Deposit Account
/dɪˈpɒzɪt əˈkaʊnt/
Definitions
- (n.) A bank or financial institution account in which money is deposited for safekeeping and can be withdrawn or transferred.
She opened a deposit account to save money securely and earn interest.
Forms
- deposit account
- deposit accounts
Related terms
See also
Commentary
The term specifically denotes accounts used primarily for holding and managing deposited funds; distinguish from other account types by their contractual and regulatory characteristics.
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.