Definition of deposit

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TeachMeFinance.com - explain deposit



deposit -- (1) the placement of funds into an account at a institution in order to increase the credit balance of the account. (2) that which is deposited. (3) a sum of money given to assure the future purchase of something. (4) a portion of the purchase price given as earnest money, or a down payment, by the buyer to the seller.

historic definition...

Deposit -- A deposit in a bank is money (or checks, drafts, etc.) placed in the bank to the credit of the one so placing or depositing it. A general deposit with a bank is a deposit received and placed with the funds of the bank to be loaned to customers and used in the general business with other funds of the bank. A special deposit is a deposit for safe keeping; to be kept as received until called for.



About the author

Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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