A cheque account is a bank or building society account on which cheques can be drawn. In the United States, this type of account is known as a checking account. It is designed to provide easy access to funds for everyday transactions.
A demand deposit is an account balance that can be drawn upon without prior notice to the bank, utilizing various methods such as checks, cash withdrawals from ATMs, or electronic transfers.
A deposit account is a bank account that allows a person to deposit money and earn interest while keeping the funds accessible for withdrawals and transactions.
