Ask Question
1 January, 23:05

Why are funds in checking accounts called demand deposits

+4
Answers (1)
  1. 2 January, 00:06
    0
    These are the amounts held in checking accounts. They are called demand deposits or checkable deposits because the banking institution must give the deposit holder his money "on demand" when a check is written or a debit card is used.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Why are funds in checking accounts called demand deposits ...” in 📘 History if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers