Information about deposit in the dictionary, synonyms and antonyms. Bank deposit definition, money placed in a bank against which the depositor can withdraw under prescribed conditions. The english property loans account for as much as 28 per cent of its current loan book. A time deposit is an interestbearing deposit held by a bank or financial institution for a fixed term whereby the depositor can withdraw the funds only after giving notice. Bank an institution that provides a great variety of financial services. This effectively involves transferring the banks loan book or part of it to a. Bank of deposit definition of bank of deposit by merriam. These deposits are made to deposit accounts such as savings accounts. Ebank definition in the cambridge english dictionary. A book held by a depositor in which his or her deposits and withdrawals are recorded by the bank.
Let us help take the hassle out of bank visits by setting your business up with the right checking deposit slips. Thus, a deposit account is a bank account that pays interest but that imposes the requirement of notice or a penalty in terms of interest before withdrawal can be effected. Entries in the cash book are then posted into the general. A register that includes both deposits and withdrawals. Bank deposit method of proving unreported income law and. Information and translations of bank deposit in the most comprehensive dictionary definitions resource on the web. Definition of bank deposit from the collins english. In larger firms, it is commonly divided into two parts.
Bank deposit definition and meaning collins english dictionary. Jan 30, 2020 a deposit is a financial term with multiple definitions. As a financial term, a deposit is money youve placed at the bank for safekeeping. Deposit account financial definition of deposit account. Deposit article about deposit by the free dictionary. Lower rates on bank deposits also are pushing money into the economy. Our selection of business deposit slips are specifically designed to meet or exceed all bank standards, which means theyre formatted for fast and troublefree processing at any bank. Wikipedia, lexilogos, oxford, cambridge, chambers harrap, wordreference, collins lexibase dictionaries, merriam webster. Definition and synonyms of deposit from the online english dictionary from macmillan education. Bank of deposit definition is a bank that receives money for safekeeping. A cash book is a financial journal that contains all cash receipts and payments, including bank deposits and withdrawals. At their most basic, banks hold money on behalf of customers, which is payable to the customer on demand, either by appearing at the bank for a withdrawal or by writing a check to a third party. A time deposit also known as a term deposit is a money deposit at a bank that cannot be withdrawn for a certain term or period of time.
Bank deposit definition of bank deposit by merriamwebster. The target bank account for the bank deposit can be any kind of account that accepts deposits. Bank deposit definition what does bank deposit mean. Now make sure you dont lose the bankbook, or the teller wont. One definition of deposit refers to when a portion of funds is used as security or collateral for the delivery of goods or services.
When you place your money into a bank deposit, the bank will take your funds and make loans. Bank deposit definition and meaning define bank deposit. Interest rate paid by a depository institution on the cash on deposit. Information and translations of bank book in the most comprehensive dictionary definitions resource on the web. Bank book legal definition of bank book legal dictionary. Bank deposits consist of money placed into banking institutions for safekeeping. Deposit accounts unlike current accounts, which are used to finance daytoday transactions are mainly.
A bank deposit is simply the process by which a customer of the bank or other financial institution entrusts their money to be held in the bank. Bank deposit definition in the cambridge english dictionary. Put 2 assholes together and one shits in the other filling up his account. A collection of telephones within an organization such as a call center. Bank book definition of bank book by medical dictionary. Bank depository definition of bank depository by the. A banking institution that does business solely or mostly via telephone. Bank deposit an amount of money held at a financial institution on behalf of an account holder for safekeeping. Bank deposits are the large part of the money supply. Money given in advance to show intention to complete the purchase of a property. Change your default dictionary to american english. Cash book is regularly reconciled with the bank statements as an internal auditing measure. These deposits are made to deposit accounts such as savings accounts, checking accounts and money market accounts.
Deposit noun definition and synonyms macmillan dictionary. Dictionary term of the day articles subjects businessdictionary. The longer the term, the better the yield on the money. Just try to make a cash deposit to your bank account. Definition of bank deposit from the collins english dictionary. Sep 19, 2019 bank deposits consist of money placed into banking institutions for safekeeping. Bank deposit definition and meaning collins dictionary.
The bank book was then something tremendously important, or at least depositors thought so. Definition of bank book in the medical dictionary by the free dictionary. Bank deposit definition is any funds credited to a depositors account by a bank. The law provides for the following in the event of nonperformance of the contract. You can complete the definition of deposit given by the english definition dictionary with other english dictionaries. You can complete the definition of net deposit given by the english definition dictionary with other english dictionaries. Bank deposit method of proving unreported income this is a method used by the irs to probe for income and is one of the favorite indirect methods of proving unreported income.
Definition of bank book in the legal dictionary by free online english dictionary and encyclopedia. Banks use the money they hold to finance loans, which they make to businesses and. In many cases the money can be withdrawn from a call deposit account without prior notification to the bank. Bank deposit law and legal definition uslegal, inc. A bank note resembles a common promissory note, issued by a bank or corporation irregular deposit this name is given to that kind of deposit, where the thing deposited need not cashier law dictionary alternative legal definitionverb in military law. This surplus, although belonging to the depositor, according to law, is never paid. Most bank deposits are insured by organizations like the fdic to reduce their risk. Bankbook definition of bankbook by the free dictionary.
For example, one may keep a bank deposit in ones checking account to pay for daily expenses instead of hiding ones money under the mattress. Bank deposit legal definition of bank deposit legal dictionary. Deposit definition and meaning collins english dictionary. Depositor definition in the cambridge english dictionary. Bank deposit definition of bank deposit by the free dictionary. A deposit is a sum of money which is part of the full price of something, and which you pay when you agree to buy it. Bank book article about bank book by the free dictionary. They come in different types depending on withdrawal restrictions. This document can be checked against the bank statement to see if the transactions are correct. Proper usage and audio pronunciation plus ipa phonetic transcription of the word deposit. Commercial bank dictionary definition commercial bank.
Definition of deposit when banks and credit unions refer to deposits, they are talking about the money in your accounts, which. In deposit terminology, the term bank deposit refers to an amount of money in cash or check form or sent via a wire transfer that is placed into a bank account. In demand deposit, a depositor can withdraw the deposited amount any time. Information about bank deposit in the dictionary, synonyms and antonyms. The initial deposit required to open an account is a minimum 100 dollars. A deposit is a financial term with multiple definitions. Search deposit and thousands of other words in english definition and synonym dictionary from reverso.
Time deposits generally refer to savings accounts or certificates of deposit, and banks and financial institutions usually require 30 days notice for withdrawal of these. A deposit is a sum of money which is in a bank account or savings account, especially a sum which will be. Journal in which all cash receipts and payments including bank deposits and withdrawals are recorded first, in chronological order, for posting to general ledger. Search net deposit and thousands of other words in english definition and synonym dictionary from reverso. His approach is akin to measuring your personal solvency by adding up the deposits in your bank account and neglecting the withdrawals. An institution, generally incorporated, authorized to receive deposits of money, to lend money. Generally, there are significant penalties for early withdrawal. Now make sure you dont lose the bankbook, or the teller wont deposit this check. He wanted to discuss the security arrangements available to someone making a large cash deposit.
Bankbook definition, a book held by a depositor in which a bank enters a record of deposits and withdrawals. But, surprisingly, much of the world views that money creation only occurs with the deposit into a bank account. In time deposit, money is deposited for a specific time. Proper usage and audio pronunciation plus ipa phonetic transcription of the word bank deposit.
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