Money and banking / B1

di-POZ-it/dɪˈpɒzɪt/

A deposit is money paid in advance to reserve something, or money paid into a bank: a rent deposit; deposit a cheque. Down payment is close for buying. Refundable deposits should be returned if you meet the conditions. Do not confuse deposit with depot (a warehouse). Tenancy: five weeks as a deposit.

Meaning

A sum paid in advance to reserve something; also money paid into a bank.

Examples

• “The landlord asked for five weeks of rent as a deposit.”
• “Deposit the bursary into the account named on the form.”

Good to know

a rent / security deposit; pay a deposit. Bank: deposit money. Mix-up: depot. Tenancy deposit schemes in England.

Topics

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