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'If a customer wishes to open a cash account in his name only and allow a third party to make trading decisions but not withdraw cash and securities, he must instruct his broker-dealer to open a cash account with limited power of attorney.
In business practice, a cash account means a business-to-business or business-to-consumer account maintained on an immediate payment basis. H. Credits are not provided.
A cash account is a type of custody account that requires an investor to deposit the full amount of securities purchased. An investor with a cash account cannot borrow money from a brokerage firm to pay for transactions on the account (margin trading).
In accounting, a cash account or cash book can refer to a general ledger that records all cash transactions. Cash accounts include both cash receipts and cash payments.
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