Why are demand deposits considered as money - Social Science - Money and Credit

Question

Why are demand deposits considered as money

Juhi Grover · Accepted Answer

Deposits in a bank which are payable on demand
are called demand deposits They are considered as money because of the
following factors

i) They can be used as a medium of
exchangeii)
They are easily acceptableiii)
They help in settling payment without the use of
cash