How to fill out a deposit slip for your bank.
Bank deposit slips can be paper or electronic. They provide essential information to the bank and need to be completed correctly. Let’s take a look at the important steps.
The bank deposit slip has been around as long as there have been banks. They’re easy to fill out but also contain essential information the bank needs to fulfill the transaction. Modern banking often happens online, but the bank requires the same information —whether online or standing before a teller. Learning how to fill out a bank deposit slip correctly is crucial for bank transactions. Let’s dive into the steps below.
What is a bank deposit slip?
A bank deposit slip is a printed form provided by banks that allows customers to deposit money into their accounts. It includes fields for essential information such as the account holder’s name, account number, date, and the amount being deposited, with sections for cash and checks. Deposit slips serve as records of transactions and help ensure accurate processing by the bank. While physical deposit slips are still used, many banks also offer electronic alternatives, simplifying the deposit process for customers.
When is filling out a deposit slip required?
You’ll need to fill out a deposit slip in specific banking situations to make sure your money is deposited accurately and securely. Here are some common instances where you might need to use a deposit slip:
- Cash or check deposits. When you’re depositing cash, checks, or a mix of both at your bank in person, filling out a deposit slip is the standard way to tell the bank how much money you’re putting in and which account it should go to.
- Business deposits. If you run a business and receive cash or checks from sales or customers, you’ll likely need deposit slips. They help you keep track of your business transactions and make your accounting easier.
- Special account types. Some types of bank accounts, like savings accounts with passbooks, might require filling out a deposit slip to update your account with the latest transactions.
With online and mobile banking, physical deposit slips are becoming less common. Many banks offer electronic ways to deposit checks, so you might not need a paper deposit slip. However, it’s a good idea to check with your bank to understand how to fill out a deposit slip for a check with their specific deposit procedures since they can vary.
How to fill out a deposit slip for cash.
For the bank to fulfill your deposit request and put your money where you want it, there are a few steps you should follow:
- Make sure you provide your name as it appears on your account.
- Include the account number. Some paper deposit slips are pre-printed with the account number.
- If you are requesting cash back, you may be required to sign the deposit slip in the appropriate space.
- Include a subtotal for the cash and checks, along with any amount you want back.
- Total the deposit at the bottom.
How to fill out a deposit slip for a check difference.
Whether you’re at the bank, ATM, or using mobile banking, following these steps will help you easily learn how to fill out a bank deposit slip:
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Get a deposit slip from the bank or download it from their website.
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Write today’s date and your account number on the slip.
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List the check(s) you’re depositing with the amount, check number, and your endorsement on the back.
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Add up the check amounts and write the total deposit.
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Verify that the information is accurate.
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Take the deposit slip and checks to your bank or an ATM, or use the mobile deposit option.
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Make and keep a copy of the deposit slip and any bank receipts for your records.
How long do you have to keep a deposit slip?
The duration for keeping a bank deposit slip will vary depending on your needs. For most everyday purposes, once the deposit is reflected in your account statement, you can discard the slip. However, it’s a good practice to keep a copy for tax and record-keeping purposes for about three years, as recommended by the IRS. You could consider electronic record-keeping options if they’re provided by your bank to reduce the need for physical slips. Keep important slips longer if they relate to large financial transactions or legal matters.
Make filling out a deposit slip and signing easier.
Whether it’s a deposit slip or another digital form from your bank, when you create signatures electronically, be sure to use a secure e-signature tool for protection and ease. You can also sign a check electronically to save time, along with other bank-related items.
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