Demand deposit accounts (DDAs) may havejoint owners. Both owners must sign when opening the account, but only one owner must sign when closing the account. Either owner may deposit or withdraw funds and sign checks without permission from the other owner. Some banks require minimum balances for...
A demand deposit account (DDA) is any account set up to give customers a no withdraw limit and on-demand access to their money. The most common types of DDAs can be found in some checking and saving accounts.What is a Demand Deposit? A deposit is when a customer is placing funds insid...