How to Fill Out a Deposit Slip Step-by-Step
Master the process of filling out bank deposit slips with this comprehensive guide, ensuring accurate and confident fund deposits every time.
A deposit slip is a paper form allowing individuals to record and submit funds into a bank or credit union account. This document serves as a detailed record of the transaction, ensuring accuracy when depositing cash or checks. Filling out a deposit slip correctly is important to ensure money is credited to the intended account without delay.
Key Information on a Deposit Slip
A deposit slip contains fields for specific deposit information. It includes space for the current date, the account holder’s name, and the account number. These fields ensure funds are directed to the correct destination.
Separate sections are provided for cash and checks. The cash line requires the total amount of physical currency. Individual lines are designated for listing checks, allowing for the entry of each check’s amount. A subtotal line combines the cash and check amounts, reflecting the total funds before any deductions.
Some deposit slips also include a “Less Cash Received” line, used if you wish to receive a portion of the deposited funds back in cash. The final “Net Deposit” or “Total” line indicates the actual amount added to the account after any cash back is deducted. A signature line may also be present, particularly if cash back is requested.
Completing Each Section of the Slip
Write the current date in the designated date field on the deposit slip. Carefully write your full account number as it appears on your bank statements or debit card. If your deposit slip is pre-printed, this information may already be included.
For cash deposits, count the currency and coins to determine the total. Write this amount in the line labeled “Cash,” ensuring that dollars and cents are placed in their respective columns. If no cash is deposited, this line should be left blank or indicated with a zero.
When depositing checks, each check should be listed individually on the lines provided below the cash section. Endorse each check before listing it. To properly endorse a check for deposit, sign your name on the back within the endorsement area and write “For Deposit Only” along with your account number. This restrictive endorsement ensures that if the check is lost, it can only be deposited into your specified account. If you have numerous checks, many slips have additional space on the back to continue listing them, with a total from the back brought forward to the front.
After listing all cash and checks, sum these amounts to calculate the subtotal. Write this figure on the “Subtotal” line. If you are not requesting any cash back, this subtotal will also be your final deposit amount; transfer it to the “Net Deposit” or “Total” line. If you are receiving cash back, enter that amount on the “Less Cash Received” line and subtract it from the subtotal to arrive at your final “Net Deposit” total. Sign the slip if required, especially when requesting cash back.
Submitting Your Deposit
Once the deposit slip is filled out, double-check that the amounts on the slip match the funds you are depositing. The most common method is presenting the slip and funds to a bank teller inside a branch or through a drive-thru.
The teller will verify the information and provide a receipt confirming the deposit, including the date, amount, and account credited. This receipt serves as your proof of transaction.
Alternatively, financial institutions offer ATM deposit services. Modern ATMs accept cash and checks directly without a slip. When using an ATM, follow the on-screen prompts, which guide you through inserting your debit card, selecting the deposit option, and feeding in your funds. The ATM will provide an on-screen summary and a printed receipt. Funds deposited via ATM or certain check deposits may be subject to a temporary hold, meaning they might not be immediately available for withdrawal.