One of the mysteries of the English language finally explained.
A deposit of money that can be withdrawn without prior notice, e.g. in a current account.
- ‘Finally, I would advise Fiona to simply lodge her redundancy cheque to a demand deposit account and not to invest it until she has secured another job.’
- ‘Many financial institutions offer derisory returns of 0.1 per cent or slightly more on demand deposit accounts.’
- ‘An individual can exercise his demand for money either by holding it in his pocket or in his house or by placing it in the custody of a bank in a demand deposit or even in a safe deposit box.’
- ‘Do nothing - except put the money in an easily accessible demand deposit account.’
- ‘Money will move from Joe's demand deposit account to a money market demand deposit account with a bank.’
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