A transaction deposit is a bank account that is used to hold money that is available to be used for transactions. This type of account is typically used for checking accounts, savings accounts, and money market accounts. The money in a transaction deposit account is considered to be liquid, which means that it can be … Read more
Non-Sufficient Funds (NSF) is a term used to describe a situation where there are not enough funds available in a checking account to cover a check that has been written. When this occurs, the check will usually be returned by the bank unpaid. In some cases, the bank may choose to pay the check and … Read more
A share draft account is a type of checking account that is offered by a credit union. Share draft accounts typically have fewer fees than traditional checking accounts offered by banks, and they offer the same features and services such as online banking and bill pay. What are the three main types of checking accounts? … Read more
