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TeachMeFinance.com - explain depository depository -- a place where something of value is left for safekeeping. See depositary. historic definition... Depository -- A bank, trust company or other financial institution with which funds are deposited; or a safe deposit company, storage or warehouse company or other concern with which papers or property may be deposited for safe keeping. When an individual or firm receives deposits of money, papers or property the word depositary applies. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.