bank-depositor relation

noun phrase

Meaning

A contractual arrangement between a financial institution and a client where the bank holds funds as a debtor, creating an obligation to repay the money upon demand or according to specific terms.

Examples

  • The bank-depositor relation is fundamentally defined by the bank's duty to honor the customer's withdrawal requests.
  • Courts often analyze the bank-depositor relation to determine liability in cases of unauthorized account access.

Synonyms: banking relationship, customer-bank relationship, debtor-creditor relationship, fiduciary relationship