Payment Glossary

Demand Deposit Account

Traditional savings and checking accounts are generally demand deposit accounts.

Related Terms

  • Originator

    As it relates to check processing, the originator is the person who originally wrote a check.

    Learn More
  • POS (Point-of-Sale)

    A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. POS transactions are generally initiated with a...

    Learn More