@user61673 , while generally agreeing with my colleague @SusanY1 , would just like to point out that
(a) most bank accounts are "deposit" accounts because these are accounts wherein you can deposit/ withdraw monies, whether these are checking o savings in nature.
(b) a custodial account however is one in which you are holding monies for another such as when a brokerage sells your stocks for you and holds the proceeds in a custodial account i.e.. an account held for a specific purpose such as for re-investment or distribution to the owner. Another use of custodial account is when a custodian holds and operates the account of a minor ( i.e. for the benefit of the minor whom cannot operate the account.
For purposes of form 8939 ( FATCA) , monies held in deposit and/or custodial accounts are all aggregated for reporting threshold.
Does this answer your query? If so please accept the answer ( so the thread gets closed) . Or tell me what more I can do for you to earn that --yes?
pk
