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Bank Account
(redirected from deposit account)

    Also found in: Dictionary/thesaurus, Legal, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
Bank Account
An agreement between a bank and a person or institution, whereby the bank agrees to hold money and/or other assets on behalf of the other party. What the holder may do with those assets depends upon the nature of the account. In a checking account or a savings account, the bank holds money and pays the client a certain percentage in interest. This payment gives the bank the right to lend the money to other clients or invest it within the confines of law and banking regulations. However, the client has the right to withdraw the total amount of money on demand.
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If an individual, couple, or other entity has a checking, savings, or other form of deposit account at the same financial institution where they have a credit card, auto loan, mortgage, other debt account, that individual or entity has what can be considered a "banking conflict".
Right of Offset Protect Your Money and Assets by Ron Capron / Finance and Investment community
99 per cent, reduced interest rates on auto financing, and overdraft up to 90 per cent from the fixed deposit account.
Emirates NBD fixed-deposit promotion by Gulf News (United Arab Emirates)
One in five Britons say they have given up saving because the returns paid on deposit accounts are now so low, a survey showed today.
YOUR MONEY: No faith in saving; SAVING by The Journal (Newcastle, England)
 
 
 
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