What Is the Purpose of a Bank Deposit Slip?

Bank deposit slips are used when you deposit money and checks in order to keep track of the money that you are putting into your account. Deposit slips are available from your financial institution.

Banks use deposit slips to keep track of transactions.

Types

There are different deposit slips for different account types including savings accounts and checking accounts. You may have deposit slips for your accounts that have your account number on them, whereas generic deposit slips require you to write your account number on them.

Features

Deposit slips have you write down each check you are depositing along with the net amount of cash you are putting into your account.

Purpose

Deposit slips are used by the bank to verify your deposits. The bank checks to make sure the amounts on the checks match the deposit slip and the total is added correctly to make sure that the correct amount is added to your account.

Location

You can use a deposit slip when you are making a deposit in person at a bank, dropping an envelope with a deposit into an ATM drop box or when mailing checks to your bank to be deposited.

Potential

More people are switching to direct deposit through which employers transmit paychecks directly into employees' accounts rather than writing payroll checks. Bank statements reflect the deposits that have been made in the previous pay period.

References

• Deposit Slip
• Deposit Slip Definition