Who Are Called Depositors?

Depositor. A person who is making a deposit with the bank is known as a depositor. The depositor is the lender of the money which will be returned to him/her at the end of the deposit period. Deposits.

What is depositor account title?

The Depositor Account Title is the name of the account holder exactly as it appears in the bank records.

Why are the deposits in the bank account called deposits?

Apart from money being safely kept in the banks, people are also paid interest on the amount of money deposited in their bank account. Deposits also act as direct money in case of cheque payments. Cheques against a deposit settle payments without the use of direct cash.