Demand deposit

From Conservapedia
This is the current revision of Demand deposit as edited by Aschlafly (Talk | contribs) at 17:44, June 20, 2009. This URL is a permanent link to this version of this page.

(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search

A demand deposit is a bank's promise to pay immediately a sum required by a customer who has a deposit with the bank. Another term for it is "checkbook money," because it facilitates the use of checks to make payments instead of cash.

Demand deposits do not pay interest to their owner.