Question

why are the deposits in the bank account called deposits

Answer 1

These deposits are made to deposit accounts such as savings accounts, checking accounts and money market accounts. The account holder has the right to withdraw deposited funds, as set forth in the terms and conditions governing the account agreement

Answer 2

sometimes when we need only certain amount of money for our day to day needs we need to keep our extra cash at a safe place this mean that a part hold from currency as a form of holding money The Other form in which people Hold money can be deposit with bank people deposit their extra money in the bank by opening a bank account in their name banks accepted deposits from the public and also pay some interest on the deposit