What Is a Deposit Form and How Do You Fill One Out?

A deposit form, often called a deposit slip, is a printed document provided by financial institutions for adding funds to a bank account. This form serves as a written record for both the depositor and the bank. It helps ensure money is accurately processed and credited to the correct account.

Purpose of a Deposit Form

Deposit forms are a standard part of banking operations. They help banks correctly credit funds to the intended account, whether cash or checks. The form provides a detailed breakdown of deposited items, aiding in reconciliation and preventing discrepancies. This documentation serves as a record of the deposit. Banks use these slips to maintain a ledger of daily deposits, ensuring all funds are accounted for.

Information Required to Complete a Deposit Form

Before filling out a deposit form, gather all necessary information. This includes the date of the deposit, the full account number where funds will be credited, and the account holder’s name. For cash deposits, count and break down the currency by denomination, indicating the total amount of bills and coins. If depositing checks, each individual check should be listed with its specific amount. Finally, calculate the grand total of all cash and checks being deposited.

How to Fill Out a Deposit Form

Filling out a deposit form is a straightforward process. Begin by writing the current date, your full account number, and the account holder’s name in the designated fields. For cash, write the total amount of currency and coins in the “cash” line, often separated into dollars and cents columns. Each check being deposited should be listed individually, typically with its amount, and sometimes the check number, in the “checks” section. After listing all cash and checks, calculate the subtotal; if requesting cash back, subtract that amount from the subtotal to find the final net deposit amount, noting that some forms may also require a signature.

Using a Deposit Form

After completing the deposit form, submit your funds to the bank. Present the filled-out form along with your cash and/or checks to a bank teller or insert them into an ATM that accepts deposits. The teller or ATM will verify the amounts against your form to ensure accuracy. Upon successful completion of the transaction, you will receive a deposit receipt. Retain this receipt for your personal records, as it serves as proof of the transaction and can be useful for tracking your finances.