Demand Deposit Account

Traditional savings and checking accounts are generally demand deposit accounts.

Related Terms

  • ACH

    Automated Clearing House - ACH is a reliable electronic funds transfer (EFT) system governed by National Automated Clearing House Association (NACHA).

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  • EFTA (Electronic Fund Transfer Act)

    The Electronic Fund Transfer Act establishes the rights and liabilities of consumers in addition to the responsibilities of anyone who participates in electronic funds transfers.

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