Difference between revisions of "Checking Account"
From Open Risk Manual
Wiki admin (talk | contribs) (Created page with "== Definition == A '''Checking Account''' (also, ''Current Account'' or ''Demand Deposit Account'') is a deposit account held at a bank or other financial institution. It is a...") |
(No difference)
|
Latest revision as of 18:26, 4 September 2020
Definition
A Checking Account (also, Current Account or Demand Deposit Account) is a deposit account held at a bank or other financial institution. It is available to the account owner "on demand" for frequent and immediate access, thereby facilitating payment via cash withdrawal, debit card, checks or electronic transfer.
The account holder is exposed to the Credit Risk of the financial institution.
