High interest deposit account

If access is immediate, money can be withdrawn from the account immediately ie on demand.

Some bank accounts are ‘Notice’ accounts meaning that if you want to withdraw money you have to give the bank notice (ie tell them in advance) that you want to withdraw money. For example a One Month Notice account means that you would have to tell the bank how much you want to take out 1 month before you take the money. Usually notice accounts pay higher rates of interest because it is easier for the bank to plan and manage its own cash flows.