cash-deposit

Vocabulary Word

Definition

'Cash-deposit' is the act of adding money, in the form of cash, to your bank account. It's like refueling your car, but with cash instead of gasoline.

Examples in Different Contexts

In retail banking, a 'cash deposit' is the act of placing money into a bank account. A teller might say, 'You can make a cash deposit at the counter or through our ATM machines.'

Practice Scenarios

Accounting

Scenario:

It's essential to record all monetary transactions accurately for our financial monitoring and tax reporting.

Response:

All cash deposits are accounted for in our cash book, ensuring transparency in our financial reporting.

Impact

Scenario:

Supporting the less privileged is a collective responsibility. Let's remember that cash contributions can also be made to our local food bank.

Response:

I've just made a cash deposit into the charity's account. Can someone send a receipt for my records?