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lesya692 [45]
3 years ago
7

Why are funds in checking accounts called demand deposits

History
1 answer:
SVETLANKA909090 [29]3 years ago
6 0

These are the amounts held in checking accounts. They are called demand deposits or checkable deposits because the banking institution must give the deposit holder his money “on demand” when a check is written or a debit card is used.

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