Deposit account

savings account, current account, or other type of bank account

A Deposit Account is an account at a bank where money can be put in or taken out by whoever owns the account. Each time money is moved, it is recorded in the bank's books. Some banks charge a fee for this, others may pay the customers interest.

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Deposit account definition and explanations in simple terms Archived 2009-03-09 at the Wayback Machine

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