which is an example of a demand account?

Quesiton : which is an example of a demand account?

Answer: checking account

which is an example of a demand account? How can the answer be improved? Demand account refers to a service provided by the bank that allows people to withdraw the fund that they've previously stored in the bank. Through checking accounts you can made a check payments in transaction with other people. A demand deposit is a normal checking or savings account at a bank. Demand deposit accounts can be drawn against by writing a check orwithdrawing cash. Tue May 17 2016 00:00:00 GMT+0530 (IST) · Question and answer. Which is an example of a demand account ? savings account investment account credit account checking account . Checking account is an example of a demand account . Checking accounts are an example of demand deposits. They allow the depositor to withdraw funds at any time and there is no limit to the number of transactions a depositor can conduct with these accounts (although a bank may charge a fee for each transaction). (Currency demand deposits other checkable deposits traveler's checks) M2 (near money): Consists of all t he assets in M1 plus several additional assets. These additional M2 funds cannot be used as cash directly but can be converted to cash fairly easily. Demand account Definition A demand account (or demand deposit) is a deposit account held at a bank or other financial institution the funds deposited in which are payable on demand . The primary purpose of demand accounts is to facilitate cashless payments by means of check bank draft direct debit electronic funds transfer etc. Wed Nov 26 2003 00:00:00 GMT+0530 (IST) · A demand deposit consists of funds held in an account from which deposited funds can be withdrawn at any time from the depository institution such as a checking or savings account accessible by a teller ATM or online banking. In contrast a term deposit is a type of account that cannot be accessed for a predetermined period of time. Most demand deposit accounts ( DDAs ) let you withdraw your money without advance notice but the term also includes accounts that require six days or less of advance notice. NOW accounts are essentially checking accounts where you earn interest on the money you have deposited. With a NOW account the bank or credit union has... Demand Deposit Example : For example a Demand Deposit was once thought applicable only to checking accounts . Nevertheless because of the immediate availability of funds deposited in savings accounts and money market accounts these are now often also considered Demand Deposits.