BANK ACCOUNT, an account representing funds in the shape of cash, cheques, notes, drafts and coupons placed in a bank by an individual or an organization as a general deposit. Such deposits become the property of the bank. Thus the bank becomes a debtor to the depositor and the latter becomes a creditor of the bank and has a claim against it for the amount of the deposit and the right to demand the payment of all or any part of it. Bank accounts are usually either commercial accounts or savings ac counts. Commercial accounts generally represent demand deposits, that is, deposits which may be drawn out by cheque without no tice; but sometimes there are commercial time deposits, that is, funds placed in a bank subject to withdrawal only after a specified time or only after a certain notice to the bank of the intention to withdraw. Time accounts usually draw interest, but demand accounts seldom do in most countries. payment being prohibited by law in the U.S.A. Savings accounts represent funds placed with a bank for the purpose of accumulation. They are a species of time deposit in that while they are subject to withdrawal, banks almost invariably reserve the right to require 3o days' notice before a withdrawal is made. Savings accounts draw interest, which is added to the principal and cumulated. Such cumulation is usually quarterly, semi-annually or annually. Savings banks are banks specially chartered for handling savings accounts, though numbers of commercial banks have savings departments. (See BANKING AND CREDIT.)