Bank Deposits

Definition

Bank deposits refer to funds that individuals or businesses place into their bank accounts for safekeeping and easy access. These deposits can include cash, checks, or electronic transfers.

Related terms

Savings Account: A type of bank account where individuals can deposit and save their money while earning interest.

Checking Account: A type of bank account that allows frequent withdrawals and payments through checks, debit cards, or online transactions.

Certificate of Deposit (CD): A time deposit with a fixed term and interest rate offered by banks.