Still waiting to hear exactly what a deposit account is, how they work, etc. In the mean time, looks like a hiccup there for a bit, but making your way back up.
I thought you said you are going to research on it ? Here is what Wikipedia says Time deposit - Wikipedia
What is the hiccup you referring to?
I did research, as I already posted, everything I found lumped savings accounts in, as you can deposit to them, and asked you to explain what the specific ones you were talking about was.
Edit: I looked at that wiki-link you posted and saw nothing about how specifically they calculate the interest rate used on that type of account, just that it is usually larger than a savings account. I guess then it is up to the customer and the bank to figure out how the interest on an account is calculated, because the banks here, even on CDs (our version of Time Deposits in the U.S.) use compounded interest, varied among when it is calculated (daily, monthly, annually, etc.). Some do it yearly, which on multi-year CDs would add to the balance it is calculated on, but even if it is calculated annually only, that addition of interest becomes a part of the balance the next time the interest is calculated, which falls under compounded interest. The only way it wouldn’t be is if the account was set up to withdraw any interest earned on the deposit.
Hiccup below.
You are totally correct on all counts.
No updates for a week now bro. Hope nothing bad has happened.
Maybe my disputing his claims on some things upset him. But I hope it is going well with the trades as well.
