What Is a Check Ledger?
A checking account is also called bank currency, which refers to the deposit in a commercial bank or other financial institution. Withdrawal by check is allowed, so it is a transaction currency (or m1). Also called checking deposit account. A checking account is equivalent to our current deposit, a savings account is equivalent to our time deposit account, and our current account is equivalent to the personal credit card deposit in M1. A deposit account refers to a bank settlement account opened by a depositor for daily transfer settlement and cash receipts and payments, and is a depositor's hosting account. The deposit account is the hosting account for transfer settlement and cash collection and payment. The daily fund collection and payment of business activities and the withdrawal of wages, bonuses and cash can be processed through this account. Depositors can only open a basic deposit account with the bank and should have sufficient funds in their account to pay. For depositors' basic deposit accounts, the local branch of the People's Bank of China shall issue an account opening permit system. Opening a basic deposit account is a prerequisite for opening other bank settlement accounts. A checking account refers to a deposit in a commercial bank or other financial institution, which allows withdrawals by check. It is therefore a currency of transactions and is also called a check deposit.
Checking account
discuss
- Chinese name
- checking account
- Foreign name
- Checking account
- category
- Financial institution
- A checking account is also called bank currency, which refers to the deposit in a commercial bank or other financial institution. Withdrawal by check is allowed, so it is a transaction currency (or m1). Also called checking deposit account. A checking account is equivalent to our current deposit, a savings account is equivalent to our time deposit account, and our current account is equivalent to the personal credit card deposit in M1. A deposit account refers to a bank settlement account opened by a depositor for daily transfer settlement and cash receipts and payments, and is a depositor's hosting account. The deposit account is the hosting account for transfer settlement and cash collection and payment. The daily fund collection and payment of business activities and the withdrawal of wages, bonuses and cash can be processed through this account. Depositors can only open a basic deposit account with the bank and should have sufficient funds in their account to pay. For depositors' basic deposit accounts, the local branch of the People's Bank of China shall issue an account opening permit system. Opening a basic deposit account is a prerequisite for opening other bank settlement accounts. A checking account refers to a deposit in a commercial bank or other financial institution, which allows withdrawals by check. It is therefore a currency of transactions and is also called a check deposit.
- checking account (or bank money)
- Deposits in commercial banks or other financial institutions are allowed to be withdrawn by check, so they are transaction currencies (or m1). Also called checkable deposit, it is the largest component of m1.