demand deposit account


Also found in: Acronyms.

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 Contrast with a certificate of deposit, in which one must pay a penalty if the money is withdrawn early.

References in periodicals archive ?
New regulatory requirements and consumer behavior changes are challenging the traditional profitability model of demand deposit accounts," said Dennis Dixon, president of Zoot Enterprises.
Morgan Treasury Services today announced that it has reached significant milestones in the deployment of its new platforms for liquidity and international demand deposit account (iDDA) management.
banks as an extension of their demand deposit account (DDA) service portfolio.
For the quarter, commercial deposits in the Baltimore metropolitan / Maryland area grew 8%, and commercial deposits in the Washington metropolitan and Virginia markets increased 5% over the second quarter of 2004, due to growth in savings and demand deposit account categories.
Through its Community Payments Service, Bling Nation enables financial institutions to more profitably support payments between their local demand deposit account (DDA) customers and their merchant customers by bypassing the current global debit payment model with an efficient, cost-effective and local payment network.
O'Brien said he investigated the impact of newer features, such as funds transfers expanded beyond basic demand deposit accounts, bill payment, prepaid and transit cards, mini-statements, mobile phone top-up, and a convergence between ATMs and mobile devices.
However, the agreement to restrict US dollar clearing services for some Hong Kong and UAE retail business clients, and to require the approval of the DFS before opening any new US dollar demand deposit accounts at SC's New York branch, may necessitate some change to its medium-term business plans.
Chen Yi-tuan, deputy director of the economic research department of the CBC, pointed out that it remains to be seen whether local people will transfer their funds from demand deposit accounts to time deposit accounts, due to the issue of the stock transaction gains tax.
Originally enacted in 1933, Regulation Q prohibited financial institutions from paying interest on commercial demand deposit accounts.
Profits from demand deposit accounts used by banks for conducting interbank transactions will be big, he said, unveiling an estimate that a 10 basis-point rise of the three-month TIBOR will be equal to an increase in such profits of ''slightly above 10 billion yen.
Some sweep investment customers removed their sweeps and chose to leave excess dollars in bank demand deposit accounts to get earnings credit or parked excess dollars in non-sweep, FDIC-insured money market savings accounts.