What Does Depositor Mean?

Depositor is word that is related to deposit. It refers to a person who deposits money. He is an individual or a person who places his funds and savings in a financial institution like a bank or a similar institution. The money or funds that he stores in a bank is called a deposit. Banks have accounts known as deposit accounts which hold money on behalf of an account holder. This account holder is known as a depositor.

A depositor has the rights to his deposit though he has to adhere to some rules set by the financial institution. These restrictions and rules depend on the type of account that he possesses. The word depositor is a noun and refers to a person who makes a deposit. A depositor is a person or an organization placing money in the physical custody of a bank or any other financial institution without transferring the legal title.