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t. e. A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw [ []]. Deposit accounts can be savings accounts, [ [Transaction account#|]]s or any of several other types of accounts explained below. Transactions on deposit accounts are recorded in a bank's books, and the resulting ...
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A savings account is a bank account at a retail bank. Common features include a limited number of withdrawals, a lack of cheque and linked debit card facilities, limited transfer options and the inability to be overdrawn. Traditionally, transactions on savings accounts were widely recorded in a passbook, and were sometimes called passbook ...
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