In banking, the acronym DDA stands for 'Demand Deposit Account' which is just another term for 'Checking Account'. DDA Debit is a debit transaction from that account which could be a withdrawal, transfer, payment, or purchase.2020-04-02
Where does a DDA deposit come from?
A demand deposit account (DDA) is a bank account from which deposited funds can be withdrawn at any time, without advance notice. DDA accounts can pay interest on the deposited funds but aren't required to. Checking accounts and savings accounts are common types of DDAs.2021-03-31
Is DDA checking account?
A demand deposit account is just a different term for a checking account. ... Most demand deposit accounts (DDAs) let you withdraw your money without advance notice, but the term also includes accounts that require six days or less of advance notice.2017-01-23
What does debit mean on a bank statement?
When your bank account is debited, money is taken out of the account. The opposite of a debit is a credit, in which case money is added to your account. Your account is debited in many instances.