Tell me which explanation describes a checking account: You put money in an account, but the account rules say you can only withdraw the money after getting permission from a bank employee. You put money in an account and are allowed to draw it out at any time. You put money in an account and you can take it out as soon as you turn 21.

Question

Adalyn

Mathematics

3 January, 01:33

Tell me which explanation describes a checking account: You put money in an account, but the account rules say you can only withdraw the money after getting permission from a bank employee. You put money in an account and are allowed to draw it out at any time. You put money in an account and you can take it out as soon as you turn 21.

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Answers (1)

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Josephine Strong · Answer 1

You put money in an account and are allowed to draw it out at any time.

Step-by-step explanation:

Checking account is also known as demand deposit account.

It is an account in which a person that is the account holder is allowed to deposit or withdraw money from their account as per their discretion.

There is not limit on the number of deposits and withdrawals and the holder can withdraw money at any time either through the checks or through the ATM's that is the automatic vendor machines, electronic debits as well as other methods.