What is a deposit account Deposit account | Define Deposit account at pay.slovologos.info
Make haste, say they can put him down to my deposit account. And then if the bank really did lock up his deposit accountand his securities became unsaleable! It what is a deposit account a sort of deposit account wherein one saves up bits and fragments of his life that would otherwise be lost to him. When he borrows, he gets a "credit" on his deposit accountbut makes no "deposit" that would get into Kinley's figures. The deposit account itself represents investment,—by trustees on behalf of the depositors.
But, on writing up our books that night, we found that our deposit account had diminished about sixty-five thousand dollars.
In the first place, he would receive no interest upon his deposit account. A deposit accountwhether at call or on fixed notice, does not deposit account s. Fortunately, I had my chequebook read article me, or otherwise my deposit account would have been overdrawn by a thousand. The what is a deposit account consists in supposing that what is a deposit account man's deposit account at any time varies with the amount of money in his possession.
The Best Internet Slang. Brit a bank account that earns interest and usually requires notice of withdrawal. Examples from the Web for deposit account Expand. Britling Sees It Through H. The Value of Money Benjamin M. Charities and the Commons: The Memoirs of General W. Sherman, Complete William T. Punch, or the London Charivari, Vol. Freaky 60s Slang Explained. How to Name Your Beard. Learn the correct uses of these two commonly confused homophones.
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What is a deposit account
A deposit account is a savings accountcurrent account or any other type of bank account that allows money to be deposited and withdrawn by the account holder. These transactions are recorded on the bank's books, and the resulting balance is recorded as a liability for the bank and represents the amount owed by the bank to the customer. Some banks may charge a fee for this service, while others this web page pay the customer interest on the funds deposited.
In banking, the verbs "deposit" and "withdrawal" mean a customer paying money into, and taking money out of, an account. From a legal and financial accounting standpoint, what is a deposit account noun "deposit" is used by the banking industry in financial statements to describe the liability owed by the bank to its depositor, and not the funds that the bank holds as a result of the deposit, which are shown as assets of the bank.
Subject to restrictions imposed by the terms and conditions of the account, the account holder customer retains the right to have the deposited money repaid on demand.
The terms and conditions may specify the methods by what is a deposit account a customer may move money into or out of the account, e. See double-entry bookkeeping system. These "physical" reserve восемь online slotmachines все may be held as deposits at the relevant central bank and will receive interest as http://pay.slovologos.info/online-casino-echtgeld-deutschland.php monetary policy.
Typically, a bank will not hold the entire sum in reserve, but will loan most of the money out to other clients, in a process known as fractional-reserve banking.
This allows providers to what is a deposit account interest on the asset what is a deposit account hence to pay out interest on deposits. By transferring the ownership of deposits from one party to another, banks can avoid using physical cash as a method of payment. Commercial bank deposits account for most of the money supply in use today. For example, if a bank in the United States makes a loan to a customer by depositing the loan proceeds in that customer's what is a deposit account account, the bank typically records this event by debiting an asset account on the bank's books called loans receivable or some similar name and credits the deposit liability or checking account of the customer on the bank's books.
From an economic standpoint, the bank has essentially created economic money check this out not legal tender.
The customer's checking account balance has no dollar bills in it, as a demand deposit account is simply a liability owed by the bank to its customer. In this way, commercial banks are allowed to increase the money supply without printing currency, or legal tender. Banking operates under an intricate system of customs and conventions developed over many centuries. It is also normally subject to statutory regulations, such as reserve requirements developed to reduce the risk of failure of the bank.
It may also have the purpose of reducing the extent of depositor losses in the event of bank failure. To reduce the risk to depositors of a bank failure, some bank deposits may also be secured by a deposit insurance scheme, or be protected by a government guarantee scheme. From Wikipedia, what is a deposit account free encyclopedia.
The examples and perspective in this article may not represent a worldwide view of the subject. You may improve this articlediscuss the issue on the talk pageor create a new articleas appropriate. April What is a deposit account how and when to remove this template message. For other uses, see Deposit disambiguation. Automatic teller machine Bank regulation Loan Money creation Anonymous banking Ethical banking Fractional reserve banking Islamic banking Private banking.
Banking terms Automatic teller machine Bank regulation Loan Money creation. Anonymous banking Ethical banking Fractional reserve banking Islamic click here Private banking. Bonds Corporate Debenture Government Municipal.
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Define deposit account: a bank account in which people keep money that they want to save: savings account.
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Define deposit account. deposit account synonyms, deposit account pronunciation, deposit account translation, English dictionary definition of deposit account. n Brit.