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payable on demand

payable on demand ECON.

payable on demand ECON.

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The cash credit account is similar to current accounts as it is a running account (i.e., payable on demand) with cheque book facility. en.wikipedia.org

Proposals for full reserve banking systems generally do not place such restrictions on deposits that are not payable on demand, for example time deposits or savings accounts. en.wikipedia.org

A "draft" is a bill of exchange which is not payable on demand of the payee. en.wikipedia.org

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