Q:

What is a depositor account title?

A:

Quick Answer

The depositor account title indicates the ownership of the funds in a deposit account. Put simply, it is the name that appears on the deposit account record.

  Know More

Full Answer

Depositor account titles may be held by a single individual, a married couple, business partners or other arrangement. One of the individuals may be the primary representative or represent the power of attorney. Depositor account titles may also be held by a fiduciary or escrow company that holds funds for other parties.

Legally, the depositor legally transfers title of the funds deposited to the bank. The bank then records the funds as both an asset and a liability towards the individual(s) or entity holding the depositor account title.

Learn more about Accounting

Related Questions

  • Q:

    Is an Emigrant online savings account safe?

    A:

    The FDIC insures online savings accounts at EmigrantDirect for up to $250,000 per depositor, according to the EmigrantDirect website. Furthermore, the FDIC insures individual and joint accounts separately, so if a consumer has both types of accounts, it insures deposits for up to $500,000.

    Full Answer >
    Filed Under:
  • Q:

    What is an income and expenditure account?

    A:

    An income and expenditure account is a record showing debits and credits for an organization within a particular time period. Income and expenditure accounts are also referred to as profit and loss accounts. Generally, these accounts are credited with debits and credits, whether paid or not. As a rule, transactions of a capital nature, such as payments for vehicles or sales of machinery, as well as donations from a will, should not be included in this account.

    Full Answer >
    Filed Under:
  • Q:

    Where can you purchase account books?

    A:

    Account books are fairly standard office stationery, and they can be bought at most local stationery stores. Alternatively, they can be ordered online from companies such as Officeworld and Amazon. Most orders arrive within a day or two, but expedited shipping for next day delivery is also available.

    Full Answer >
    Filed Under:
  • Q:

    How do you access a Chase checking account online?

    A:

    Chase Bank has a dedicated login page for its checking account customers who have signed up for online access. Before attempting to log in to a Chase checking account, the user must obtain the required online credentials from Chase Bank.

    Full Answer >
    Filed Under:

Explore