👉 Depositors are individuals who have deposited money into an account or in a savings mechanism for future use. They typically hold money on behalf of others and receive interest payments from the account, often at a higher rate than simple deposits.
depositors can be classified based on their relationship to the bank or financial institution they deposit with. Some examples include:
1.
Self-Depository
: Individuals who have deposited directly into an account without any assistance from a bank.
2.
Direct Deposit
: Depos
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What is the definition of Depositors? 🙋
