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3 years ago

12

What are the difference classifications for deposit account

1 answer:

erma4kov [3.2K]3 years ago

5 0

Answer:

Deposits accounts classified as currents accounts, savings accounts and money market accounts.

Explanation:

Deposit account is a kind of savings account which allows the person or an individual to deposit or withdrawn the money by the account holder. These transactions are recorded in the banks books and the resultant balance will be reported as a liability for the bank.

The several different kinds of deposit accounts involves money market accounts, current accounts, call deposit accounts, Certificates of deposit (CDs) and savings accounts.

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