Commercial Bank and Checking Accounts

Can others deposit money in your checking account?

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2011-05-13 13:29:05
2011-05-13 13:29:05

yes. my dad has done it before

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money in a checking accountMoney in a checking account


Money in a checking account is called demand deposit.


You do not need a certificate of deposit (also known as a CD) to deposit money into an account - unless you are attempting to deposit money into a CD account. Most banks only require you to have a regular savings account opened to be able to deposit money into a checking account for free. However, these terms vary by bank depending on which one you are using. Generally speaking, however, you should not have to open a CD to deposit funds into a regular checking account.


money in a checking account (A+)


Sure. Most banks do not have any restrictions on who can deposit money into a customers bank account. Even if I want, I can deposit money into your checking account. All I need is to know your full name and your bank account number. So, your grand daughter can easily know your name and account number and she can happily deposit money into your account.


DDA stands for demand deposit account. It is a bank account in which you can deposit and withdraw money. A form of a demand deposit account is a checking account.


A Checking account is also called a demand deposit , because the money can be withdrawn at any time - that is ," on demand. This is right out the book this is right.


Accounts for deposit are traditionally, checking, saving, money markets and sometime cd's. It is an account that you can add money to on regular basis.


Yes, you can deposit a money order into your checking account, just as if it were a check or cash. List the money order in the "checks" section of the deposit slip and endorse it on the back in the appropriate place (which is generally indicated on most money orders).




A checking account allows someone to deposit money in a bank for safekeeping. When the account holder needs money, he can write a check or have it drafted from his bank account.


Yes. There are no restrictions as to who can deposit cash into a checking account. Anyone can deposit cash into anyone else's account as long as they know the account number of the account into which they want to deposit cash. For ex: I can walk into the bank branch where you hold a checking account and deposit $500 into it if I know the account number. Nobody will ask or question me as to why I am doing so…


Really? Is this a serious question? From my experience anyone can make a deposit into a checking account. All they need is the account number, nothing more. Endorsing the check to be deposited with "For Deposit Only," filling out a deposit check and handing it to a teller will do the trick. Never have I been asked for identification when depositing money into an account.


A checking account is called a "demand deposit" because it is available for transfer to another individual or company by writing a check or draft.


No. He cannot access your checking account to view the balance or to withdraw money. However, he will be able to access your account to credit your monthly paycheck or salary through direct deposit. Even during direct deposit, he wouldn't be directly accessing your checking account. Instead, his bank would be doing that by means of direct deposit instructions to your bank.


No. Actually there is no rule stopping a third party from depositing money into a check account but, for doing that, the third party must know the account number into which they wish to deposit the cash. So without knowing your bank account number, nobody can deposit any money into it.


Some different types of bank accounts available are:Savings accountChecking accountFixed Deposit accountRecurring Deposit accountMoney market accountLoan Accountetc


The most common and basic types of deposit accounts are checking and savings accounts. These are both used to deposit money into if your place of work has direct deposit.


A checking account is a specific type of bank account, but there are other types. A checking account is a transaction account where you can write checks against the funds in the account. Other types of bank accounts are savings accounts, money market accounts and certificates of deposit.


If you have funds in a savings account preferably in the same bank, you can do it online, at a branch or at the ATM. If you have a savings account at another bank, you can withdraw money from that other bank and deposit it into your checking account. Basicaly you have to have a "back up" account in order to find the checking account.


Yes. There are no restrictions as to who can deposit cash into an account. Anyone can deposit cash into anyone else's account as long as they know the account number of the account into which they want to deposit cash. For ex: I can walk into the bank branch where you hold a checking account and deposit $500 into it if I know the account number. Nobody will ask or question me as to why I am doing so…


When money is held in a checking account the money is liquid. It is always accessible. It can be withdrawn using checks, or electronic cards. A money market account however, is much like a certificate of deposit. It requires a larger amount of money in order to open the account and has a much higher interest rate.


On opening an account backs will normally ask for a small deposit to start the process.


form_title=Set up a Checking Account form_header=Having a checking account will help you keep track of your money. Does your company offer direct deposit?= () Yes () No Would you like a debit card?= () Yes () No What other features would you like with this account?=_



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