Found 1 items, similar to Bank of deposit.
English → English (gcide)
Definition: Bank of deposit
Bank
\Bank\, n. [F. banque, It. banca, orig. bench, table,
counter, of German origin, and akin to E. bench; cf. G. bank
bench, OHG. banch. See
Bench, and cf.
Banco,
Beach.]
1. An establishment for the custody, loan, exchange, or
issue, of money, and for facilitating the transmission of
funds by drafts or bills of exchange; an institution
incorporated for performing one or more of such functions,
or the stockholders (or their representatives, the
directors), acting in their corporate capacity.
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2. The building or office used for banking purposes.
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3. A fund to be used in transacting business, especially a
joint stock or capital.
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Let it be no bank or common stock, but every man be
master of his own money. --Bacon.
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4. (Gaming) The sum of money or the checks which the dealer
or banker has as a fund, from which to draw his stakes and
pay his losses.
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5. In certain games, as dominos, a fund of pieces from which
the players are allowed to draw; in Monopoly, the fund of
money used to pay bonuses due to the players, or to which
they pay fines.
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6. a place where something is stored and held available for
future use; specifically, an organization that stores
biological products for medical needs; as, a blood bank,
an organ bank, a sperm bank.
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Bank credit, a credit by which a person who has given the
required security to a bank has liberty to draw to a
certain extent agreed upon.
Bank of deposit, a bank which receives money for safe
keeping.
Bank of issue, a bank which issues its own notes payable to
bearer.
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Deposit
\De*pos"it\, n. [L. depositum, fr. depositus, p. p. of
deponere: cf. F. d['e]p[^o]t, OF. depost. See
Deposit, v.
t., and cf.
Depot.]
1. That which is deposited, or laid or thrown down; as, a
deposit in a flue; especially, matter precipitated from a
solution (as the siliceous deposits of hot springs), or
that which is mechanically deposited (as the mud, gravel,
etc., deposits of a river).
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The deposit already formed affording to the
succeeding portion of the charged fluid a basis.
--Kirwan.
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2. (Mining) A natural occurrence of a useful mineral under
the conditions to invite exploitation. --Raymond.
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3. That which is placed anywhere, or in any one's hands, for
safe keeping; something intrusted to the care of another;
esp., money lodged with a bank or banker, subject to
order; anything given as pledge or security.
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4. (Law)
(a) A bailment of money or goods to be kept gratuitously
for the bailor.
(b) Money lodged with a party as earnest or security for
the performance of a duty assumed by the person
depositing.
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5. A place of deposit; a depository. [R.]
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Bank of deposit. See under
Bank.
In deposit, or
On deposit, in trust or safe keeping as a
deposit; as, coins were received on deposit.
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