Westamerica is a community bank with a focus on transaction accounts and personal service.

This includes deposit taking, transaction accounts, credit cards, mortgages, and other lending.

This is because transaction accounts will have more frequent drawing of funds (hence the need for a reserve).

An everyday savings account (or transaction account) is fine for paying your earnings into.

Effective December 29, 2011, institutions with net transactions accounts:

A depository institution's reserve requirements vary by the dollar amount of net transaction accounts held at that institution.

Now, Mr. Sandler said, the company is studying the possibility of offering traditional checking and other transaction accounts.

Transaction accounts, reserves, statements, credit cards.

The only deposit categories currently subject to reserve requirements are net transactions accounts, mainly checking accounts.

The concept usually involves a type of loan that allows the borrower to use the loan as their day-to-day transaction account.

The decision to cut reserves on checking and other transaction accounts will allow banks to invest some $8 billion to $9 billion that was not earning income.

IMB offers home loans, personal loans, savings and transaction accounts, term deposits, business banking, financial planning and a range of insurance products.

"Many times, a transaction account is the best," acknowledged Debra Jorgensen, a financial analyst and adviser in the San Francisco office of Merrill Lynch.

Its products in Australia include Transaction accounts, Savings accounts, Business accounts, Term deposits and Home loans.

The CCA is designed to both be the source of funds for stock trading and also an everyday transaction account, with a linked debit MasterCard.

The United States Congress granted all thrifts in 1980, including savings and loan associations, the power to make consumer and commercial loans and to issue transaction accounts.

The total amount of all net transaction accounts held in USA depository institutions, plus US currency held by the nonbank public, is called M1.

Believing that the distinctions between banks and savings and loans will continue to disappear in coming years, both Ahmanson and Great Western are pushing to get more transaction accounts from customers.

And Tuesday, the State Commissioner of Banking, Howard B. Brown, rescinded a Jan. 4 order that gave the city 30 days to remove its transaction accounts from the bank.

"For many consumers, it is very difficult to maintain a transaction account in a bank," said Richard M. Kessel, executive director of the New York State Consumer Protection Board.

Section 313.12 generally prohibits you from disclosing credit card, deposit, or other transaction account numbers "for use in telemarketing, direct mail marketing, or other marketing through electronic mail to the consumer."

For Westpac savings or transaction accounts, withdrawals in a foreign country using ATMs not listed above incur the A$5 Overseas ATM Cash Withdrawal Fee.

Thereafter section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act will provide a similar transaction account insurance, from December 31, 2010 through December 31, 2012.

The second, M2, includes M1 plus balances that generally are similar to transaction accounts and that, for the most part, can be converted fairly readily to M1 with little or no loss of principal.

Products such as savings accounts, transaction accounts, insurance, and payments services are crucial for small businesses early on when credit is usually difficult to obtain due to deficient credit history or lack of collateral.