passbook savings account

passbook savings account
a type of savings account in which transactions are entered into a passbook in the possession of the account holder. Cf. statement savings account.

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Universalium. 2010.

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Look at other dictionaries:

  • passbook savings account — noun a savings account in which deposits and withdrawals are recorded in the depositor s passbook • Hypernyms: ↑savings account * * * a type of savings account in which transactions are entered into a passbook in the possession of the account… …   Useful english dictionary

  • savings account — noun a bank account that accumulates interest • Hypernyms: ↑bank account • Hyponyms: ↑time deposit account, ↑deposit account, ↑dormant account, ↑passbook savings account * * * noun, pl ⋯ counts [count] …   Useful english dictionary

  • Savings account — Savings accounts are accounts maintained by retail financial institutions that pay interest but can not be used directly as money (by, for example, writing a cheque). These accounts let customers set aside a portion of their liquid assets while… …   Wikipedia

  • statement savings account — a savings account in which transactions are confirmed periodically by a bank statement. Cf. passbook savings account. * * * …   Universalium

  • statement savings account — a savings account in which transactions are confirmed periodically by a bank statement. Cf. passbook savings account …   Useful english dictionary

  • Ninety-Day Savings Account — A type of passbook savings account that guarantees a fixed rate of interest for 90 days from date of deposit to date of withdrawal. Upon maturity, account holders can either close the account and withdraw their funds or roll the accrued balance… …   Investment dictionary

  • statement savings account — A savings account which does not provide the depositor with a passbook. Instead, the depositor receives a monthly or quarterly statement from the bank. American Banker Glossary …   Financial and business terms

  • savings account — noun Date: 1911 an account (as in a bank) on which interest is usually paid and from which withdrawals can be made usually only by presentation of a passbook or by written authorization on a prescribed form …   New Collegiate Dictionary

  • Passbook Loan — A personal loan extended to a savings account holder by the custodial bank. Passbook loans use the balance of the savings account as collateral for the loan. The amount of the loan therefore cannot exceed the savings account balance. Passbook… …   Investment dictionary

  • Passbook — This article is about the bank document. For the former South African passbooks, see Pass laws. Sample passbook (open), containing the same transactions as the bank statement A passbook or bankbook is a paper book used to record bank transactions …   Wikipedia

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