Reviewed by Aug 27, 2020| Updated on
A deposit slip is a small physical form that a bank customer includes when depositing money into a bank account. A deposit slip contains the date of deposit, the name of the depositor, the depositor's account number, and the amount being deposited.
What is Deposit Slip?
The deposit slip works as a proof for the bank acknowledging the payment received from the customer. Upon entering a bank, a customer can find a pile of deposit slips with designated fields to fill in the required information to complete the deposit process.
Why Deposit Slip is important?
The account number to which the funds must be transferred must be written at the bottom of the slip for a successful transfer. You must fill up the details in a deposit slip before you approach a bank teller to deposit funds. The slip also states if the deposit was made through cash, check, or if the depositor needs some cash from the check.