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Money kept at a bank is referred to as a deposit in the world of finance. A deposit is a deal in which money is given to someone else to keep safe.
A fully automated technique of handling transactions is direct deposit. When a direct deposit is made, the payer sends a digital payment that is instantly deposited into the payee's checking account. The money will move without a physical check or a trip to the bank by either party. Direct deposit, as it relates to work, is the electronic transfer of net pay from a financial institution owned by an employer to a person's personal bank account. This transaction occurs across a network known as the Automated Clearing House . In the realm of finance, money kept at a bank is referred to as a deposit. A deposit is a transaction in which money is entrusted to another party for safekeeping.
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