demand deposit

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Demand Deposit

Funds in a bank account that may be withdrawn on demand of the customer. Most demand deposits are in checking accounts and savings accounts, because funds in these accounts are available to the customer at any time (unless they are under a check hold). Under the Expedited Funds Availability Act of 1987, banks in the United States must grant availability to demand deposits within a certain number of days.

demand deposit

A checking account balance held at a financial institution. Because demand deposits constitute one of the most important segments of the nation's money supply, the financial community closely monitors their size. Compare time deposit. See also M1.

demand deposit

see BANK DEPOSIT, COMMERCIAL BANK.
References in periodicals archive ?
In other such cases reported from the NCR, the police have found that the fake demand drafts issued were made in the name of Bank of India's Faridabad branch.
HYDERABAD -- The Director Admissions Liaquat University of Medical and Health Sciences (LUMHS), Jamshoro Tuesday advised those who appeared in preentry test for admissions to 1st Year MBBS/BDS Programmes under categories of UEAP/UDP (Self Finance) but could not succeed, to submit applications on plain paper along with photocopy of Pay Order/ Demand Draft in favour of Vice Chancellor of the University from November, 3 to 14, 2014 at the Directorate of Admissions.
Widely used in the credit and collections industry, demand drafts are now used by a growing number of companies in other industries, including Pacific Bell and the Oakland Tribune, and The Flower Company Nationwide, a California-based flower retailer.
This agreement is the latest advance into the technological arena for NBDS and Payments Delivered, which currently offers a full spectrum of commerce solutions for businesses, ranging from paper bank demand drafts to point-of-sale check conversion to electronic transactions.