Cash is the A(n) account keeps track of the money that is deposited with a bank.
What is the fund deposit in bank?
- At general, a deposit is just money that is kept in a bank. When a portion of the money are utilized as security or collateral on a delivery of goods or services, this is one definition of a deposit. Another type of deposit entails the transfer of money to a third party for storage, such a bank.
- When a specific proportion of the amount is deposited in HSBC Mutual Funds over the maturity, a Fund Deposit Account, a type of time deposit account, offers a preferred interest rate.
- Money deposited in banks for storage is referred to as a bank deposit. These deposits are made to various deposit accounts, including savings, checking, or money market accounts.
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