In financial terms, making a deposit means that you're placing money in a banking institution for safekeeping or for other purposes. ... You can deposit a check or you can deposit cash. You can also make a deposit by transferring funds from one account to another.

What does deposit cheque mean?

You can now deposit your cheques using the 'Deposit Cheque' feature in your Mobile Banking app. It's simple, secure and can save you time. Straightforward - the app takes a photo of the cheque and 'reads' the details. ... Secure - once accepted, the cheque is processed just like paying it in at a branch.

How does depositing a cheque work?

When you deposit a cheque into your account, your bank will send the cheque to the bank of the person who wrote the cheque. That bank makes sure that the cheque is legitimate and there are enough funds in the cheque-writer's account to cover the cheque, and then sends the funds to your bank.