Checkable Deposits


DEFINITION of 'Checkable Deposits'

Any demand deposit account against which checks or drafts of any kind may be written. Checkable deposit accounts include checking, savings and money market accounts. They also include any kind of negotiable draft, such as a Negotiable Order of Withdrawal (NOW) or Super Now account.

BREAKING DOWN 'Checkable Deposits'

The Monetary Control Act of 1980 stipulates that all checks or check-like deposits made into a checkable account are added in the same category when calculating reserve requirements. Checkable accounts are offered by banks, credit unions and other savings and loan institutions, as well as most mutual fund companies.

  1. Liquid Certificate Of Deposit

    A certificate of deposit (CD) that allows withdrawls to be made, ...
  2. Brokered Certificate Of Deposit

    A certificate of deposit (CD) that is purchased through a brokerage ...
  3. Check

    A written, dated and signed instrument that contains an unconditional ...
  4. Deposit

    1. A transaction involving a transfer of funds to another party ...
  5. Bank

    A financial institution licensed as a receiver of deposits. There ...
  6. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. ...
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