Checking account

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A checking account or direct deposit account is an account held by a bank against which debits can be drawn on the customer's demand. The account is used to hold the customer's funds which they can access by a variety of means including direct withdrawal either from a teller or an Automated Teller Machine, use of an access check, use of a debit card using either a PIN or by authorization through the Visa or MasterCard network, Automated Clearing House withdrawal, or wire transfer.

Checking accounts are regulated by the Federal Reserve through a variety of means. For example, Regulation CC governs the availability of deposited funds, and Regulation E governs a customer's rights to dispute an unauthorized or improperly posted transaction.