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deposit account |
Also found in: Wikipedia, Hutchinson | 0.01 sec. |
deposit accountEither of two basic bank deposit accounts. The demand deposit is payable on demand (see check). Theoretically, the time deposit is payable only after a fixed interval of time; in practice, withdrawals from most small time-deposit accounts are paid on demand. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The Supreme Court of Argentina ruled unconstitutional the government's devaluation of bank deposits in January 2002, a decision which caused the Argentine peso to lose 70% of its value. Probably most investors know that unclaimed bank deposits eventually become state property. For example, the Service tracks funds from known sources to deposits made to a taxpayer's bank accounts, rather than analyzing bank deposits to identify unreported income from unknown sources. |
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