Name
A transactional account is known as a checking (or chequing account) in North America, and as a current account or cheque account in the United Kingdom, Hong Kong, India and some other countries. Because money is available on demand it is also sometimes known as a demand account or demand deposit account (DDA), except in the case of NOW accounts in the U.S., which are technically distinct.
Read more about this topic: Transactional Account
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