depositor

Definition

A person or company that places money in a bank account.

Use depositor in a sentence

After the company changed banks, John became the official depositor, traveling to the bank every day to put the day's earnings into the company's account.

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The amount placed by the depositor in the account when added to the previous balance placed the account above the minimum balance that was required by the bank.

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If you are looking to start investing into a 401k plan, you would need to name your company or boss as your depositor so they are able to deposit money into your account.

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Depository Institutions Deregulation and Monetary Control Act financial cooperative