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Transaction account

Index 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. [1]

67 relations: Accounting, Ad hoc, Amsterdam, ATM card, Automated teller machine, BACS, Bank, Bank statement, Banknote, Boston, Canada, Cash and cash equivalents, CHAPS, Cheque, ChexSystems, Clearing (finance), Coin, Collection item, Credit union, Debit card, Demand, Demand draft, Deposit account, Direct bank, Direct debit, Electronic funds transfer, England, Error account, Faster Payments Service, Federal Reserve System, Financial adviser, Financial institution, Financial transaction, First Data, Flat rate, Flexible mortgage, Giro, Holland, Hong Kong, India, Interac e-Transfer, Interbank network, Mail, Market liquidity, Midland Bank, Mobile phone, Money, Money order, National Electronic Funds Transfer, Negotiable order of withdrawal account, ..., Non-sufficient funds, North America, Old age, Online banking, Overdraft, Passbook, Personal account, Real-time gross settlement, Regulation Q, Savings account, Standing order (banking), Student, Telephone, Transaction deposit, United Kingdom, United States, Youth. Expand index (17 more) »


Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations.

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Ad hoc

Ad hoc is a Latin phrase meaning literally "for this".

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Amsterdam is the capital and most populous municipality of the Netherlands.

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ATM card

An ATM card is a payment card or dedicated payment card le card issued by a financial institution which enables a customer to access automated teller machines (ATMs).

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Automated teller machine

An automated teller machine (ATM) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, transfer funds, or obtaining account information, at any time and without the need for direct interaction with bank staff.

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Bacs Payment Schemes Limited (Bacs), previously known as Bankers' Automated Clearing Services, became a wholly owned subsidiary of the new home for UK retail payments, the New Payment System Operator (NPSO) on 1 May 2018.

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A bank is a financial institution that accepts deposits from the public and creates credit.

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Bank statement

A bank statement or account statement is a summary of financial transactions which have occurred over a given period on a bank account held by a person or business with a financial institution.

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A banknote (often known as a bill, paper money, or simply a note) is a type of negotiable promissory note, made by a bank, payable to the bearer on demand.

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Boston is the capital city and most populous municipality of the Commonwealth of Massachusetts in the United States.

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Canada is a country located in the northern part of North America.

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Cash and cash equivalents

Cash and cash equivalents (CCE) are the most liquid current assets found on a business's balance sheet.

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The Clearing House Automated Payment System or CHAPS is a British payment system, which offers same-day sterling fund transfers.

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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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ChexSystems is a check verification service and consumer credit reporting agency owned by the eFunds subsidiary of Fidelity National Information Services.

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Clearing (finance)

In banking and finance, clearing denotes all activities from the time a commitment is made for a transaction until it is settled.

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A coin is a small, flat, (usually) round piece of metal or plastic used primarily as a medium of exchange or legal tender.

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Collection item

A collection item (also called a noncash item) is an item presented to a bank for deposit that the bank will not, under its procedures, provisionally credit to the depositor's account or which the bank cannot (due to provisions or law or regulation) provisionally credit to a depositor's account.

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Credit union

A credit union is a member-owned financial cooperative, controlled by its members and operated on the principle of people helping people, providing its members credit at competitive rates as well as other financial services.

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Debit card

A debit card (also known as a bank card, plastic card or check card) is a plastic payment card that can be used instead of cash when making purchases.

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In economics, demand is the quantities of a commodity or a service that people are willing and able to buy at various prices, over a given period of time.

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Demand draft

A demand draft is a negotiable instrument similar to a bill of exchange.

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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.

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Direct bank

A direct bank (sometimes called a branchless bank, virtual bank or an internet-only bank) is a bank without any branch network that offers its services remotely via online banking and telephone banking and may also provide access via ATMs (often through interbank network alliances), mail and mobile.

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Direct debit

A direct debit or direct withdrawal is a financial transaction in which one person withdraws funds from another person's bank account.

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Electronic funds transfer

Electronic funds transfer (EFT) is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems, without the direct intervention of bank staff.

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England is a country that is part of the United Kingdom.

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Error account

An error account is a type of account used for storing compensation for errors in trading, a transaction that is not posted in a timely manner because of inconsistencies, such as an incorrect account or routing numbers to the wrong name on the account, producing a claim that needs to be resolved as soon as possible so payments can be made.

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Faster Payments Service

Faster Payments Service (FPS) is a UK banking initiative to reduce payment times between different banks' customer accounts from the three working days that transfers take using the long-established BACS system, to typically a few seconds.

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Federal Reserve System

The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America.

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Financial adviser

A financial adviser is a professional who suggests and renders financial services to clients based on their financial situation.

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Financial institution

Financial institutions, otherwise known as banking institutions, are corporations which provide services as intermediaries of financial markets.

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Financial transaction

A financial transaction is an agreement, or communication, carried out between a buyer and a seller to exchange an asset for payment.

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First Data

First Data Corporation (NYSE: FDC) is a financial services company headquartered in Atlanta, Georgia, United States.

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Flat rate

A flat fee, also referred to as a flat rate or a linear rate, refers to a pricing structure that charges a single fixed fee for a service, regardless of usage.

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Flexible mortgage

The term flexible mortgage refers to a residential mortgage loan that offers flexibility in the requirements to make monthly repayments.

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A giro, or giro transfer, is a payment transfer from one bank account to another bank account and instigated by the payer, not the payee.

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Holland is a region and former province on the western coast of the Netherlands.

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Hong Kong

Hong Kong (Chinese: 香港), officially the Hong Kong Special Administrative Region of the People's Republic of China, is an autonomous territory of China on the eastern side of the Pearl River estuary in East Asia.

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India (IAST), also called the Republic of India (IAST), is a country in South Asia.

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Interac e-Transfer

Interac e-Transfer (formerly Interac Email Money Transfer) is a funds transfer service between personal and business accounts at participating Canadian banks and other financial institutions, offered through Interac Corporation.

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Interbank network

An interbank network, also known as an ATM consortium or ATM network, is a computer network that enables ATM cards issued by a financial institution that is a member of the network to be used to perform ATM transactions through ATMs that belong to another member of the network.

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The mail or post is a system for physically transporting postcards, letters, and parcels.

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Market liquidity

In business, economics or investment, market liquidity is a market's feature whereby an individual or firm can quickly purchase or sell an asset without causing a drastic change in the asset's price.

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Midland Bank

Midland Bank Plc was one of the Big Four banking groups in the United Kingdom for most of the 20th century.

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Mobile phone

A mobile phone, known as a cell phone in North America, is a portable telephone that can make and receive calls over a radio frequency link while the user is moving within a telephone service area.

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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 order

A money order is a payment order for a pre-specified amount of money.

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National Electronic Funds Transfer

National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the Reserve Bank of India (RBI).

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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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Non-sufficient funds

Non-sufficient funds (NSF) is a term used in the banking industry to indicate that a cheque cannot be honored because insufficient funds are available in the account on which the instrument was drawn.

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North America

North America is a continent entirely within the Northern Hemisphere and almost all within the Western Hemisphere; it is also considered by some to be a northern subcontinent of the Americas.

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Old age

Old age refers to ages nearing or surpassing the life expectancy of human beings, and is thus the end of the human life cycle.

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Online banking

Online banking, also known as internet banking, it is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website.

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An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero.

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A passbook or bankbook is a paper book used to record bank, or building society transactions on a deposit account.

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Personal account

A personal account is an account for use by an individual for that person's own needs.

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Real-time gross settlement

Real-time gross settlement systems are specialist funds transfer systems where the transfer of money or securities takes place from one bank to another on a "real time" and on a "gross" basis.

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Regulation Q

Regulation Q (12 CFR) is a Federal Reserve regulation which sets out capital requirements for banks in the United States.

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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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Standing order (banking)

A standing order (or a standing instruction) is an instruction a bank account holder ("the payer") gives to his or her bank to pay a set amount at regular intervals to another's ("the payee's") account.

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A student is a learner or someone who attends an educational institution.

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A telephone, or phone, is a telecommunications device that permits two or more users to conduct a conversation when they are too far apart to be heard directly.

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Transaction deposit

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.

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United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.

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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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Youth is the time of life when one is young, and often means the time between childhood and adulthood (maturity).

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Business account, Checkable deposit, Checkable deposits, Checking Accounts, Checking Deposits, Checking account, Checking accounts, Checking deposits, Chequing account, Commercial account, Current account (banking), Current accounts, Demand Account, Demand Deposits, Demand account, Demand deposit account, High Yield Checking, High yield checking account, High-yield checking account, High-yield checking accounts, Other Checkable Deposits, Reward Checking, Share draft, Transactional account.


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

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