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A transaction account, also called a checking account, chequing account, current account, demand deposit account, or share account at credit unions, is a deposit account or bank account held at a bank or other financial institution. It is available to the account owner "on demand" and is available for frequent and immediate access by the ...
A transaction account is a bank account that provides individuals with immediate access to money. Transaction accounts have full liquidity to pay bills and make everyday purchases.
In the United States, transaction deposit is a term used by the Federal Reserve for checkable deposits and other accounts that can be used directly as cash without withdrawal limits or restrictions. Such demand deposits are subject to reserve requirements imposed by the central bank that require the bank to keep reserves at the central bank.
A bank account is a financial account maintained by a bank or other financial institution in which the financial transactions between the bank and a customer are recorded.
Here are some examples of transactions on money market accounts and savings accounts that were limited under Reg. D: Withdrawals by official bank check. Outgoing wire transfers.
A checking account is fundamental for making day-to-day financial transactions, while a savings account is a good place for funds set aside for emergencies, or financial goals such as a vacation ...