Many states require that lease and other such deposits be maintained in escrow accounts and earn interest which must be paid to the party when the deposit is refunded. Times, sunday times 2010 think rather how pleased you might be to find a safe bank deposit account that pays that amount of interest. Many deposits are insured by organizations like the fdic to reduce their risk. Bankdeposit meaning best 1 definitions of bankdeposit. Bank deposit meaning in the cambridge english dictionary. Deposit slip definition and meaning collins english dictionary.
Take it to your bank or credit union and endorse the back of the document. Bank deposit definition, money placed in a bank against which the depositor can withdraw under prescribed conditions. Bank deposit definition and meaning collins english dictionary. This definition is no doubt, no exposition of the deposit collection and chequery services of commercial banks and this is similar in conception to the definition of professor kent. But a claim and bank notes or deposits are claims to money does not involve the creditors relinquishing any of the present good. Deposit meaning in the cambridge english dictionary. In that sentence, deposit is a noun, but you could express the same action using deposit as a verb. Check kiting or cheque kiting is a form of check fraud, involving taking advantage of the float to make use of nonexistent funds in a checking or other bank account. Learn about the fdics mission, leadership, history, career opportunities, and more. Money paid to ensure performance under a written or oral contract. A checkbook is a folder or small book containing preprinted paper instruments issued to checking account holders and used to pay for goods or services. Banks might have business hours which may make it difficult for you to make a deposit during those hours if you are at work or school. Ris warehouse data dictionary data warehouse that organizes various types of bank and holding company data used in analyzing industry conditions and aiding in the. The post office savings bank introduced passbooks to rural 19th century britain traditionally, a passbook is used for accounts with a low transaction volume, such as savings accounts.
Bank deposit slips are preprinted documents made available to you by your banking institution. The initial deposit required to open an account is a minimum 100 dollars. Unlike safe investments such as bank deposits or treasury bonds, dividends are not guaranteed. Bank deposits consist of money placed into banking institutions for safekeeping. Bank log book, bank deposit log book, bank account log book. In moneyaisles realtime auctions, banks bid up rates on certificates of deposit and savings accounts. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. The definition remains loosely based on size, but goes beyond size alone in separating community. Jun 20, 2020 to deposit or cash a bank draft, treat it like any other check. Bank deposits are the large part of the money supply.
Deposit issuing bank means a each of jpmcb and cs, b solely in respect of any existing deposit letter of credit, the revolving lender that is the issuer thereof, as set forth on schedule 2. For example, one may keep a deposit in ones checking account to pay for daily expenses instead of hiding ones money under the mattress. Deposit bank synonyms, deposit bank pronunciation, deposit bank translation, english dictionary definition of deposit bank. Put 2 assholes together and one shits in the other filling up his account. Information and translations of bank deposit in the most comprehensive dictionary definitions resource on the web. The low rate environment has led deposit balances to decline this year. 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. By denny arar, pcworld saving you time, money, and hassles todays best tech deals picked by pcworlds editors top deals on great prod. On the bank statement, compare the companys list of issued checks and deposits to the checks shown on the statement to identify uncleared checks and deposits in transit. Bankbook definition is the depositors book in which a bank records deposits and withdrawals. In a bank s financial statement, a deposit is shown as the asset of a bank. A folder or small book containing preprinted paper instruments issued to checking account holders and used to pay for goods or services. 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.
Banks perform various services for their customers money transmission, investment advice, etc. A bank that manages the administration of american depositary receipts adrs, which are u. A provision in a bank s documents, the purpose of which is to extend the bank s interest in the debtors property to property not owned by the debtor at the time of the transaction but subsequently acquired by the debtor. However, when you make a large check deposit your bank can place a hold on the funds. Any money market accounts, certificates of deposits, bank bonds, treasuries, and savings are assets. Available for both checking and savings accounts, a deposit slip is completed by you when submitting deposits into your account. A bank teller or postmaster would write by hand the date and amount of the transaction and the updated balance and enter his or her initials. 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. Definition of deposit written for english language learners from the merriamwebster learners dictionary with audio pronunciations, usage examples, and countnoncount noun labels. Bank book financial definition of bank book financial dictionary.
You are making a deposit when you put money into your bank account. You can complete the definition of deposit given by the english definition dictionary with other english dictionaries. You work hard for your money, and you want you money to work hard for you. These deposits are made to deposit accounts such as savings accounts, checking accounts, and money market accounts. Some banks charge fees on maintaining depositors fund. Look through examples of bank deposit translation in sentences, listen to pronunciation and learn grammar. The most comprehensive bank deposits glossary on the web. Bank deposit definition and meaning collins english. Hustler money blog best bank bonuses and promotions by anthony nguyen last updated. Deposit definition of deposit by websters online dictionary.
Money on deposit at a bank is usually held in a savings account, a deposit account, or a current account. Bank deposit definition of bank deposit by the free. An outstanding deposit is also known as a deposit in transit to illustrate an outstanding deposit, lets assume that on october 31 a company received cash and checks. Elevate your bankrate experience get insider access to our best financial tools and content elevate your bankrate experience get insider access to our best financial tool. Deposit definition of deposit by oxford dictionary on. Investors dissatisfied with the low returns on bank deposit accounts are diverting their cash into property. Wikipedia, lexilogos, oxford, cambridge, chambers harrap, wordreference, collins lexibase dictionaries, merriam webster. An outstanding deposit refers to a companys receipts cash, checks from customers, etc. Bank book legal definition of bank book legal dictionary the.
A deposit slip is a piece of paper listing the checks and cash being deposited in a bank account. Bank deposit an amount of money held at a financial institution on behalf of an account holder for safekeeping. Deposit bank definition of deposit bank by the free. In addition, if you make a large cash deposit you may have. Bank of deposit definition of bank of deposit by merriam. An inquiry at the academy found an unauthorised bank account and unauthorised deposits. The federal deposit insurance corporation fdic is an independent agency created by the congress to maintain stability and public confidence in the nations financial system. How to make a deposit to a bank account from home pocketsense.
Section 18l, including without limitation, outstanding cashiers checks and other official checks and all uncollected items included in the depositors balances and credited on the books and records of the failed bank. A glossary of terms used in payments and settlement systems. An amount of money held at a financial institution on behalf of an account holder for safekeeping. We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage.
Most material 2005, 1997, 1991 by penguin random house llc. A basic checking account that allows you to avoid the monthly fee by making any deposit. Learn how to deposit it into your bank account, even if you use an onlineonly bank. In this way, instead of being used as a negotiable instrument, checks are misused as a form of unauthorized credit. Heber hart in his book law of banking, defined a bank to be a. Your bank may credit the funds to your account more quickly if you make your deposit with a bank employee, as opposed to using an atm or mobile device to deposit. Red book blue book automated teller machine an electromechanical device that permits authorised users, typically using machinereadable plastic cards, to withdraw cash from their accounts andor access other services, such as balance enquiries, transfer of funds or acceptance of deposits.
Bank of deposit definition is a bank that receives money for safekeeping. Ontime deposits are important to ensure that checks or drafts do not overdraft your account and result i. Search deposit and thousands of other words in english definition and synonym dictionary from reverso. Bank deposit noun the noun bank deposit has 1 sense. All real estate brokers must place earnest money deposits in escrow accounts. An itemized memorandum of the cash and other funds that a customer presents to the bank for credit to his or her account. To take advantage of the signup bonuses, you must set up direct deposit in order to meet their requirements e.
Bank deposit definition and meaning collins dictionary. Most bank deposits are insured by organizations like the fdic to reduce their risk. Some of these banks have branches in foreign countries. It uses the data to establish standard requirements for lending and deposit gathering and to set limits on the geographic scope of operations that a banking organization must meet to be designated as a community bank. Business deposit books 2 part duplicate deposits, qty 200 carbonless deposits. Image by maritsa patrinos the balance 2019 when you have extra cash, its best to deposit that money into a bank account. A deposit is a sum of money which is in a bank account or savings account, especially a sum which will be. Bankbook definition, a book held by a depositor in which a bank enters a record of deposits and withdrawals. 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 definition and meaning define bank deposit. Enrich your vocabulary with the english definition dictionary. The target bank account for the bank deposit can be any kind of account that accepts deposits. Modified entries 2019 by penguin random house llc and harpercollins publishers ltd. Using the cash balance shown on the bank statement, add back any deposits in transit.
In the late 20th century, small dot matrix or inkjet printers were introduced that were capable of updating the passbook at the account holders. A depository bank refers to a facility like an office, building, or even warehouse that acts as a depository for safeguarding and storage purposes. Deposit definition for englishlanguage learners from. Bank deposits are money placed into a deposit account at a banking institution, such as savings accounts, checking accounts and money market accounts. During those periods, there were sharp reductions in bank deposits, bank notes, wages, and prices. Deposit definition and meaning collins english dictionary. How and where to deposit cash including online banks. Define deposit by websters dictionary, wordnet lexical database, dictionary of computing, legal dictionary, medical dictionary, dream dictionary. Depositarybank meaning best 1 definitions of depositarybank. Bank deposit law and legal definition uslegal, inc. They come in different types depending on withdrawal restrictions. Bank deposit noun the noun bank deposit has 1 sense 1. Traditionally, a passbook is used for accounts with a low transaction volume, such as savings accounts. A passbook or bankbook is a paper book used to record bank or building society transactions on a deposit account.
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