit refers to the money an investor transfers into a savings or checking account held at a bank or credit union. what is a deposit account

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