A deposit that cannot to be withdrawn or transferred to third parties using some means of instruction (such as checks, telephone transfers, etc). Non-transaction deposits include time deposits and savings deposits. For example, savings deposits allow their holders to withdraw funds after the elapse of a stated period of time (e.g., 30, 60, 90, or 180 days). Nontransaction deposits are, thus, subject to restrictions to the capability of the depositor to transact using them. Such restrictions include transaction limitations and/or transaction fees that act to prevent the deposit account from being used as a primary transactional account.
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