Why are funds in checking accounts called demand deposits

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09-04-2019
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Why are funds in checking accounts called demand deposits

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gwolf1121 gwolf1121 · Answer 1 · 2019-04-09T05:02:56+02:00

gwolf1121 gwolf1121

09-04-2019

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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