Deposit Slip

Deposit Slip Meaning:
In banking terminology, the term Deposit Slip refers to a form on printed paper provided by a bank to its customers for the purpose of filling out information pertaining to the addition of funds to an account. Deposit Slips are still typically used when interacting with bank tellers, but it is no longer necessary at many newer Automated Teller Machines or ATMs.

For example, deposit slips generally requests the depositor to provide the date of the deposit, the name of the account holder, the account number, and the particulars of the deposit. The depositor also lists all types of funds to be deposited such as checks, cash or coin and then totals the amount of the deposit. The depositor also makes a note if any cash is expected back and subtracts it from the amount deposited. This is then processed by the bank teller to ensure that the funds received match the ones listed on the slip. The teller then gives the depositing customer a receipt and any cash they requested back.