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deposit account

   Also found in: Dictionary/thesaurus, Legal, Acronyms, Wikipedia, Hutchinson 0.04 sec.

deposit account

Either 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.
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Depository institutions sometimes provide overdraft services to deposit account customers as an alternative to a traditional overdraft line of credit.
Final amendments to Regulation DD by Federal Reserve Bulletin
The new program is called the Certificate of Deposit Account Registry Service - known as CDARS.
BIG DEPOSITORS GET BANK'S HELP COMMUNITY MANAGES INSURED FUNDS by Daily News (Los Angeles, CA)
On receiving the $89 million headlease prepayment, FM deposits $54 million into a deposit account with an affiliate of BK1 and $6 million into a deposit account with an affiliate of BK2.
IRS Examines Effects of LILO Transactions by Fiore, Nicholas J. / The Tax Adviser
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