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Deposit: Definition, Usage & Key Examples (2 meaning)

Meaning 1:place money in a bank (deposit)

deposit 🔊
/dɪˈpɒz.ɪt/
v./n.
To put money into a bank account for safekeeping, or the money that you have put there.
Deposit definition illustrated: person making a cash deposit at a modern bank counter.
place money in a bank 🔊
/pleɪs ˈmʌni ɪn ə bæŋk/
v./n.
The act of putting money into a bank account for safekeeping, or the sum of money that has been placed there.
📁 Category:Social Economy 🔖 Level:Elementary

📘 Details & Usage

📖 Root Explanation
From Latin 'deponere': 'de-' (down) + 'ponere' (to place).
💡 Mnemonic
DE-posit: DE-liver or POSIT-ion funds DOWN. Think of a DE-posit slip for the bank.
📖 Example
I need to deposit my first paycheck into my savings account this afternoon. 🔊 I need to place my first salary payment into my savings account this afternoon.
🔗 Collocations
bank deposit – money placed into a bank account
security deposit – a sum of money paid in advance as a guarantee against damage or default
mineral deposit – a natural accumulation of minerals in the earth
🔄 Synonyms
bank (v.) – to place money in a financial institution
save (v.) – to keep money for future use, often in a bank
lodge (v.) – to place something officially for safekeeping
🚫 Antonyms
withdraw (v.) – to take money out of a bank account
🌱 Derivatives
depositor (n.) – a person who places money in a bank account
depository (n.) – a place where things are stored for safekeeping
📖 Cultural Story
Entered English around the 14th century from Latin via French. Its core meaning of 'putting down' or 'placing' legally evolved into financial and contractual uses, such as money placed in trust with a bank or a sum given as security.

Meaning 2:put down or leave as a guarantee (deposit)

deposit 🔊
/dɪˈpɒz.ɪt/
v./n.
To put down or leave something in a specific place. Also, a sum of money paid in advance as a guarantee.
Deposit as a guarantee: handing over keys and cash for a rental security deposit.
put down or leave as a guarantee 🔊
/pʊt daʊn ɔːr liːv æz ə ˌɡær.ənˈtiː/
v./n.
To set something down or leave it in a specific location. Also, a sum of money paid in advance to secure an agreement, like for renting property.
📁 Category:Transportation & Travel 🔖 Level:Intermediate

📘 Details & Usage

📖 Example
You can deposit your luggage at the front desk while you wait for your room to be ready. 🔊 You can leave your bags at the reception area while you wait for your room to be ready.
🔗 Collocations
deposit slip – a form used to record a bank deposit
savings deposit – money placed in a savings account
time deposit – a bank deposit with a fixed term and interest rate
🔄 Synonyms
place (v.) – to put something in a particular position
put down (v.) – to set something down on a surface
down payment (n.) – an initial partial payment made as a guarantee
🚫 Antonyms
remove (v.) – to take something away from a place
withdraw (v.) – to take something back or away
🌱 Derivatives
deposition (n.) – the act of depositing something; a formal statement
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