Defined in the UCC as a demand, time, savings, passbook, or similar account maintained with a bank; the term does not include investment property or accounts evidenced by an instrument (UCC § 9-102(a)(29)). A deposit account is an asset type over which an entity can grant a security interest under Article 9 of the UCC.

A security interest in a deposit account cannot be perfected by filing a UCC-1 financing statement. For information on creation and perfection of security interests in deposit accounts, see Practice Note, UCC Creation, Perfection, and Priority of Security Interests.