Demand Deposit. (savings deposit)
10.4.1 With a demand deposit, the depositor may as necessary dispose the amount existing on the deposit account. The depositor is authorized to withdraw or add amounts to the deposit, under terms envisaged by the respective agreement.
10.4.2 The interest rate shall be accrued to the balance existing in the deposit account by the end of each transaction day.
10.4.3 It is possible to place/withdraw funds from the demand deposit directly from the deposit account. The amount can be transferred from the demand deposit account only to the client’s own account(s).
10.4.4 Interest rate accrued on the demand deposit shall be transferred to the account indicated by the depositor once a month, on the last day of each calendar month. The interest rate can be deposited in the deposit account as established by the respective agreement.
Demand Deposit. A checking account is a demand deposit account. This means we do not reserve the right to require notice before withdrawal from these accounts. We do not pay interest on a checking account.
Demand Deposit. BANK ACCOUNTS - To open and operate an account or accounts in the name of the Fund, subject only to draft or order by the Custodian, and to hold in such account or accounts as a deposit accepted on the Custodian's books cash, including foreign currency, received for the account of the Fund other than cash held as deposits with Banking Institutions in accordance with the following paragraph. The responsibilities of the Custodian for cash, including foreign currency, of the Fund accepted on the Custodian's books as a deposit shall be that of a U. S. bank for a similar deposit. If and when authorized by proper instructions, the Custodian may open and operate an additional account(s) in such other banks or trust companies as may be designated by the Fund in such instructions (any such bank or trust company so designated by the Fund being referred to hereafter as a "Banking Institution"), and may deposit cash, including foreign currency, of the Fund in such account or accounts, provided that such account(s) (hereinafter collectively referred to as "demand deposit bank accounts") shall be in the name of the Custodian or a nominee of the Custodian for the account of the Fund or for the account of the Custodian's customers generally and shall be subject only to the Custodian's draft or order; provided that any such demand deposit bank account shall contain only assets held by the Custodian as a fiduciary or custodian for the Fund and/or other customers and that the records of the Custodian shall indicate at all times the Fund and/or other customers for which such funds are held in such account and the respective interests therein. Such demand deposit accounts may be opened with Banking Institutions in the United States and in other countries and may be denominated in either U. S. Dollars or other currencies as the Fund may determine. The records for each such account will be maintained by the Custodian but the deposits in any such account shall not constitute a deposit liability of the Custodian. All such deposits, including with Subcustodians, shall be deemed to be portfolio securities of the Fund and accordingly the responsibility of the Custodian therefor shall be the same as and no greater than the Custodian's responsibility in respect of other portfolio securities of the Fund. The authorization by the Fund to appoint a Subcustodian as such shall also constitute a proper instruction to open a demand deposit bank account subject to the provisions of this paragr...
