Definition of Checkable deposits:
Verified deposit is the technical term for any demand deposit account under which any type of exchange check or bill can be issued. (Deposit account means that the owner can withdraw money without notice if necessary.)
These include all types of convertible returns, such as b. Exchangeable Refund Requests (NOW) or Super NOW Accounts. (Accounts may now require seven days' written notice before withdrawing money, but this is rarely necessary.)
The money is deposited in a bank or other financial institution so that people can access their accounts quickly by writing a check or money order. These accounts are very fluid in nature so can be transferred from one person to another. Current, savings and money market accounts are examples of current accounts.
How to use Checkable deposits in a sentence?
- I have reserves that can be verified and easily accessed by me, which helps us financially.
- Customers can access their money at any time through a verified account.
- The interest rate depends on the type of bank and account.
- Since Mr. Spricks needs to keep a large amount of money in his business, he makes sure that his verifiable deposit is always more than $ 30,000 so that he can cover any unforeseen expenses without accident. کرسکے۔
- Now my company has hired me as a junior partner. They recommend having a checking account with your financial institution with the option of instant transfer.
- Some types of deposit accounts that can be verified, such as B-Money Market account, may limit monthly withdrawals.
- Accounts that can be verified include checking accounts, savings accounts and money market accounts.
Meaning of Checkable deposits & Checkable deposits Definition