CERTIFICATE OF DEPOSIT, a written receipt from a bank acknowledging the deposit therein of a certain sum of money. Under such certificate, money may be deposited either on a demand basis or a time basis, but in either case it cannot be drawn against by cheque. To withdraw funds deposited under a certificate of deposit it is necessary to present the certificate it self, properly endorsed. In the United States certificates of de posit are negotiable when properly endorsed and are usually acceptable as security for loans.