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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
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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directly as money (for example, by writing a cheque or using a debit card at a point of sale), although cash can be withdrawn from these accounts at an automated teller machine.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
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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A money deposit at a banking institution that cannot be withdrawn for a preset fixed 'term' or period of time and will incur penalties for withdrawals before a certain date. When the term is over it can be withdrawn or it can be rolled over for another term.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
1288:). 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
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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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1379:, 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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1170:the higher the interest rate offered by the bank.
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19:"Deposits" redirects here. For other uses, see
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1145:Accounts maintained by retail banks that pay
1111:NOW (negotiable order of withdrawal) accounts
1034:in which a customer can deposit and withdraw
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39:The examples and perspective in this article
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340:Transaction (checking / current)
77:Learn how and when to remove this message
1127:A deposit account that pays interest at
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1094:Also known as "current accounts" in
1081:Description of account functionality
1558:Debtor-in-possession (DIP) financing
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1313:scheme, or be protected by a
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1038:. Deposit accounts can be
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566:Diversification (finance)
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516:Automated teller machine
21:Deposit (disambiguation)
1727:Consumer leverage ratio
1638:Tax refund interception
763:Stress test (financial)
1829:Business and economics
1167:in the United States.
1165:certificate of deposit
1096:Commonwealth countries
1090:Transactional accounts
1732:Debt levels and flows
1032:financial institution
937:Too connected to fail
698:Investment management
596:Environmental finance
455:Correspondent account
149:Community development
1553:Debt snowball method
1359:. Financial Advisory
1315:government guarantee
1304:reserve requirements
1249:, internet banking,
1123:Money market account
835:Exchange traded fund
713:Mathematical finance
673:Fundamental analysis
668:Full-reserve banking
274:Bank holding company
184:Export credit agency
92:Part of a series on
59:create a new article
51:improve this article
41:may not represent a
1253:or other channels.
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927:Time value of money
753:Statistical finance
743:Sustainable finance
693:Investment advisory
335:Time deposit (Bond)
1860:Financial services
1377:Short Term Deposit
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902:Security (finance)
877:History of banking
773:Structured product
768:Structured finance
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830:Ethical banking
820:Cost of capital
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683:Hedge (finance)
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1706:Money market
1701:Fixed income
1695:
1628:Phantom debt
1608:Debt bondage
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1361:. Retrieved
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1286:legal tender
1281:money supply
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1159:Time deposit
1129:money market
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855:participants
728:Pension fund
536:Asset growth
531:Bank secrecy
406:Bill payment
325:Money-market
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295:
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159:Credit union
73:
64:
40:
1745:Odious debt
1623:Garnishment
1488:Payday loan
1424:Instruments
1292:Regulations
887:Market risk
778:Toxic asset
748:Speculation
636:engineering
174:Development
154:Cooperative
1839:Categories
1763:Insolvency
1671:Government
1603:Compliance
1593:Charge-off
1573:Collection
1523:Bankruptcy
1516:Management
1483:Loan shark
1450:Government
1363:2012-05-14
1343:References
860:regulation
509:management
504:allocation
401:Electronic
194:Industrial
189:Investment
169:Depository
144:Commercial
67:April 2016
1720:Economics
1681:Municipal
1666:Diplomacy
1661:Corporate
1618:Distraint
1455:Municipal
1445:Debenture
1440:Corporate
1051:liability
840:Financial
631:economics
611:Financial
477:BRICS PAY
269:Wholesale
264:Universal
164:Custodian
55:talk page
1768:Interest
1741:Internal
1737:External
1656:Consumer
1588:Bad debt
1321:See also
1317:scheme.
1147:interest
1132:limits.
1056:interest
964:Category
656:services
641:forecast
616:analysis
521:Bad debt
307:Accounts
292:Accounts
229:Payments
219:Offshore
199:Merchant
124:Advising
49:You may
1791:Portals
1758:Default
1686:Venture
1676:Medical
1648:Markets
1580:Evasion
1542:history
974:Commons
651:planner
621:analyst
369:Prepaid
330:Savings
320:Deposit
254:Savings
239:Private
214:Neobank
139:Central
101:Banking
1575:
1538:Relief
1251:EFTPOS
1247:cheque
1239:assets
984:Portal
907:Shares
870:system
850:market
411:Mobile
391:Cheque
359:Credit
294:
249:Retail
244:Public
179:Direct
1855:Banks
1817:Money
1805:Banks
1691:Buyer
1498:Usury
1465:Loans
1432:Bonds
1210:to a
1036:money
1026:is a
626:asset
499:Asset
489:Terms
450:SWIFT
364:Debit
346:Cards
299:Cards
57:, or
1417:Debt
1327:Bank
865:risk
708:Loan
646:plan
546:Cash
472:SPFS
467:CIPS
445:Giro
423:RTGS
418:Wire
396:Card
129:Banq
1261:.)
1075:SN
845:law
601:ESG
462:CLS
435:ACH
354:ATM
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