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demand deposit account

   Also found in: Acronyms, Wikipedia 0.01 sec.
demand deposit account

A checking account. One may demand payment of the money on deposit without penalty. Contrast with a certificate of deposit, in which one must pay a penalty if the money is withdrawn early.



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For example, customers who come into a branch location to open savings or demand deposit accounts (DDA) have a high propensity to accept an instantly prescreened credit product that is offered to them in real time, says Lindeen.
s bank to verify that the cardholder has available credit or funds in his demand deposit account to cover the transaction.
Consequently, numerous individuals and firms have moved money from time deposits into demand deposit accounts.
 
 
 
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