Definition of Transaction account:
Deposit account from which its holder can make withdrawals or make transfers to third parties through checks, drafts, online transfers, etc.
How to use Transaction account in a sentence?
- The transaction account was used in the contract as transferring funds from our other accounts would be sub-optimal according to our accounting department.
- You should always know what is going on in the transaction account so that you are up to speed on your finances.
- The Chief Financial Officer had to make sure that sufficient funds were available in the transaction account before making an offer on the new building.
Meaning of Transaction account & Transaction account Definition