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A deposit account is a bank account maintained by a financial institution in which a ... the verbs "deposit" and "withdraw" mean a customer paying money into, and ...
A deposit is the act of placing cash (or cash equivalent) with some entity, most commonly with a financial institution, such as a bank.. The deposit is a credit for the party (individual or organization) who placed it, and it may be taken back (withdrawn) in accordance with the terms agreed at time of deposit, transferred to some other party, or used for a purchase at a later date.
In accounting, a down payment (also called a deposit in British English) is an initial up-front partial payment for the purchase of expensive goods or services such as a car or a house. It is usually paid in cash or equivalent at the time of finalizing the transaction .
A certificate of deposit is a safe, income-generating investment that earns interest for a set period of time, also known as a term. The term is the length of time you agree to leave your money ...
Money in the bank might take the form of numbers on a computer screen or rectangular stacks of green paper in a vault. Either way, people have been putting money in the bank for the same reason for...
What does ACH mean on a deposit? ACH stands for automated clearing house, and it refers to direct deposits or electronic fund transfers being made through banks or credit unions.
Time deposits normally earn interest, which is normally fixed for the duration of the term and payable upon maturity, though some may be paid periodically during the term, especially with longer-term deposits. Generally, the longer the term and the larger the deposit amount the higher the interest rate that will be offered. [1]
Deposit may refer to: Deposit (finance) (also security deposit) A down payment or partial payment in advance; Deposit (town), New York; Deposit (village), New York; Deposit account, a bank account that allows money to be deposited and withdrawn by the account holder Demand deposit, the funds held in demand deposit accounts in commercial banks