A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below.
The examples and perspective in this article may not represent a worldwide view of the subject. (April 2016)
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Transactions on deposit accounts are recorded in a bank's books, and the resulting balance is recorded as a liability of the bank and represents an amount owed by the bank to the customer. Some banks charge fees for transactions on a customer's account. Additionally, some banks pay customers interest on their account balances.