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Dreamers Note

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DEPOSITS
A deposit account is a savings account, current account, or other type of bank account, at a banking institution that allows money to be deposited and withdrawn by the account holder. These transactions are recorded on the bank's books, and the resulting balance is recorded as a liability for the bank, and represents the amount owed by the bank to the customer. Some banks charge a fee for this service, while others may pay the customer interest on the funds deposited.

Individuals and corporations need money to pursue their daily business. They place the money on deposit to earn interest, using the money market. Types of deposits are: * Call deposits, the depositor has the right to use the money at any time, sometimes short notice periods are agreed. As the depositor can show up any time to request the deposit back, it is also called sight deposit. * Fixed deposits bear a fixed time and fixed interest rate, and are therefor also called term or time deposits. * Overnight lending occurs usually from noon to noon, using a special rate. to give as security or in part payment.

Major Types * Checking accounts: A deposit account held at a bank or other financial institution, for the purpose of securely and quickly providing frequent access to funds on demand, through a variety of different channels. Because money is available on demand these accounts are also referred to as demand accounts or demand deposit accounts. * Money market account: A deposit account with a relatively high rate of interest, and short notice (or no notice) required for withdrawals. In the United States, it is a style of instant access deposit subject to federal savings account regulations, such as a monthly transaction limit. * Savings accounts: Accounts maintained by retail banks that pay interest but cannot be used directly as money (for example, by writing a

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