Demand deposit account vs. direct debit authorization Note that direct debit authorization, also commonly abbreviated as “DDA,” is a separate concept from demand deposit accounts.

While demand deposit accounts let you withdraw money at any time, time deposit accounts require a maturity period before you can withdraw funds. The most popular type of timed deposit account is a ...

Six commercial banks all announced that they had lowered the rate for demand deposits, essentially a checking account, to 0.2 percent from 0.25 percent.