A transactional account (
North America: checking account or chequing account,
United Kingdom and some other countries: current account or cheque account) is a
deposit account held at a
bank or other
financial institution, for the purpose of securely and quickly providing frequent access to funds on demand, through a variety of different channels. Because money is available on demand these accounts are also referred to as demand accounts or demand deposit accounts.
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Deposits held at banks which the owner can withdraw instantly upon demand-either by check or electronically.
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