Demand deposits are a form of deposits held in banks that are available by making a cash withdrawal or writing a check.
What are demand deposits and their features?
A demand deposit is cash maintained in a bank account that the depositor may withdraw at any time without first telling the bank. Demand deposits have the following characteristics:
What are the advantages of demand deposit?
Demand Deposits allow the depositor to withdraw money whenever they need to, without giving the bank any notice first. Demand Deposit enables joint account ownership. Demand deposits make the consumer's money conveniently accessible. Bank tellers, online banking, ATMs, and writing checks are a few examples.
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