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1 the actofplacing money with a bank. Thus, a deposit account is a bank account that pays interest but that imposes the requirement of notice (or a penalty in terms of interest) before withdrawal can be effected; a deposit receipt is an acknowledgement by the bank that sums have been deposited and are being held for the account of the depositor; a certificate ofdeposit is a financial. Click to Play!

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1 the actofplacing money with a bank. Thus, a deposit account is a bank account that pays interest but that imposes the requirement of notice (or a penalty in terms of interest) before withdrawal can be effected; a deposit receipt is an acknowledgement by the bank that sums have been deposited and are being held for the account of the depositor; a certificate ofdeposit is a financial. Click to Play!

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Deposit Account Definition: A bank account for money to be kept in for a long time.
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