Demand Deposit Account

A demand deposit account is a type of bank account from which deposited funds can be withdrawn at any time without any advance notice to the bank. These accounts typically include standard checking and savings accounts, which are among the most common forms of bank accounts used by individuals and businesses alike.

Demand deposit accounts are foundational to modern financial systems, offering a versatile tool for managing money in both personal and business contexts. They cater to the need for immediate access to funds while providing a secure environment for money storage.