Demand deposit account
Investment accounts and certificates of deposit (CDs) are not considered DDAs because the bank is not obligated to return your money on demand, instead you must follow the bank's rules and you will receive your money back at the contracted time, sometimes with penalties for early withdrawal.
Related Fool Articles
Recent Mentions on Fool.com
- Tesla Motors, Inc.'s Model X: Sales to Surpass Model S?
- CIT Group Inc: A Host of Tailwinds Could Fuel Big Valuation Growth
- Should Conn?s Be Following Rent-A-Center and Aaron?s Lower?
- 2 Reasons BHP Billiton Could Get a Higher Price for These Assets
- Gold Miners Look for New Reserves at Home
- Fed Tapering: Who Cares?