A demand deposit is a bank deposit that the depositor can deposit, withdraw and transfer at any time without any prior notice.
It takes the form of checking deposit account, certified check, cashier's check, traveler's check and letter of credit. Demand deposits account for the largest portion of a country's money supply and are also an important source of funds for commercial banks. Demand deposits not only function as a means of monetary payment and circulation, but also have strong derivation capabilities, which are the focus of commercial bank operations.
The interest rates on demand deposits are generally low; commercial banks in Western countries generally do not pay interest, and some even charge a certain handling fee.
1. Current deposit is a service with no limit on the deposit period. With a bank card or passbook and a reserved password, you can deposit and withdraw cash at any time through the counter or through the bank's self-service equipment during bank business hours.
2. The minimum deposit amount for RMB demand deposits is RMB 1, and the minimum deposit amount for foreign currency demand deposits is the equivalent of no less than RMB 20 in foreign exchange. ?
Types of deposits
① Currency income that is not temporarily used for consumption expenditures.
② Prepare accumulated currency for purchasing large-scale durable consumer goods.
③The operating working capital of self-employed households shall be deposited in the bank in the form of current savings before the bank solves problems such as account opening and transfer.
Service Features
1. Deposit and withdrawal: Customers can deposit and withdraw RMB cash at bank outlets and self-service equipment nationwide with their bank cards, and passbooks with reserved passwords can be deposited and withdrawn at banks in the same city. Deposit and withdraw cash at the branch. You can also apply for card-free (discount) renewal business in the same city.
2. Flexible funds: customers can use and withdraw funds at any time, and the funds are highly liquid.
3. Convenient payment: Customers can set their current deposit account as a payment account, and the bank will automatically pay various daily expenses on their behalf.