What does CD stand for banking?

Answer 1

A CD is a Certificate of Deposit, which is a financial product that pays a higher rate than a traditional savings account in exchange for an agreement that the deposit will remain in the bank for a fixed period of time. Periodic statements are not typically issued for a CD. Some banks such as Bank of America offer a hybrid or flexible savings plan that combines elements of a savings account and a CD. With these accounts, it is possible that a monthly or quarterly statement would be issued.

Answer 2

The abbreviation "CDM" on a bank statement typically stands for "Cash Deposit Machine". A Cash Deposit Machine is a self-service kiosk that allows bank customers to deposit cash into their account without having to visit a bank teller. The machine counts the cash and credits the deposited amount to the customer's account. If you see "CDM" on your bank statement, it means that you deposited cash using a Cash Deposit Machine.The abbreviation "CDM" on a bank statement typically stands for "Cash Deposit Machine". A Cash Deposit Machine is a self-service kiosk that allows bank customers to deposit cash into their account without having to visit a bank teller. The machine counts the cash and credits the deposited amount to the customer's account. If you see "CDM" on your bank statement, it means that you deposited cash using a Cash Deposit Machine.

Answer 3

what does CDM stand for on a bank statement

Answer 4

Certificate of Deposit