0
IN most cases a bank will ask for a deposit , often a small one note type to open the account
Wiki User
∙ 6y ago
Add your answer:
Earn +20 pts
Can you make a checking account without a deposit?
On opening an account backs will normally ask for a small deposit to start the process.
What is money in a checking account called?
Money in a checking account is called demand deposit.
Can I deposit cash in someone esle's checking 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…
What is the technical name for checking account is?
Demand Deposit Account
Can a person be on a checking account for deposit only but can not write check on the account?
Yes, it is possible for someone to be added to a checking account as a deposit-only signatory, meaning they can only make deposits into the account but cannot write checks or make withdrawals. This arrangement is often used when someone needs to provide funds to an account but does not need or want access to the funds for spending or withdrawals.
How much cash must be deposited to open a checking account at the Whidbey Island Bank?
"Whidbey Island bank requires you to make a deposit of 100 dollars to open a checking account with them. If you are opening a savings account, you must deposit at least 150 dollars."
What will be the initial deposit to open a Bank of America account?
I think it is US $ 500 for a simple checking account. The bank would give you an ATM card and a check book for this account. However if you arrange to have a Direct Deposit (Your Monthly Salary/paycheck) into this account Bank of America waives this minimum balance requirement and you can have it as a Zero-Balance checking account.
What describes a demand deposit?
money in a checking accountMoney in a checking account
Change my bank account for direct deposit?
My current bank checking account is invalid. How do I change the account number to the new checking account ???
What does dda mean in ATM transfer to dda number?
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.
How do you open a checking account?
You go to your bank of choice and tell them that you want to open a checking account. You'll need a deposit. Banks vary on the amount of a deposit needed to open an account. Banks offer different kinds of checking accounts too.
How does a cheque work?
A check is a demand. It is an order to pay someone form your checking account. A checking account is a demand deposit.
