What does DPs stand for in banking?

dps are Deposits. They’re the funds in a bank account that you’ve given to the bank, which they manage for you. When you put money in a checking account, that money becomes a DP, as does money that you have in your savings account. Some banks also call them Money Market Accounts, but that’s not technically a DP. DPs are also often called “cash equivalents” or “cash assets.”

What does DPs mean in banking?

The acronym DPs is used in the banking industry to represent deposit products. A deposit product is money that a bank provides to its customers. The money can be in the form of cash, checks, bonds, investments, or other assets. deposits are one of the main sources of funds for a bank. Without deposits, a bank would not be able to operate.

What does DP stand for in banking?

A depository participant is any organization a bank or trust company allows to store its cash or other assets. It's the opposite of a creditor, who takes in money from clients for debt repayment or other services. Depositors are the primary source of a bank's funds and are protected against loss, so that they can trust the bank will be there to pay them back. Like a bank, a trust company can offer services beyond deposits, such as credit and investment products.

What does DP mean in a bank?

Deposits are commonly accepted by commercial and savings banks as a form of payment. Deposits are usually made in either cash or checks, and are usually collected periodically. In order to determine the amount of money available in a savings account, a bank first takes into account any cash withdrawals. Once the amount of money in the account drops below the minimum balance, the bank removes the money from the account (called a “sweep”).

What does DPs stand for in banking industry?

DS stands for Deposit Insurance. It is similar to FDIC in the U.S. and the FSA in the U.K. Insurance is essentially a guarantee that the bank holding your money will still be able to return your money to you in the case that your account gets robbed.