A transactional account is a deposit account held at a bank or other financial institution which can be accessed "on demand" and available for frequent and immediate access in a variety of ways, such as cash withdrawals, use of cheques and debit by electronic transfer.
A transactional account is a deposit account held at a bank or other financial institution which can be accessed by the account owner "on demand" and available for frequent and immediate access by the account owner or to others as the account owner may direct. Access may be in a variety of ways, such as cash withdrawals, use of cheques and debit by electronic transfer.