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Deposit Method

In general, a deposit means to keep something securely which can be used for in future. The term "deposit" is used in the banking system. A deposit is a phrase used in finance to describe money held in a bank. Nowadays, most people have bank accounts. They save money in their accounts. So, we can say that the deposit is the money which is placed in our bank accounts for further use. It is a financial transaction in which money is transferred to an account for storage. A deposit might refer to a sum of money held as security or collateral for the delivery of a product.