- Night Depository
- A bank drop box where merchants can deposit their daily cash, checks and credit card slips outside of banking hours. The bank collects the deposits and credits them to the merchant's account on the following business day.
Night depositories provide additional security for merchants, since they don't have to keep this money at their business location overnight, where it could be vulnerable to theft.
Instead of the envelopes that individual customers use to make bank deposits at ATMs, merchants often use lockable zippered bags, which are more secure and hold a larger volume of paper.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
night depository — ➔ depository * * * night depository UK US noun [C] BANKING ► NIGHT SAFE(Cf. ↑night safe) … Financial and business terms
night depository — night de.pository n AmE a special hole in the outside wall of a bank into which a customer can put money or documents safely when the bank is closed British Equivalent: night safe … Dictionary of contemporary English
night depository — night de,pository noun count AMERICAN a metal container in the wall of a bank that you can put money into when the bank is closed … Usage of the words and phrases in modern English
night depository — noun (C) AmE night safe … Longman dictionary of contemporary English
night depository — … Useful english dictionary
night safe — noun A safe in the outside wall of a bank, in which customers can deposit money when the bank is closed • • • Main Entry: ↑night * * * night safe UK US noun [countable] [singular night safe plural … Useful english dictionary
depository — de·pos·i·to·ry /di pä zə ˌtōr ē/ n pl ries 1: a place where something is deposited esp. for safekeeping night depository; specif: a bank chosen for the depositing of government funds 2: depositary Merri … Law dictionary
night safe — ➔ safe2 * * * night safe UK US noun [C] (also night depository) BANKING ► a box in the wall of a bank where a person or company can put money or valuable objects when the bank is closed: »I asked my assistant to deposit the money in the night… … Financial and business terms
night safe — n BrE a special hole in the outside wall of a bank into which a customer can put money or documents safely when the bank is closed American Equivalent: night depository … Dictionary of contemporary English
depository — Institution responsible for safekeeping securities and ensuring that the decisions made by fund managers are lawful. A depository can delegate some of its functions, notably the safekeeping function, on a contractual basis to another institution… … Financial and business terms