Which term means money placed into a bank account?

Which term means money placed into a bank account?

• A. Withdrawal
• B. Transfer
• C. Deposit
• D. Payment

Answer: (C)

Deposits are funds added to a bank account. This can be cash turned in, a check deposited, or electronic additions like direct deposit from an employer or a transfer from another account. Depositing increases your account balance and is recorded as a credit. In contrast, a withdrawal takes money out, a transfer moves money between accounts, and a payment sends money to someone else or a merchant.

Deposits are funds added to a bank account. This can be cash turned in, a check deposited, or electronic additions like direct deposit from an employer or a transfer from another account. Depositing increases your account balance and is recorded as a credit. In contrast, a withdrawal takes money out, a transfer moves money between accounts, and a payment sends money to someone else or a merchant.