4.3 Deposits and Accounts of the Customer

The demand deposit and current account: the demand deposit = the repayable-on-demand (the current account's home: the business account — the unlimited deposits-and-withdrawals, the cheque facility, the no-interest tradition (the service charges' economy)); the current account's operation (the mandates, the overdrafts' facility). The saving deposit and account: the household savings (the interest-bearing, the withdrawal faces (the frequency's discipline — the classical restrictions' modern dilution)); the small-saver's institution (the inclusion's instrument). The term deposit and account: the fixed deposit (the term's lock (the maturity's repayment; the interest the term's price)); the premature-withdrawal faces (the penalty's craft); the renewal (the roll-over); the certificate (the term-deposit receipt — the security's use (Unit 6.3)). 4.3.2 Combining of accounts: the set-off's home — the banker's combining of the customer's accounts (the credit-in-one, the debit-in-other: the net position's adjustment); the conditions (the same customer, the same right, the maturity's due — the notice-and-contract faces); the combining's limits (the trust accounts (the third party's money — the no-set-off); the secured-and- unsecured mix). 4.3.3 Passbook and statements of account: the passbook (the record's classic (the customer's copy — the entries' evidence; the negligence's discovery faces)); the statement of account (the periodic record (the modern standard)); the customer's duty (the statement's examination — the errors' prompt-report duty (the negligence's consequence: the customer barred who lets the forgery pass)); the…