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Updated on July 18, 2023

A depositor is an individual, organization, or entity that deposits funds or money into a financial institution such as a bank. By making a deposit, the depositor entrusts their funds to the institution, which holds and manages the deposited amount on their behalf. The deposited funds may be kept in various types of accounts, including savings accounts, current accounts, certificates of deposit, or other deposit instruments offered by the financial institution. The depositor maintains ownership of the deposited funds while relying on the financial institution to ensure their safekeeping and provide access to the funds as needed.