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Cash credit Account (CC)
This account is the primary method in which Banks lend money against the security of commodities and debt. It runs like a current account except that the money that can be withdrawn from this account is not restricted to the amount deposited in the account. Instead, the account holder is permitted to withdraw a certain sum called "limit" or "credit facility" in excess of the amount deposited in the account.
Cash Credits are, in theory, payable on demand. These are, therefore, counter part of demand deposits of the Bank.
Overdraft (OD)
The word overdraft means the act of overdrawing from a Bank account. In other words, the account holder withdraws more money from a Bank Account than has been deposited in it.
What else can I help you with?
What is stands for OD bank account?
OD in banking typically stands for overdraft or overdrawn, meaning more cash was taken than was in the account.
Does od mean overdraught on bank statement?
OD stands for Over Draft or Over Drawn. Over Draft - is a facility wherein a bank will allow you to withdraw money from your bank account even if you don't have sufficient funds currently in your account. Over Drawn - An account is said to be over drawn if the customer has utilized his overdraft facility and withdrawn funds from his account.
Your account is overdraft can you still cash a check?
Yes, if you still have OD limit and No, if you have exhausted your OD limit. Let us say your OD limit is $10,000 and you have used $7,000 and you have given a cheque for $2000, then your cheque would be cashed. If you have used $9,800 and given a cheque for $2000 your cheque would be rejected.
How will make entry for bank over draft?
In the books of customer cash a/c Dr. To Bank (OD) A/c (Being cash withdrawl from bank overdraft account)
Once you close your bank account can you still be charged?
Of course But most banks will not chase you down if the amount is small If you didn not have enough to cover a charge you will be assessed the OD fee
What is the difference between WCDL OD CC STL?
These four acronyms all have unrelated meanings, so the differences are numerous. WCDL refers to a Pennsylvanian radio station, OD refers to an overdose of drugs, CC usually refers to a credit card and STL refers to the Special Tribunal for Lebanon.
What is the difference between buying TT and buying OD?
TT is telegraph transfer and OD is on demand.
What is the size of the eagle?
what is difference between NB & OD in pipe size
What is the difference between "os" and "od" in eye prescriptions?
In eye prescriptions, "OS" refers to the left eye and "OD" refers to the right eye.
Give examples od differences between interpersonal and business communication?
what is the difference between Interpersonal and Business Communication?
What is OD account?
od account or the overdraft account is an account from which the depositor can draw more amount than that is available in the account.This is given on the basis of fd,assets etc.
What is stands for OD bank account?
OD in banking typically stands for overdraft or overdrawn, meaning more cash was taken than was in the account.
What is the difference between an art period and an art movement?
Try this site:* http://arthistory.about.com/od/movements/f/eramoveperiod.htm
What is difference between OD and DO?
The order of the letters. For a more definitive answer, you'd need to give us some kind of context.
What is difference OD and NB of pipe?
NB = inside diameter of the tube. OD = outside diameter of the tube.
How do you find cylinder ID when the OD is known?
There is no corelation between a cylinders ID to OD.
What is the major difference between the progress od a bill in the house as opposed to the senate?
The bill must go through an extra committee in the House, the Rules Committee.
