Transaction account,

Definition of Transaction account:

1. Deposit account from which its holder can make withdrawals or make transfers to third parties through checks, drafts, online transfers, etc.

How to use Transaction account in a sentence?

1. The transaction account was used in the contract as transferring funds from our other accounts would be sub-optimal according to our accounting department.
2. You should always know what is going on in the transaction account so that you are up to speed on your finances.
3. The Chief Financial Officer had to make sure that sufficient funds were available in the transaction account before making an offer on the new building.