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Why is it more difficult for the beginning saver to open a money market deposit account than passbook saving account?
Opening a money market deposit account often requires a higher minimum balance compared to a passbook savings account, making it less accessible for beginning savers. Additionally, money market accounts may have more complex terms and conditions, including limited transaction capabilities, which can be confusing for newcomers. In contrast, passbook savings accounts typically have lower minimum deposits and simpler features, making them easier for beginners to manage.
What else can I help you with?
What is the balance after 7 years if you deposit 350 every quarter into a savings account that earns 4.5 percent interest compounded quarterly?
$11,573.02 if you deposit at the beginning of the quarter or $11,444.27 if you deposit at the end of the quarter
Can I deposit a cashier's check into my account?
Yes, you can deposit a cashier's check into your account.
Can you deposit a cashier's check into your account?
Yes, you can deposit a cashier's check into your account.
What was the amount of the first and last deposit made into your account?
The first deposit into the account was 500, and the last deposit was 1,000.
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…
A passbook account is a type of checking account?
Maybe. A passbook is just a booklet that contains all details of banking transactions done on the bank account to which it is linked. It can be linked to a savings account, a recurring deposit account or even a checking account. So, by just knowing that an account has a passbook, we cannot conclude if it is a checking account
Can you check how much money you deposit to your account?
Sure. It is your account and you can always check that. Most banks give a passbook or a statement on the account on a regular basis (usually once a month). In case of a passbook, you can get it updated by the bank teller to show the list of transactions and confirm/check the amount deposited into your account. Also, when you deposit money into your account, a transaction advise will be generated and provided by the bank teller. You can use that as well to check the same.
Can you direct deposit Veterans disability checks to a Philippine bank?
Yes you can and from what I can see so far it is required to be a passbook type account.
What type of bank account can you make six withdrawals per month without being penalized?
You're probably talking about a money market deposit account (MMDA) or a passbook/statement savings account.
What is the journal entry for deposit to bank account for beginning a business?
Journal entry for opening a bank account
What is a passbook?
A passbook or bankbook is a paper book used to record bank transactions on a deposit account. Depending on the country or the financial institution, it can be of the dimensions of a chequebook or a passport. Traditionally, a passbook is used for accounts with a low transaction volume, such as a savings account. In the early days of banking, the bank teller would write, by hand, the date and amount of the transaction, the updated balance, and enter his or her initials. Today, a small dot matrix or inkjet printer updates the passbook at the account holder's convenience, either at an automated teller machine or a passbook printer, either in a self-serve mode or in a branch. For people who feel uneasy with telephone or online banking, this is an alternative to obtain, in real-time, the account activity without waiting for a bank statement. However, contrary to the bank statement, the passbook offers fewer details, replacing easy-to-understand descriptions with short codes, also known as mnemonics.
What is the balance after 7 years if you deposit 350 every quarter into a savings account that earns 4.5 percent interest compounded quarterly?
$11,573.02 if you deposit at the beginning of the quarter or $11,444.27 if you deposit at the end of the quarter
Can I deposit a cashier's check into my account?
Yes, you can deposit a cashier's check into your account.
Can you deposit a cashier's check into your account?
Yes, you can deposit a cashier's check into your account.
What was the amount of the first and last deposit made into your account?
The first deposit into the account was 500, and the last deposit was 1,000.
How do you deposit money in an account?
you can deposit at the bank
Why is investec commercial bank a deposit taking intermediary?
It have a variety of deposit account, such as check account, savings and time deposit
