Bank Checking & Savings Accounts
A transaction account, checking account, or demand deposit account is a deposit account held at a bank or other financial institution which is available to the account owner “on demand” and is available for frequent and immediate access by the account owner or to others as the account owner may direct. Access may be in a variety of ways, such as cash withdrawals, use of cheques and debit by electronic transfer. In economic terms, the funds held in a transaction account are regarded as liquid funds.
Transaction accounts are generally used for the business or personal convenience of the account holder. They normally do not earn any or a high interest and the financial institution that maintains the account commonly charges account maintenance or transaction fees to the account holder.
Saving accounts (UK: savings accounts) are accounts maintained by retail financial institutions that pay interestbut cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing acheque). These accounts let customers set aside a portion of their liquid assets while earning a monetary return. For the bank, money in a savings account may not be callable immediately and, in some jurisdictions, does not incur a reserve requirement. Cash in the bank’s vaults may thus be used, for example, to fund interest-payingloans.
The other major types of deposit account are the transactional account (usually known as a “checking” (US) or “current” (UK) account), money market account and time deposit.
Guthrie
Guthrie is a city and county seat in Logan County, Oklahoma, United States, and a part of the Oklahoma City Metroplex. The population was 10,191 at the 2010 census, a 2.7 percent increase from the 9,925 at the 2000 census.[5]
First known as a railroad station stop, after the April 1889 land run, Guthrie immediately gained 10,000 new residents who began to develop the town. It was rapidly improved and was designated as the territorial capital, and in 1907 as the first state capital of Oklahoma. In 1910 state voters chose the larger Oklahoma City as the new capital in a special election.
Guthrie is nationally significant for its collection of late 19th and early 20th century commercial architecture. The Guthrie Historic District includes more than 2,000 buildings and is designated as a National Historic Landmark. Historic tourism is important to the city, and its Victorian architecture provides a backdrop for Wild West and territorial-style entertainment, carriage tours, replica trolley cars, specialty shops, and art galleries.