passbook savings account

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Definitions from WordNet

Noun passbook savings account has 1 sense

passbook savings account - a savings account in which deposits and withdrawals are recorded in the depositor's passbook
--₁ is a kind of savings account

Definitions from the Web

Passbook Savings Account

Definition:

A passbook savings account is a type of basic bank account that allows individuals to deposit and withdraw money while keeping a physical passbook as a record of their transactions.

Part of Speech:

Noun

Senses:

A basic bank account allowing individuals to deposit and withdraw money
A physical passbook used to record transactions

Usage:

- Many people prefer passbook savings accounts over online banking due to the tangible record.
- I need to update my passbook savings account to keep track of my transactions.

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