Redeposit: meaning, definitions and examples
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redeposit
[ ˌriːdɪˈpɒzɪt ]
banking term
Redeposit refers to the act of depositing something again, particularly funds, into an account or financial institution. This term is often used in the context of bank transactions where an individual or entity returns money that was previously withdrawn. It can also involve reinvesting funds into an account or financial instrument to earn interest or returns anew. Redepositing is a common practice among investors looking to keep their money working for them continuously.
Synonyms
deposit again, reinvest, return.
Examples of usage
- I decided to redeposit my savings into a high-interest account.
- After considering my options, I chose to redeposit the check immediately.
- The bank allows me to redeposit funds without any penalty.
Translations
Translations of the word "redeposit" in other languages:
🇵🇹 redepósito
🇮🇳 पुनः जमा करना
🇩🇪 Wiedereinzahlung
🇮🇩 penyetoran ulang
🇺🇦 повторний депозит
🇵🇱 ponowna wpłata
🇯🇵 再預金
🇫🇷 re-dépôt
🇪🇸 redepósito
🇹🇷 yeniden yatırma
🇰🇷 재예금
🇸🇦 إعادة الإيداع
🇨🇿 znovu vklad
🇸🇰 opätovný vklad
🇨🇳 重新存款
🇸🇮 ponovni depozit
🇮🇸 endurreikningur
🇰🇿 қайта депозит
🇬🇪 მეორე დეპოზიტი
🇦🇿 təkrar depozit
🇲🇽 redepósito
Etymology
The term 'redeposit' is a compound word derived from the prefix 're-', meaning 'again', and the word 'deposit', which comes from the Latin 'deponere', meaning 'to put down or away'. The practice of depositing funds can be traced back to ancient banking systems where people kept their valuables in designated places for safekeeping. With the evolution of banking and finance, depositing cash became a more commonplace operation. The concept of redepositing arises as financial systems grew more complex, allowing individuals to withdraw and deposit funds regularly. As technology advanced, the ease of moving money in and out of accounts led to the more frequent use of the term in modern banking contexts, especially in relation to interest-bearing accounts and investment products.