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An Act to facilitate the implementation of monetary policy, to provide for the gradual elimination of all limitations on the rates of interest which are payable on deposits and accounts, and to authorize interest-bearing transaction accounts, and for other purposes. Nicknames: Consumer Checking Account Equity Act of 1979: Enacted by
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.
Regulation D was known directly to the public for its former provision that limited withdrawals or outgoing transfers from a savings or money market account. No more than six such transactions per statement period could be made from an account by various "convenient" methods, which included checks, debit card payments, and automatic transactions such as automated clearing house transfers or ...
Demand deposit account definition. A demand deposit account is another term for a checking, savings or money market account. Money in these accounts is highly liquid, and you’ll be able to ...
Section 326 of the USA PATRIOT Act allows financial institutions to place limits on new accounts until the account holder's identity has been verified. Office of Foreign Assets Control (OFAC) sanctions apply to all U.S. entities including banks. The FFIEC provides guidelines to financial regulators for verifying compliance with the sanctions.
A certificate of deposit — or CD — is a type of deposit or savings account that allows you to grow your savings at higher rates of return than a traditional savings account.
A deposit is the act of placing cash (or cash equivalent) with some entity, most commonly with a financial institution, such as a bank.. The deposit is a credit for the party (individual or organization) who placed it, and it may be taken back (withdrawn) in accordance with the terms agreed at time of deposit, transferred to some other party, or used for a purchase at a later date.
3. Open a joint account. Joint accounts are a useful option for couples or business partners, because the FDIC treats each joint account holder as a distinct person in the context of deposit ...