DEMAND DEPOSITS

Checking accounts. A transactional deposit account held at a financial institution that allows for withdrawals and deposits. Money held in a checking account is very liquid, and can be withdrawn using checks, automated cash machines and electronic debits, among other methods. A checking account differs from other bank accounts in that it often allows for numerous withdrawals and unlimited deposits, whereas savings accounts sometimes limit both. Checking accounts can include business accounts, student accounts and joint accounts along with many other types of accounts which offer similar features. In exchange for the liquidity, checking accounts typically do not offer a high interest rate. A checking account may also be called a "demand account" or "transactional account" [see].

Case. Excellent HSBC product description (retail) [see]. Note the attached product features.

VIDEO. Business Checking Account Comparison [see]; Citibank Mobile Check Deposit [see].

Pricing I. There may be some monthly maintenance fees in the case of large checking accounts [see].

Pricing II. There is a price to pay for overdraft protection! SunTrust [see]: "It’s not uncommon to occasionally get caught short of funds in your checking, savings, or money market account. When that happens, it’s helpful to have a backup plan to avoid bouncing a check or getting stranded at the ATM. Overdraft Protection: Sign up for this service and we’ll link your checking, savings, or money market account to your other SunTrust accounts and transfer the necessary funds to cover any shortfalls. As long as you have sufficient funds in your linked accounts, you’ll pay only a single $12.50 transfer fee on the day the overdraft occurs.

Balance sheet. Liabilities. Depositary sources of funds (non-depositary sources: bonds, borrowing from other banks, discount borrowing from the central bank).

Type of banking. Retail / Corporate.

Size of the market. Retail deposits at US Commercial Banks, March 7 2012: $ 1.872.3 billion.
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