transactional account

English - English

Definition of transactional account in English English dictionary

A transactional account (North America: checking account or chequing account, United Kingdom and some other countries: current account or cheque account) is a deposit account held at a bank or other financial institution, for the purpose of securely and quickly providing frequent access to funds on demand, through a variety of different channels. Because money is available on demand these accounts are also referred to as demand accounts or demand deposit accounts

Hyphenation

trans·ac·tion·al ac·count