demand deposit

A demand deposit is a type of bank account that allows you to withdraw your money anytime without any advance notice. Common examples include checking accounts, where you can access your funds through checks, debit cards, or electronic transfers. Demand deposits are liquid, meaning you can easily convert them to cash. The bank may not pay high interest on these accounts, but they offer flexibility and convenience for everyday transactions. In essence, demand deposits provide a secure place to keep your money while allowing quick access whenever you need it.