Bank Deposit
/ˈbæŋk dɪˌpɒzɪt/
Definitions
- (n.) Money placed into a bank account for safekeeping, subject to withdrawal and use under the bank's terms.
She made a bank deposit to secure the funds for her rent.
- (n.) The act of placing funds into a bank account, creating a contractual relationship between depositor and bank.
The bank deposit was credited the next business day.
Forms
- bank deposits
Related terms
See also
Commentary
In legal contexts, distinguishing between the physical act of depositing and the resulting fiduciary relationship is important for liability and ownership issues.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.