![cover image](https://wikiwandv2-19431.kxcdn.com/_next/image?url=https://upload.wikimedia.org/wikipedia/commons/thumb/8/8d/Community_Noun_project_39956.svg/640px-Community_Noun_project_39956.svg.png&w=640&q=50)
Deposit account
Bank holding into and from which money can be placed or withdrawn / From Wikipedia, the free encyclopedia
"Deposits" redirects here. For other uses, see Deposit (disambiguation).
A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below.
![]() | The examples and perspective in this article may not represent a worldwide view of the subject. (April 2016) |
Transactions on deposit accounts are recorded in a bank's books, and the resulting balance is recorded as a liability of the bank and represents an amount owed by the bank to the customer. In other words, the banker-customer (depositor) relationship is one of debtor-creditor. Some banks charge fees for transactions on a customer's account. Additionally, some banks pay customers interest on their account balances.