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A transaction account, also called a checking account, chequing account, current account, demand deposit account, or share account at credit unions, is a deposit account or bank account held at a bank or other financial institution. It is available to the account owner "on demand" and is available for frequent and immediate access by the ...
Transactional accounts: Also known as "current accounts" in Commonwealth countries and "checking accounts" in the United States. A deposit account for the purpose of securely and quickly providing frequent access to funds on demand, through various different channels.
Checking vs. savings accounts. A checking account is fundamental for making day-to-day financial transactions, while a savings account is a good place for funds set aside for emergencies, or ...
1967 Letter from the Midland Bank to a customer, Mr. … , informing him on the introduction on electronic data processing and on account numbers for current accounts A bank account is a financial account maintained by a bank or other financial institution in which the financial transactions between the bank and a customer are recorded.
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While the average interest-bearing checking account earns a low 0.08% APY, a high-yield checking account offers the same day-to-day access with perks that include: High APYs on your everyday cash.
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