Deposit Slip

What is a 'Deposit Slip'

A deposit slip is a small written form that is sometimes used to deposit funds into your account. A deposit slip indicates the date, the name of the depositor, the depositor's account number and the amounts of checks, cash, and coin being deposited. The bank clerk typically verifies the funds received against the amounts listed on the deposit slip. The deposit slip is processed to indicate it was received and hands any requested cash to the customer.

BREAKING DOWN 'Deposit Slip'

Although deposit slips may also be used at ATMs, many banks do not require they be included with deposited funds. Indeed, newer ATMs have scanning technology that provides an image of the deposited check on the receipt and do not allow the use of deposit slips.

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