What is technical name for a checking account at an commercial bank?

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What is technical name for a checking account at an commercial bank?

2006-11-28 05:54:05 · 3 answers · asked by Anonymous in Business & Finance ➔ Personal Finance

3 answers

Demand deposit account

2006-11-28 07:00:32 · answer #1 · answered by Andreas 3 · 0⤊ 0⤋

If it pays interest, then technically it is called a NOW account. Checking accounts by definition cannot pay interest. This is just technical jargon, as most banks now refer to NOW accounts as "checking accounts."

2006-11-28 06:11:59 · answer #2 · answered by Anonymous · 0⤊ 0⤋

current account.. =)

2006-11-28 05:58:57 · answer #3 · answered by mystery moo 3 · 0⤊ 1⤋