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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.
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 ...
Before you try to deposit anything other than a personal, business, cashier’s or government check drawn from a U.S. bank, check to make sure your bank’s mobile deposit feature allows it.
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 brokered certificate of deposit is a CD account issued by banks or credit unions but sold through a brokerage firm or financial advisor, rather than from the bank itself. Brokerage firms work ...
Money in a savings account is federally insured up to $250,000 per account owner, per ownership category, when a bank or credit union is insured by the Federal Deposit Insurance Corp. (FDIC) or ...