Payment Glossary

Demand Deposit Account

Traditional savings and checking accounts are generally demand deposit accounts.

Related Terms

  • Automated Teller Machine (ATM)

    An automated teller machine (ATM) is a device that allows for the withdrawal of cash without the need of a human teller or cashier.

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  • Payment Gateway

    A payment gateway is an application service provider that authorizes credit card and electronic check payments for businesses. A payment gateway facilitates the transfer of information between...

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