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In banking, the verbs "deposit" and "withdraw" mean a customer paying money into, and taking money out of, an account, respectively. From a legal and financial accounting standpoint, the noun "deposit" is used by the banking industry in financial statements to describe the liability owed by the bank
1160:
but can not be used directly as money (for example, by writing a cheque or using a debit card at a point of sale), although cash can be withdrawn from these accounts at an automated teller machine. While they are not as convenient to use as checking accounts, these accounts generally offer consumers
1294:
in use today. For example, if a bank in the United States makes a loan to a customer by depositing the loan proceeds in that customer's checking account, the bank typically records this event by debiting an asset account on the bank's books (called loans receivable or some similar name) and credits
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In the financial statements of the bank, the $ 100 in currency would be shown on the balance sheet as an asset of the bank and the deposit account would be shown as a liability owed by the bank to its customer. The bank's financial statement reflects the economic substance of the transaction, which
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rates, and for which no notice or very short notice is required for withdrawals. In the United States, they are similar to checking accounts in that they offer check-writing privileges and instant access but they are subject to the same regulations as savings accounts, including monthly transaction
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A money deposit at a banking institution that cannot be withdrawn for a preset fixed 'term' or period of time and will incur penalties for withdrawals before a certain date. When the term is over it can be withdrawn or it can be rolled over for another term. Generally speaking, the longer the term
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For example, a depositor depositing $ 100 in cash into a checking account at a bank in the United States surrenders legal title to the $ 100 in cash, which becomes an asset of the bank. On the bank's books, the bank debits its cash account for the $ 100 in cash, and credits a "deposits" liability
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Subject to restrictions imposed by the terms and conditions of the account, the account holder (customer) retains the right to have the deposited money repaid on demand. The terms and conditions may specify the methods by which a customer may move money into or out of the account, e.g., by
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is that the bank has borrowed $ 100 from its customer and has contractually obliged itself to repay the customer according to the terms of the agreement. These "physical" reserve funds may be held as deposits at the relevant central bank and will receive interest as per
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of the bank and represents an amount owed by the bank to the customer. In other words, the banker-customer (depositor) relationship is one of debtor-creditor. Some banks charge fees for transactions on a customer's account. Additionally, some banks pay customers
1299:). The customer's checking account balance has no banknotes in it, as a demand deposit account is simply a liability owed by the bank to its customer. In this way, commercial banks are allowed to increase the money supply (without printing currency).
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A deposit account for the purpose of securely and quickly providing frequent access to funds on demand, through various different channels. Because money is available on demand, these accounts are also referred to as "demand accounts" or
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By transferring the ownership of deposits from one party to another, banks can avoid using physical cash as a method of payment. Commercial bank deposits account for most of the
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the deposit liability or checking account of the customer on the bank's books. From an economic standpoint, the bank has essentially created economic money (although not
53:
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Banking operates under an intricate system of customs and conventions developed over many centuries. It is also normally subject to statutory regulations, such as
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A deposit account in which amounts over a certain balance are automatically transferred to another account pursuant to a pre-determined set of arrangements.
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developed to reduce the risk of failure of the bank. It may also have the purpose of reducing the extent of depositor losses in the event of bank failure.
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Typically, a bank will not hold the entire sum in reserve, but will lend most of the money to other clients, in a process known as
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A deposit account that allows for the withdrawal of funds without penalty but requires a higher minimum balance to earn interest.
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a higher rate of interest than a transactional account and will usually be linked to a transactional account.
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Transactions on deposit accounts are recorded in a bank's books, and the resulting balance is recorded as a
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to its depositor, and not the funds that the bank holds as a result of the deposit, which are shown as
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To reduce the risk to depositors of a bank failure, some bank deposits may also be secured by a
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1390:, International Deposit, Interest Rates Exchange. Accessed 2012-05-14.
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in order to cover a check written or to maintain a minimum balance.
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Bank holding into and from which money can be placed or withdrawn
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An account where deposits are held for no longer than a year.
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A deposit account that allows the transfer of funds from a
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or any of several other types of accounts explained below.
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1181:the higher the interest rate offered by the bank.
30:"Deposits" redirects here. For other uses, see
1412:
1156:Accounts maintained by retail banks that pay
1122:NOW (negotiable order of withdrawal) accounts
1045:in which a customer can deposit and withdraw
1014:
50:The examples and perspective in this article
8:
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1419:
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1007:
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351:Transaction (checking / current)
88:Learn how and when to remove this message
1138:A deposit account that pays interest at
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1806:
1359:
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110:
1105:Also known as "current accounts" in
1092:Description of account functionality
7:
1569:Debtor-in-possession (DIP) financing
980:
1214:Automatic transfer service account
1268:account for an equal amount. (See
25:
1120:accounts", except in the case of
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1809:
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1270:double-entry bookkeeping system
1109:and "checking accounts" in the
769:Strategic financial management
1:
1324:scheme, or be protected by a
923:Sustainable development goals
1233:Short term deposit account
1069:on their account balances.
64:, discuss the issue on the
1887:
1306:
1285:fractional-reserve banking
1049:. Deposit accounts can be
674:Fractional-reserve banking
602:Enterprise risk management
29:
1764:
577:Diversification (finance)
527:Automated teller machine
32:Deposit (disambiguation)
1738:Consumer leverage ratio
1649:Tax refund interception
774:Stress test (financial)
1840:Business and economics
1178:in the United States.
1176:certificate of deposit
1107:Commonwealth countries
1101:Transactional accounts
1743:Debt levels and flows
1043:financial institution
948:Too connected to fail
709:Investment management
607:Environmental finance
466:Correspondent account
160:Community development
1564:Debt snowball method
1370:. Financial Advisory
1326:government guarantee
1315:reserve requirements
1260:, internet banking,
1134:Money market account
846:Exchange traded fund
724:Mathematical finance
684:Fundamental analysis
679:Full-reserve banking
285:Bank holding company
195:Export credit agency
103:Part of a series on
70:create a new article
62:improve this article
52:may not represent a
1264:or other channels.
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938:Time value of money
764:Statistical finance
754:Sustainable finance
704:Investment advisory
346:Time deposit (Bond)
1871:Financial services
1388:Short Term Deposit
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913:Security (finance)
888:History of banking
784:Structured product
779:Structured finance
592:Economic expansion
105:financial services
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1644:Strategic default
1609:Collection agency
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1504:Predatory lending
1322:deposit insurance
1243:How banking works
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1073:Types of accounts
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826:Corporate finance
821:Capital structure
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567:Corporate finance
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72:, as appropriate.
16:(Redirected from
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1174:Also known as a
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1051:savings accounts
1041:maintained by a
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1152:Savings account
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928:Systematic risk
841:Ethical banking
831:Cost of capital
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744:Private banking
714:Islamic banking
694:Hedge (finance)
617:Ethical banking
587:Economic bubble
562:Climate finance
537:Bank regulation
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1368:"Call Deposit"
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1307:Main article:
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805:Related topics
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291:Lists of banks
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129:Types of banks
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56:of the subject
54:worldwide view
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1559:Restructuring
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1539:Consolidation
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1484:Business loan
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1202:Sweep account
1200:
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1190:Call deposit
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1111:United States
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1089:Account Type
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953:Watered stock
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933:Systemic risk
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893:List of banks
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811:Asset pricing
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1639:Phantom debt
1619:Debt bondage
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1372:. Retrieved
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1297:legal tender
1292:money supply
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866:participants
739:Pension fund
547:Asset growth
542:Bank secrecy
417:Bill payment
336:Money-market
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306:
289:
170:Credit union
84:
75:
51:
1756:Odious debt
1634:Garnishment
1499:Payday loan
1435:Instruments
1303:Regulations
898:Market risk
789:Toxic asset
759:Speculation
647:engineering
185:Development
165:Cooperative
1850:Categories
1774:Insolvency
1682:Government
1614:Compliance
1604:Charge-off
1584:Collection
1534:Bankruptcy
1527:Management
1494:Loan shark
1461:Government
1374:2012-05-14
1354:References
871:regulation
520:management
515:allocation
412:Electronic
205:Industrial
200:Investment
180:Depository
155:Commercial
78:April 2016
18:Depositors
1731:Economics
1692:Municipal
1677:Diplomacy
1672:Corporate
1629:Distraint
1466:Municipal
1456:Debenture
1451:Corporate
1062:liability
851:Financial
642:economics
622:Financial
488:BRICS PAY
280:Wholesale
275:Universal
175:Custodian
66:talk page
1779:Interest
1752:Internal
1748:External
1667:Consumer
1599:Bad debt
1332:See also
1328:scheme.
1158:interest
1143:limits.
1067:interest
975:Category
667:services
652:forecast
627:analysis
532:Bad debt
318:Accounts
303:Accounts
240:Payments
230:Offshore
210:Merchant
135:Advising
60:You may
1802:Portals
1769:Default
1697:Venture
1687:Medical
1659:Markets
1591:Evasion
1553:history
985:Commons
662:planner
632:analyst
380:Prepaid
341:Savings
331:Deposit
265:Savings
250:Private
225:Neobank
150:Central
112:Banking
1586:
1549:Relief
1262:EFTPOS
1258:cheque
1250:assets
995:Portal
918:Shares
881:system
861:market
422:Mobile
402:Cheque
370:Credit
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260:Retail
255:Public
190:Direct
1866:Banks
1828:Money
1816:Banks
1702:Buyer
1509:Usury
1476:Loans
1443:Bonds
1221:to a
1047:money
1037:is a
637:asset
510:Asset
500:Terms
461:SWIFT
375:Debit
357:Cards
310:Cards
68:, or
1428:Debt
1338:Bank
876:risk
719:Loan
657:plan
557:Cash
483:SPFS
478:CIPS
456:Giro
434:RTGS
429:Wire
407:Card
140:Banq
1272:.)
1086:SN
856:law
612:ESG
473:CLS
446:ACH
365:ATM
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