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DEPOSIT SLIP: What Does Deposit Slip Mean?

A small written form that is sometimes used to deposit funds into your account. A deposit slip indicates the date, the name of the depositor, the depositor's account number and the amounts of checks, cash, and coin being deposited. The bank clerk typically verifies the funds received against the amounts listed on the deposit slip. The deposit slip is processed to indicate it was received and hands any requested cash to the customer Deposit slip is a form that is used by an account holder to deposit amount in his/her account. It can be used to deposit cash as well as through cheques. When a customer hold a cheque to deposit an amount in his/her account. The amount mentioned on the cheque deducted from drawer account and credited into drawee account. There are two copies of deposit slip.

Bank copy

&

Customer copy

Bank copy retains by bank and customer copy retains by customer for evidence. Elements of deposit slip: Name /code of branch Account title Account No. Date

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