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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 depository bank (U.S. usage) or depositary bank (predominantly EU usage) is a specialist financial entity which, depending on jurisdiction, facilitates investment in securities markets. Depository banks in the United States
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. In accounting terms, a ...
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 ...
Colloquially, a depository institution is a financial institution in the United States (such as a savings bank, commercial bank, savings and loan associations, or credit unions) that is legally allowed to accept monetary deposits from consumers.
The Certificate of Deposit Account Registry Service (CDARS), was a US for-profit service that broke up large deposits (from individuals, companies, nonprofits, public funds, etc.) and placed them across a network of more than 3000 banks and savings associations around the United States.
A traditional or fixed-rate CD is a deposit account that provides a fixed interest rate for a specific term that can range from a few months to five years or more. Traditional CDs are the most ...
FDIC deposit insurance covers deposit accounts, which, by the FDIC definition, include: checking accounts and negotiable order of withdrawal (NOW) accounts (interest-bearing checking accounts with a hold option) savings accounts and money market deposit accounts (MMDAs, i.e., higher-interest savings accounts subject to check-writing restrictions)