demand deposit
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Related to sight deposit: time deposit, demand deposit
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Funds in a bank account that may be withdrawn on demand of the customer.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.
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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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
demand deposit
see BANK DEPOSIT, COMMERCIAL BANK.Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005