What is a Demand Deposit?

Demand deposits are bank deposits that depositors can access and transfer at any time without any prior notice. Its forms include checking deposit accounts, guaranteed checks, cashier's checks, traveler's checks and letters of credit. Demand deposits account for the largest portion of a country's money supply and are also an important source of funds for commercial banks. The demand deposit not only has the functions of currency payment means and circulation means, but also has strong derivation ability, which is the focus of commercial bank operations. The interest rate on demand deposits is generally low; Western commercial banks generally do not pay interest, and some even charge a certain fee. ^[1]

[huó q cún kun]

Not used for consumption

1.

1.

1. Account opening: business outlets

2. Deposits: business outlets, ATMs, automatic deposit machines.

3. Withdrawal: business outlets, ATM.

4. Query: Business outlets, ATM, telephone banking, online banking, mobile banking, self-service terminals.