Talk:Savings account

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Contents

[edit] Saving Accounts

"2. 'What is the main purpose of a savings account?'

The Special Purpose Savings Account is a deposit account for private entities to accrual money for a special purpose that receives interest income. The Special Purpose Savings Account is for a fixed period - from 6 months to 5 years, which each month is automatically supplemented by a fixed amount, using a"

USING A WHAT???

[edit] US jargon

A few examples:

  • M2 monetary aggregate
  • checkable deposits (demand deposits, ATS, NOW, and other checkable deposits) and "sweeping" such deposits into savings deposits (specifically, money market deposit accounts (MMDA)). Under the Federal Reserve's Regulation D, MMDA accounts are personal saving deposits and, hence, have a zero statutory reserve requirement.
  • Regulation D, 12 CFR 204.2(d)(2)
  • etc.

[edit] Rewrite

This whole article needs a rewrite! simonthebold 00:46, 17 March 2006 (UTC)

  • I agree! And I have just done that. The old version of the article was too technical and too specific to the United States. This version should be more international. -- AirOdyssey 00:28, 17 September 2006 (UTC)
But it's also incorrect. (In what country are withdrawals from savings accounts, not CDs, costly???) Therefore, the previous article was reinstated, with some edited to specify the US centric information. The solution to US-centrism is to add info about other countries, not delete information. Calwatch 04:02, 29 September 2006 (UTC)

[edit] 預金

What page would be the appropriate place to list Japanese yokin (預金?) accounts? The official translation of the name yokin is savings account, but you use it as a current account, in the sense that you are issued a cash card, you make bank transfers using the account (automatic as well as non-automatic) and you may be (upon request) be issued a cheque book for the account. So they fit in purpose to Current account (banking) but in name to Savings account. (Stefan2 22:12, 5 June 2007 (UTC))

A person cannot write a cheque on a savings account in the United States, but the account often includes a cash card and allows a limited number of transfers. See if demand account fits better. --SueHay 02:38, 6 June 2007 (UTC)