bank deposit

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bank deposit

[¦baŋk di′päz·ət]
Mounds, ridges, and terraces of sediment rising above and about the surrounding sea bottom.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.

mobile check deposit

Using the camera in a phone to deposit a check in a bank. An app in the phone takes a picture of the front and back of the check, and both images, along with the dollar value, are transmitted to the bank. Nothing is stored in the phone. Initially created for commercial customers in 2004 in the U.S. and known as "remote deposit capture" (RDC), banks began offering the service to individual account holders starting in 2012.

The Amounts Are Not Unlimited
In order to limit a bank's liability if someone makes a mobile deposit in one bank and physically deposits or cashes the check in another bank, there are maximum mobile deposit amounts. The limits are generally from $1,000 to $2,000 per day and from $3,000 to $5,000 per month. See mobile payment service, online banking and virtual bank.

A New High-Tech Benefit
For customers who want to quickly deposit their checks, this is a great convenience.
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References in periodicals archive ?
The banking liquidity ratio reached 54.0% of total bank deposits .
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Alejano earlier challenged President Duterte to sign a bank secrecy waiver to disprove allegations of having unexplained wealth in the form of bank deposits, which was also one of the grounds in the impeachment case filed against him.
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The Executive Board of the Central Bank of Tunisia (BCT) noted, at its meeting Monday, the sharp slowdown in the pace at which outstanding bank deposits evolved in the first eleven months of 2015 (2.6% against 7.2% a year earlier), reflecting the moderate evolution of term deposits and lower deposit certificates.
BEIRUT: Citi, the global financial services group, indicated that the risks from the recent slowdown in the growth of bank deposits in Lebanon are limited, and that the slowdown is unlikely to pave the way for capital flight.
In an interview with Trud daily Stoyanova said on Friday the current minority coalition government of cenytre-right GERB and right-wing Reformist Bloc would propose to Parliament to scrap the planned gradual reduction of the tax on interest on bank deposits and reintroduce it at 10%.
They said the Bank Secrecy Law on bank deposits is a myth, citing Revenue Regulations (RR) No.
The share of the deposits in the banks has increased by 14%, the trust of the population in the bank deposits has grown, said Kairat Kelimbetov, the National Bank Chairman, speaking at the CCS media briefing on Tuesday.
According to the UAE Central Bank, credit and advances grew 2.1 per cent year-on-year and bank deposits increased 6.3 per cent year-on-year as a result of an increase in resident deposits by 7.9 per cent year-on-year, in the January-April period.