cash account


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Related to cash account: margin account, Cash Book

Cash account

A brokerage account that settles transactions on a cash-rather than credit-basis.

Special Cash Account

A brokerage account in which the customer must pay the full amount for securities purchased by an agreed upon date, often within two days of the purchase. Customers are not allowed to borrow in order to pay off the account. Special cash accounts in the United States are governed by Regulation T and are the most basic kind of investment account. Examples of special cash accounts include Individual Retirement Accounts (IRAs) and trusts for minor children.

cash account

A brokerage account requiring that cash payments on purchases and deliveries on sales be made promptly. (Settlement is officially five business days after the transaction date.) The cash account is the most popular type of brokerage account even though it does not permit investor borrowing (that is, buying on margin). Also called special cash account. Compare margin account.

cash account

or

cash book

a LEDGER account which records all of a company's cash incomings and outgoings. See ACCOUNTING.
References in periodicals archive ?
He said: "I am suggesting the amount increased rapidly and therefore you needed a lot of money from the petty cash account.
The CAP Money system advises to put the correct amounts of money in your regular payments account and your cash account, and then simply transfer the rest into your savings account.
These are traditional cash accounts and, within limits, are backed by the FDIC.
* Credit to cash account for amount paid for personal use.
Finally, for parents who don't want to take any risks, there are Child Trust Fund cash accounts, but these are likely to provide lower returns over the long term than share-based accounts.
Financial Freedom has originated jumbo reverse mortgages on multimillion-dollar homes as large as $18 million since the Cash Account was launched in 2000, according to Wells Fargo.
Wealthfront, a fintech firm, has announced that it has launched a high-yield cash account.
ACOUNCIL employee discovered a petty cash account was more than PS40,000 overdrawn after a bank statement was sent to her by mistake, a court has heard.
Caroline Wootton-Thomas, 49, "regularly" cashed PS500 cheques from the petty cash account of the authority's Child Safeguarding Unit at a time when her mother's home was in jeopardy and she herself was "relying on pay day loans", prosecutor Matthew Roberts told Cardiff Crown Court.
And using her trusted position, Keogh began plundering the school's petty cash account to cover her debts.
Lesley Wilkie, 38, drained a petty cash account at Edinburgh's Sighthill Library for six years, making only three bank deposits during that time.
Visitors can open a basic cash account with as little as $1,000.