ExternalCashAccountType1Code Data Type

Account used to post debits and credits when no specific account has been nominated.

Account used for the payment of cash.

Account used for charges if different from the account for payment.

Account used for payment of income if different from the current cash account

Account used for commission if different from the account for payment.

Account used to post settlement debit and credit entries on behalf of a designated Clearing Participant.

Account used for savings with special interest and withdrawal terms.

Account used for loans.

Account used for a marginal lending facility.

Account used for money markets if different from the cash account.

Account used for non-resident external.

Account is used for overdrafts.

Account used for overnight deposits.

Account not otherwise specified.

Account used to post debit and credit entries, as a result of transactions cleared and settled through a specific clearing and settlement system.

Accounts used for salary payments.

Account used for savings.

Account used for taxes if different from the account for payment.

A transacting account is the most basic type of bank account that you can get. The main difference between transaction and cheque accounts is that you usually do not get a cheque book with your transacting account and neither are you offered an overdraft facility.

Account used for trading if different from the current cash account.