what are the advantages of demand deposit accounts 
with demand deposit accounts the funds are always readily available you can withdraw the funds in form of the cash or to pay for something using a debit card or online transfer at any time without giving the bank notice or incurring a penalty or paying fees they offer the utmost convenience for getting cash or transferring funds to another account or another party the bottom lineoffered by banks and credit unions demand deposit accounts allow you to deposit to and withdraw funds immediately whenever you want on demand in effect the financial institution can t require advance notice or charge a fee for letting you access the funds ideal for frequent or everyday needs ddas usually take the form of checking or savings accounts the main drawback of ddas is that they offer little or no interest in the money in them that s the price you pay for the funds being readily available 