No.  The formal parameter amount belongs to the
processDeposit method.
It cannot be used by any other method.
The scope of a formal parameter
is the section of code that can "see" (can use) the parameter.
The scope of a formal parameter is the body of its method.
For example, the scope of amount is the body of its method:
class CheckingAccount
{
  . . . .
  private int    balance;
  . . . .
  void  processDeposit( int amount )
  { // scope of amount starts here
    balance = balance + amount ;      
    // scope of amount ends here
  }
  // modified display method
  void display()
  {
    System.out.println( balance + "\t" + amount );  // syntax error 
  }
}
 
The display() method cannot "see" amount because it is
outside the scope of amount.
The compiler will not compile this modified program.