Definition of 'Deposit Slip'
When making a deposit, the depositor will fill out the deposit slip and give it to the teller. The teller will then verify the information on the deposit slip and record the deposit in the depositor's account. The depositor will receive a receipt for the deposit.
Deposit slips are important because they provide a record of the deposits made to an account. This record can be used to track the account balance and to reconcile the account with bank statements. Deposit slips can also be used to prove that a deposit was made if there is any dispute about the amount of money in an account.
There are a few different types of deposit slips. The most common type is a paper deposit slip. Paper deposit slips are typically printed on preprinted forms and can be found at banks or online. Some banks also offer electronic deposit slips that can be completed and submitted online.
When choosing a deposit slip, it is important to select one that is appropriate for the type of deposit being made. For example, if a depositor is making a cash deposit, they will need to use a deposit slip that has a space for the amount of cash being deposited. If a depositor is making a check deposit, they will need to use a deposit slip that has a space for the check number and the amount of the check.
Deposit slips are an important part of banking. They provide a record of the deposits made to an account and can be used to track the account balance and to reconcile the account with bank statements.
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