The term deposit has several meanings, depending on its context. Generally speaking, a deposit refers to money or an asset placed in trust with another party for safekeeping, often as a guarantee of future performance or payment. In other words, it is putting something into a bank account, especially by leaving it at a specified place for keeping or as security against loss or damage. It can also refer to the first part of a series of payments made when purchasing an item or service, which will be used towards the final price if the buyer decides to complete the purchase. In this context, deposit is often refundable if the transaction does not go through.