Commercial account

Commercial account,

Definition of Commercial account:

  1. A financial account that is owned and used by a business or corporation. Checking or other types of demand deposit accounts are considered commercial accounts. The Federal Reserve instituted Regulation Q which prohibits banks from paying interest on this type of account.

  2. Regulation Q of the U.S. Federal Reserve prohibits banks from paying interest on this type of account. Banks instead pay earnings credits, which they base upon the average account balance.

  3. A commercial account is any type of bank account that is used by corporations and businesses. A commercial account is usually a checking or other type of demand deposit account, meaning the money can be withdrawn at any time.

How to use Commercial account in a sentence?

  1. A commercial account is any type of bank account that is used by corporations and businesses.
  2. Commercial banking account customers are also offered services, such as credit products, cash management, and investments.
  3. A commercial account is usually a checking or other type of demand deposit account, meaning the money can be withdrawn at any time.

Meaning of Commercial account & Commercial account Definition