Talk:Demand account
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[edit] Merge
I suggest the merger from Current account (banking). Every country has its own particular features for a demand account, no matter what it's called: checking account, current account, etc. I don't see the need to be overly specific about the UK and Commonwealth countries. I recently improved this article, and included all the basics about the UK current account, hoping it now portrays an international view. -- AirOdyssey 00:08, 17 September 2006 (UTC)
- I feel the concept of a single article has merit, however the title would have to be different. "Demand account" is meaningless in a UK context. From my investigations is seems to me that the US system is bound up in its own peculiar terminology and is quite different in practice. I'm not sure about the Canadian system?
- Current account is the generic term as far as I'm concerned. I created the article because lots of references mis-linked to current account article in the context of macro-economics. I'm not convinced that there are sufficient similarities in 'demand accounts', 'checking accounts' and the like to merit a single title. simonthebold 13:21, 17 September 2006 (UTC)
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- Current account (banking) and demand account are very similar at this moment. The main differences are that a current account offers services such as standing orders, BACS and CHAPS, and offset mortgage, that do not exist outside the UK or the Commonwealth. To me, it's almost as if we made one article for "cheque" and another for "check", simply because it's the American English spelling and because the cheques don't look the same. -- AirOdyssey 14:45, 17 September 2006 (UTC)
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- Why dont we move this all to Bank account and do a disambiguation at the top for Loan a/c and Savings a/c, would Bank account satisfy everyone? Struck me that we could aviod this question of article title with something understood more universally? Ian3055 22:20, 19 September 2006 (UTC)
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- I think "Bank account" is too vague to do an article. However, a disambiguation page, a little like Bank card, would be fine, in my opinion. -- AirOdyssey 23:52, 19 September 2006 (UTC)
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- I've written the article bank account, which was needed I think. How about - transactional account - a name that describes the purpose? simonthebold 00:32, 20 September 2006 (UTC)
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[edit] Globalize
Simon123, you suggested to globalize the Interest section. Are there any particularities about how interest is paid on a demand account in the United Kingdom or, as it is called there, a current account? I'm only familiar with Canadian bank accounts. -- AirOdyssey 00:34, 18 September 2006 (UTC)
- In the UK nearly all personal current accounts pay interest, most business current acounts do not. Also virtually all current accounts offer free banking, ie. they do not charge for services credits, debits, etc. The range of interest vaires. The big four banks, Lloyds TSB, Barclays, Natwest and HSBC pay 0.1% interest on their standard current accounts. Other banks, especially those internet current accounts and some building societies pay upto 4.75% for credit balances.
- Whilst were discussing differences, I'm unsure how other countries view overdrafts. I added the UK section in the overdraft article; compare this to the overdraft protection whith gives the US view. There seems to be a significant cultural difference in the way nations approach banking probably based on historical development of the banking systems. I'd be interested in the Canadian approach.
- simonthebold 13:02, 18 September 2006 (UTC)
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- The service charge section of the article explains mostly the Canadian approach. Nearly all banks and credit unions charge for transactions on a chequing account. Most will waive fees if you keep a minimum average monthly balance. Only virtual banks and certain credit unions will not charge any fees whatsoever. I should add what you said on the demand account article. -- AirOdyssey 00:12, 19 September 2006 (UTC)
[edit] Confusing acronyms
Do most US citizens or Canadians readily understand what ETFPOS means? It will cause confusion in the UK as we are familiar with the phrase and concept of a 'debit card'. Would North Americans not understand 'debit card'? simonthebold 08:39, 19 September 2006 (UTC)
- EFTPOS is the acronym. And there's a wikilink. And the word "debit card" is there too. And by the way, we, Canadians, have no true debit cards (like a Visa or MasterCard attached to a bank account). To buy in a store without using cash, we use an ATM card, which some of us nickname a "debit card." -- AirOdyssey 11:58, 19 September 2006 (UTC)
[edit] question
Is there a minimum age in the US where someone can have a checking account? I think it would be interesting to know because I wanted to open one but never did before I was eighteen.
[edit] answer
You can open one with a parent's name on the account if you are under 18.
[edit] Move Request
It was requested that this article be renamed but the procedure outlined at WP:RM#Steps for requesting a controversial page move did not appear to be followed, and consensus could not be determined. Please request a move again with proper procedure if there is still a desire for the page to be moved. Thank you for your time! -- tariqabjotu 20:52, 7 November 2006 (UTC)
