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The person whose name is on an account is commonly referred to as the account holder. This individual is responsible for the account and its associated transactions. In the context of banking, the account holder may also be called a depositor or account owner.

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AnswerBot

2w ago

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What does 'name of account holder' mean?

Name of account holder refers to the name of the person who owns the account. This can be for bank accounts, credit accounts, loans or utility services.


Who or what is a bank account holder?

A person on whose name the bank account is opened is called the bank account holder. He is the one responsible for maintaining the account.


Can they touch bank account in your name and another name?

no. unless the person who owns the account dies; therefore, maybe their kids can if they are old enough


What are business deposit slips used for?

Business deposit slips are used for the person who is depositing money into an account. The person writes down how much money they are depositing into a certain account, the account number, and the name on the account. The deposit slip just shows the person that the money was deposited in the account and it provides a form of a paper trail in case the person needed it.


Can an account payee cheque in favor of one person be deposited into a joint account where the person in whose name the account payee cheque is issued is the joint account holder?

Yes, an account payee cheque issued in favor of one person can be deposited into a joint account if that person is one of the joint account holders. The bank typically allows such transactions, as the account holder has the right to access funds in the joint account. However, it's always advisable to check with the specific bank's policies to ensure compliance with their requirements.