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Deposit account

Index Deposit account

A deposit account is a savings account, current account or any other type of bank account that allows money to be deposited and withdrawn by the account holder. [1]

26 relations: Asset, Bank account, Certificate of deposit, Cheque, Demand deposit, Deposit insurance, Double-entry bookkeeping system, EFTPOS, English in the Commonwealth of Nations, Fractional-reserve banking, Interest, Legal tender, Liability (financial accounting), Loan guarantee, Monetary policy, Money, Money market, Money market account, Money supply, Negotiable order of withdrawal account, Reserve requirement, Savings account, Sweep account, Time deposit, Transaction account, United States.

Asset

In financial accounting, an asset is an economic resource.

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Bank account

A bank account is a financial account maintained by a bank for a customer.

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Certificate of deposit

A certificate of deposit (CD) is a time deposit, a financial product commonly sold in the United States and elsewhere by banks, thrift institutions, and credit unions.

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Cheque

A cheque, or check (American English; see spelling differences), is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued.

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Demand deposit

Demand deposits, bank money or scriptural money are funds held in demand deposit accounts in commercial banks.

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Deposit insurance

Explicit deposit insurance is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due.

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Double-entry bookkeeping system

Double-entry bookkeeping, in accounting, is a system of bookkeeping so named because every entry to an account requires a corresponding and opposite entry to a different account.

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EFTPOS

Electronic funds transfer at point of sale (EFTPOS) is an electronic payment system involving electronic funds transfers based on the use of payment cards, such as debit or credit cards, at payment terminals located at points of sale.

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English in the Commonwealth of Nations

The use of the English language in most member countries of the Commonwealth of Nations was inherited from British colonisation.

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Fractional-reserve banking

Fractional-reserve banking is the practice whereby a bank accepts deposits, makes loans or investments, but is required to hold reserves equal to only a fraction of its deposit liabilities.

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Interest

Interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (i.e., the amount borrowed), at a particular rate.

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Legal tender

Legal tender is a medium of payment recognized by a legal system to be valid for meeting a financial obligation.

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Liability (financial accounting)

In financial accounting, a liability is defined as the future sacrifices of economic benefits that the entity is obliged to make to other entities as a result of past transactions or other past events, the settlement of which may result in the transfer or use of assets, provision of services or other yielding of economic benefits in the future.

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Loan guarantee

A loan guarantee, in finance, is a promise by one party (the guarantor) to assume the debt obligation of a borrower if that borrower defaults.

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Monetary policy

Monetary policy is the process by which the monetary authority of a country, typically the central bank or currency board, controls either the cost of very short-term borrowing or the monetary base, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.

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Money

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context.

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Money market

As money became a commodity, the money market became a component of the financial markets for assets involved in short-term borrowing, lending, buying and selling with original maturities of one year or less.

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Money market account

A money market account (MMA) or money market deposit account (MMDA) is a deposit account that pays interest based on current interest rates in the money markets.

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Money supply

In economics, the money supply (or money stock) is the total value of monetary assets available in an economy at a specific time.

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Negotiable order of withdrawal account

In the United States, a negotiable order of withdrawal account (NOW account) is a deposit account that pays interest, on which an unlimited number of checks may be written.

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Reserve requirement

The reserve requirement (or cash reserve ratio) is a central bank regulation employed by most, but not all, of the world's central banks, that sets the minimum amount of reserves that must be held by a commercial bank.

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Savings account

A savings account is a deposit account held at a retail bank that pays interest but cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing a cheque).

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Sweep account

A sweep account is an account set up at a bank or other financial institution where the funds are automatically managed between a primary cash account and secondary investment accounts.

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Time deposit

A time deposit or term deposit (also known as a certificate of deposit in the United States) is a deposit with a specified period of maturity and earns interest.

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Transaction account

A transaction account, checking account, current account, demand deposit account, or share draft account (at credit unions) is a deposit account held at a bank or other financial institution.

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United States

The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.

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Redirects here:

Bank deposit, Bank deposits, Deposit & Withdrawal, Deposit (bank), Deposit accounts, Depositor, Depositors, Deposits.

References

[1] https://en.wikipedia.org/wiki/Deposit_account

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