A demand deposit is a number on a piece of paper. Actually, today, the number is more likely stored electronically. The principle, however, is the same. A demand deposit is a value, denominated in some currency, that can be converted to currency or moved to another account on demand. Demand deposits are also called checkable deposits because the normal method of transferring the balance is through writing a check. The check is not money, but the balance is. | 
