deposit account

  

Definition

Interest earning account at a bank or other depository institution the withdrawals from which are limited to the amount of the account's credit balance.

Use deposit account in a sentence

  • You need to have a good deposit account in place so that you always have a place to put any money you get.

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  • Pete knew that even if he withdrew everything he had in his deposit account, he still wouldn't have enough money to get out of town in time.

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  • I had to open a new deposit account in order to finish the transfer of the money I had earned that week.

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