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What is money in a checking account called?
Money in a checking account is called demand deposit.
Is the amount of money in your checking account called your allowance?
No, the proper banking term is balance for an amount in a checking account.
What if its disabilty money in your checking account how would a lien work then?
if you have a lein on you, can they take your disabilty money out of your checking account
What is the term for money kept in a checking 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.
Why is a checking account more convenient is savings account?
It's easier to spend the money in a checking account.
Is a checking account an asset?
From the account holders perspective yes a checking account is an asset. The amount of money you have in your checking account is your asset. From the banks perspective it is a liability because whenever you want your money, the bank has to give it to you.
What are the disadvantages of using checking accounts?
Many checking accounts do not offer interest on the money in your savings account. This is a disadvantage because the money you put in a savings account will collect interest, where a checking account will not.
What is a checking account frequently referred to as?
A checking account is also called a transactional account or chequing account.
Do you paid taxes on checking account?
The only tax you would pay on money in a checking account is any interest the money made if it is a interest type of account.
What is a written order directing the bank to deduct money from your checking account to make a payment called?
a check
Can you have 300 dollars with out a checking account?
Of course, there isn't a law that says that you need a checking account to posses money.
What limit can you put in a checking account in Florida?
what limit of money can you put in your checking account in Florida bank of America
