BASIC DOCUMENTS AND

TRANSACTIONS RELATED
TO BANK DEPOSITS
01
SAVINGS
ACCOUNT
SAVINGS ACCOUNT
A savings account is a basic type of deposit
account and can be withdrawn any time the
depositor decides to. The bank may issue an
automated teller machine (ATM) card or a passbook
for the savings deposit. A savings account with a
passbook requires a higher initial deposit and
maintaining balance to earn interest compared to a
savings account with an ATM card.
SAVINGS ACCOUNT
SAVINGS ACCOUNT
SAVINGS ACCOUNT
SAVINGS ACCOUNT
SAVINGS ACCOUNT
Both the ATM and passbook can be used for
withdrawal transactions, but in such cases, a
withdrawal slip should accompany the passbook.
Clients deposit their funds into a savings card
account for safekeeping as well as interest income.
 02
CHECKING
OR CURRENT
ACCOUNT
CHECKING OR CURRENT ACCOUNT
A checking or current account is usually non-
interest earning and is evidenced by a checkbook.
Similar to a savings account, a checking or current
account can be withdrawn any time and is also
payable on demand, except for post-dated checks. It
can be withdrawn through check or the ATM. The
initial deposit and maintaining balance for a
checking account is usually higher than those for
savings.
CHECKING OR CURRENT ACCOUNT
A check is a bank instrument used to put in
effect the payment of the issuer to a payee. The
check carries the name of the bank branch where the
checking account is maintained by the depositor.
 03
TYPES OF
CHECKS
TYPES OF CHECKS
There are two types of checks the personal
check and the commercial check.
Personal check booklets are issued by the
bank to individual depositors with only one signatory.
For businesses, a commercial check booklet with two
signatories is issued. Both personal and commercial
checks are printed by a printing house accredited by
the Philippine Clearing House Corporation (PCHC).
TYPES OF CHECKS
The PCHC is a local body that gives
specifications on information that must be contained
in the check. Having been cleared by the PCHC, a
check offers its users ease as a medium of
exchange.
TYPES OF CHECKS
A precautionary measure in writing check is by
crossing it so that it will be deposited to the account
of the rightful payee. To cross a check, mark the
check with two parallel diagonal lines at the top left
corner, or indicate “for deposits only” or “for payee
account only” on it.
TYPES OF CHECKS
TYPES OF CHECKS
TYPES OF CHECKS
TYPES OF CHECKS
For both savings and checking or current
accounts, the depositor is also furnished with copy of
the bank statement, either with a hardcopy or
through online access. The bank statement shows
the transaction details of the account.
 04
BANK
STATEMENTS OF
A CHECKING
ACCOUNTS
BANK STATEMENT OF A CHECKING
ACCOUNTS
BANK STATEMENT OF A CHECKING
ACCOUNTS
Inward clearing
checks refer to checks
issued by Sunshine
Enterprises to its payees
such as suppliers and
creditors.
BANK STATEMENT OF A CHECKING
ACCOUNTS
Over-the-counter
checks are encashment
or on- us check deposits
at HXH Bank.
BANK STATEMENT OF A CHECKING
ACCOUNTS
A credit
memorandum (CM) is an
advice from the bank
which tells that the
account increased due to
collection by the bank in
the account owner's
favor.
BANK STATEMENT OF A CHECKING
ACCOUNTS
The returned (RT)
check of ₱5,000.00
represents the check
deposit on May 24, 2018
which was dishonored by
the customer’s depository
bank.
BANK STATEMENT OF A CHECKING
ACCOUNTS
Possible reasons for the return are drawn against
insufficient funds (daif) which is a check processed
through the PCHC but dishonored by the drawee bank
because the account’s balance cannot cover the check,
drawn against uncollected deposits (daud), stop payment
check (stp), or post-dated check (pdc).
BANK STATEMENT OF A CHECKING
ACCOUNTS
A depositor who has both savings and checking
account with the same bank may enter into an
Automatic Transfer Arrangement (ATA). He or she
signs an agreement for ATA by which he or she may
transfer funds from savings to checking account,
whenever there is check or debit advice that needs
funding. All client's deposits are made to the savings
account.
 05
BANK
ACCOUNT
FORMS AND
DOCUMENTS
BANK ACCOUNT FORMS AND DOCUMENTS
How to open an account?
Step 1: Visit the financial institution of your choice,
and speak to a customer agent about opening a
checking account.
Step 2: Present two valid identification cards.
Step 3: Fill out information on depositor’s
information sheet and signature cards.
Step 4: Once account is approved, you can make
your first deposit.
BANK ACCOUNT FORMS AND DOCUMENTS
When making a deposit, he or she must fill up a
deposit slip and mark the appropriate description
applicable to his or her deposit. The deposit slip
indicates the name of the bank and its branch, and
the type of account whether current or savings. It
has spaces or blanks for date, account number,
name of depositor, details of check deposit, and
denomination of cash deposit.
BANK ACCOUNT FORMS AND DOCUMENTS
For on-us deposits, the check is drawn by an
account maintained with the same bank the client is
transacting with, hence, the deposit is withdrawable
any time. Local clearing checks are other bank’s
checks deposited by the client for clearing with
PCHC.
BANK ACCOUNT FORMS AND DOCUMENTS
Nowadays, banks also offer an advanced
technology service called the on-site electronic
deposit. With this technology, cash deposit can be
made to the cash-accept-machine which counts the
cash and credits it to the deposit account on real time.
The purpose of the on-site electronic deposit is to
lessen lobby queue and eliminate bank charges for
interbranch deposits.
BANK ACCOUNT FORMS AND DOCUMENTS
BANK ACCOUNT FORMS AND DOCUMENTS
BANK ACCOUNT FORMS AND DOCUMENTS
BANK ACCOUNT FORMS AND DOCUMENTS
A debit/credit memorandum is prepared by the
client for special requests such as transfer of funds
(for accounts without ATA), payment of reorder
checkbooks, and advance payment on loans,
among others.
BANK ACCOUNT FORMS AND DOCUMENTS
THANK YOU!