Definition
Transferable deposits are deposits that can be exchanged for cash on demand and at face value, and can be used directly to make payments by check, bill of exchange, money order, direct debit/credit, or other direct payment mechanisms, without penalty or restriction.
Further information
Transferable deposits fall under category 2.2 of the financial instruments classification, according to the European System of Accounts 2010, within category 2, ‘Cash and deposits’.
Classification of financial instruments (European System of Accounts 2010).
Related concepts
References
Update date: January 2025
