deposit

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Related to deposits: Bank deposits, Security Deposits

Deposit

1. An amount of money held at a financial institution on behalf of an account holder for safekeeping. For example, one may keep a deposit in one's checking account to pay for daily expenses instead of hiding one's money "under the mattress." Many deposits are insured by organizations like the FDIC to reduce their risk.

2. See: Earnest Money.

deposit

Money paid to ensure performance under a written or oral contract.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.All real estate brokers must place earnest money deposits in escrow accounts. One must carefully examine the particular contract language relative to deposits in order to determine the circumstances under which they may be withheld from the depositor.

References in classic literature ?
The deposits average more than one hundred millions a day; and it dominates the call loan market on Wall Street and the stock market.
The deposits you understand--the savings of Thrift.
The fellow had a pretty fancy in names: the "Orb" Deposit Bank, the "Sceptre" Mutual Aid Society, the "Thrift and Independence" Association.
But during my visit to you the day before yesterday, sir, which you appear to recollect so well," replied Eugenie, "I saw you arranging a deposit -- is not that the term?
That deposit may be at any moment withdrawn, and if I had employed it for another purpose, I should bring on me a disgraceful bankruptcy.
You just now spoke of a deposit which the late king transmitted through you to his son -- are you, then, one of those Frenchmen who, as I have heard, endeavored to carry off Charles I.
It was undoubtedly a deposit which Cornelius de Witt, already threatened by the unpopularity with which his countrymen were going to honour him, was placing in the hands of his godson; a contrivance so much the more cleverly devised, as it certainly was not at all likely that it should be searched for at the house of one who had always stood aloof from every sort of intrigue.
The deposit intrusted to Van Baerle, and carefully locked up by him, was nothing more nor less than John de Witt's correspondence with the Marquis de Louvois, the war minister of the King of France; only the godfather forbore giving to his godson the least intimation concerning the political importance of the secret, merely desiring him not to deliver the parcel to any one but to himself, or to whomsoever he should send to claim it in his name.
You mean that the return of a deposit of gold which is to the injury of the receiver, if the two parties are friends, is not the repayment of a debt,--that is what you would imagine him to say?
He might deposit the precious stone in any place especially guarded and set apart--like a banker's or jeweller's strong-room-- for the safe custody of valuables of high price.
A bank holding company's home state is the state in which the total deposits of all subsidiary banks of the company were the largest on the later of July 1, 1966, or the date on which the company became a bank holding company.
In CCA 200245010, the Serviceheld that golf club membership fees were refundable deposits and, thus, not includible in income in the year of receipt.