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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 accounts, current accounts or any of several other types of accounts explained below.
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 The deposit is a credit for the party (individual or organization) who placed it, and it may be taken back (withdrawn) in accordance with the terms agreed at time of deposit, transferred to some other party, or used for a purchase at a later date.
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 than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. The term fixed deposit is most commonly used in India and the ...
The deposit account is a liability of the bank and an asset of the depositor (the account holder). On the other hand, a bank can lend some or all of the money it has on deposit to third parties. Such accounts, generally called loan or credit accounts, are subject to similar but reverse principles of a deposit account.
Deposits made to your bank account at retailers through the Green Dot Network may incur a fee of up to $4.95 per transaction. What are some other ways to deposit money at online banks?
But even if the bank doesn’t charge a fee, the retailer can charge as much as $5.95 per transaction. Banks like Discover allow fee-free cash deposits through deals with Walmart. But it ...