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No. A bank account can be a checking or savings. It is the account in your name where you deposit and withdrawl funds from. A bank deposit is when you put money into the account either by you walking into the bank and handing them cash or a check and the bank teller processes it to be put into your account. They are two different things but they are related.
Wiki User
∙ 14y ago
Wiki User
∙ 12y agoA checking account is a specific type of bank account, but there are other types. A checking account is a transaction account where you can write checks against the funds in the account. Other types of bank accounts are savings accounts, money market accounts and certificates of deposit.
Wiki User
∙ 12y agoA savings account is a type of deposit account - an account at a financial institution such as a bank or credit union, where the account holder may make deposits and/or withdrawals.
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How do you deposit money in an account?
you can deposit at the bank
How do you put money on an account?
Walk into an ATM and deposit the money into your bank accountWalk into the bank branch (any bank that you have an account with) and deposit the money into your bank account
Can you deposit gold into your bank account?
No. Only Cash (Money) can be deposited into a bank account. Gold is a valuable metal and there is no way a bank will accept that and deposit it into your account. However, you can always rent out a safety deposit locker with the bank and keep your gold in that for safekeeping.
Is the fixed deposit and term deposit same?
Yes. Fixed Deposit and Term Deposit both refer to the same thing. A deposit account is one in which you keep a fixed sum of money for a specific duration (Usually atleast a few months) based on an agreement with the bank. The bank does not expect you to withdraw funds regularly from this account and hence gives you a better interest rate.
If you have zero balance account in PNB branch can you deposit money in any other branch in same bank?
yes you can deposit money in any other branch of pnb 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
Can you open a new account with the same bank after a checking account has been closed?
I need to create a new checking account number for my pension deposit
Can you deposit cash at Indian overseas bank account without having sbi account?
i have put in my money in gulf country and same time transfer in tamilnadu Indian overseas bank account
What is Money put into an bank account called?
to deposit moneyA Deposit is the act of putting money into an account.
How do I find out that there was a deposit to my account?
Ask the bank.
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 is the general journal entry for cash deposit?
Cash deposit to bank has contra entry as follows: [Debit] Bank account [Credit] Cash account
