If Martha sends the Fed a check to purchase this security, the funds in her checking account will be transferred to the Fed, making them appear to be nonexistent.
A checking account is a sort of bank account that enables simple deposits and withdrawals of cash for everyday use. For instance, you may use your debit card to withdraw cash, deposit a check you receive, or set up direct deposit to get your paychecks. One of the bank accounts with the easiest access to your money is a checking account. They frequently provide limitless deposits and withdrawals (however, depending on the bank, they could have daily maximums ranging between $300 and $5,000). A checking account's main function is to store your money in a safe location for a brief period of time, making it accessible when you need it to cover bills and other costs.
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