Outrageously Funny Word Dictionary :: Predeposit

👉 A predepository is a type of financial institution that operates as an intermediary between banks and individuals or businesses, facilitating the transfer of funds from one account to another. This means that rather than directly transferring money from one bank account to another, it acts as a middleman where transactions are processed through multiple accounts. This allows for faster and more efficient transfers of funds, often allowing for the settlement of debts in a shorter time frame compared to traditional banking systems.

predepository

👉 In accounting, a predeposit is an amount of money that is deposited at the beginning of an accounting period. This deposit is typically made by the company to cover any liabilities or expenses incurred during that period. The purpose of this deposit is to reduce the overall cost of the business and make it more affordable for the company to operate in the future.

predeposit