Bank Checking & Savings Accounts
A transaction account, checking account, or demand deposit account is a deposit account held at a bank or other financial institution which is available to the account owner “on demand” and is available for frequent and immediate access by the account owner or to others as the account owner may direct. Access may be in a variety of ways, such as cash withdrawals, use of cheques and debit by electronic transfer. In economic terms, the funds held in a transaction account are regarded as liquid funds.
Transaction accounts are generally used for the business or personal convenience of the account holder. They normally do not earn any or a high interest and the financial institution that maintains the account commonly charges account maintenance or transaction fees to the account holder.
Saving accounts (UK: savings accounts) are accounts maintained by retail financial institutions that pay interestbut cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing acheque). These accounts let customers set aside a portion of their liquid assets while earning a monetary return. For the bank, money in a savings account may not be callable immediately and, in some jurisdictions, does not incur a reserve requirement. Cash in the bank’s vaults may thus be used, for example, to fund interest-payingloans.
The other major types of deposit account are the transactional account (usually known as a “checking” (US) or “current” (UK) account), money market account and time deposit.
Capitola
Capitola is a city in Santa Cruz County, California, United States, on the coast of Monterey Bay. The population was 9,918 at the 2010 census.
The original settlement now known as Capitola grew out of what was then called Soquel Landing. Soquel Landing got its name from a wharf located at the mouth of Soquel Creek. This wharf, which dates back to the 1850s, served as an outlet for the produce and lumber grown in the interior. In 1865, Captain John Pope Davenport, a whaleman at Monterey, moved his operations to be near the wharf. Unable to capture any whales, he moved his operations the following year to Point Año Nuevo.[4][5]
In 1869, Frederick A. Hihn, who owned the property in the vicinity of the wharf, decided to develop it as a seaside resort. At first he leased the area to Samuel A. Hall and the area became known as Camp Capitola. Most authorities believe that it was Hihn who chose the name of Capitola, but they are unsure as to why he did so. Several possibilities have been asserted, one being that it was named for the heroine of The Hidden Hand, a novel by the popular author E.D.E.N. Southworth, favored by Hall’s daughter Lulu. Capitola is known as the oldest beach resort on the West Coast.[6]
Capitola is a popular tourist town because of its trendy shops and restaurants on the shore directly connecting to a fishing wharf and its large, sandy beach.
Capitola lies west of the census-designated area of Aptos and east of the census-designated place of Live Oak.