Why are funds in checking accounts called demand deposits

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asked Feb 12, 2020 133k views

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Kamil Zadora · Answer 1 · 2020-02-18T02:21:47+0000

These are the amounts held in checking accounts. They are called demand deposits or checkable deposits because the banking institution must give the deposit holder his money “on demand” when a check is written or a debit card is used.

Why are funds in checking accounts called demand deposits

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