For most everyday purposes, once the deposit is reflected in your account statement, you can discard the slip. However, it’s a good practice to keep a copy for tax and record-keeping purposes for about three years, as recommended by the IRS. You could consider electronic record-keeping options if they’re provided by your bank to reduce the need for physical slips. Keep important slips longer if they relate to large financial transactions or legal matters. They provide essential information to the bank and need to be completed correctly. When you are depositing money into your account through the bank’s mobile app, you do not have to fill out a deposit slip.

Key Ways Banks Can Help You Manage Your Cash Flow

Sign the deposit slip in blue or black ink and include any other required information. If you’re depositing several checks, you might need to use the back of the deposit slip to list the entire batch of checks. Other than that, filling out a deposit slip for depositing multiple checks is essentially the same as it would be for depositing just one check.

• Here’s a deposit slip example to show you where to place the correct information.
• We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site.
• Customers can request a copy of their deposit if necessary, including the itemized amounts that made up the total deposit if there’s a dispute with the bank.
• It’s filled out much like a regular check, but it includes various deposit kinds.
• Double-check all your information before handing it over to the teller as well.
• While physical deposit slips are still used, many banks also offer electronic alternatives, simplifying the deposit process for customers.
• First and foremost, SoFi Learn strives to be a beneficial resource to you as you navigate your financial journey.We develop content that covers a variety of financial topics.

Take Your Receipt

Modern banking often happens online, but the bank requires the same information —whether online or standing before a teller. Learning how to fill out a bank deposit how to write a deposit slip slip correctly is crucial for bank transactions. If you’re depositing numerous items at once, use the back of your deposit slip or ask a bank employee for guidance.

Resources for Your Growing Business

• While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation.
• One way to do this is by outlining all payment methods you accept on your invoices.
• Even if you have bank accounts with multiple banks, it’s easy to print a deposit slip with the right slip templates.
• This final step isn’t always necessary because some banks don’t require depositors to sign their deposit slips.
• Checks are a paper form of payment that can be deposited into a bank account in several ways, including through traditional and newer, digital methods.
• If you’re depositing through an ATM, you may not need a deposit slip at all, so you won’t need to sign anything.
• Many major banks allow you to make mobile deposits if you’re depositing a check.

If you need to write this information, make sure you fill in the correct account number. If you want to stay organized, you can also put the cash in an envelope, and the bank teller will take it from there. The best way to know how much you can spend is to check your available balance or ask bank staff when the funds will become available. Most importantly, don’t assume that you can spend all of the money from large check deposits immediately. Keep in mind that most banks have a limit to the amount of mobile deposits you can make each day. Check those limits to confirm that you’ll be able to complete your deposits.

On the other hand, checks are a method of payment between two parties. This final step isn’t always necessary because some banks don’t require depositors to sign their deposit slips. However, if you want cash back from your deposit, you must sign it. If you’re keeping some or all of the cash from a check and cash deposit, you usually must sign the deposit slip.

The deposit receipt proves that the deposit was made, but the receipt only shows the total of the deposit. Please disable your adblocker to enjoy the optimal web experience and access the quality content you appreciate from GOBankingRates. If you do not want to get any cash back from your deposit, you can leave this section empty. If you are uncertain about anything, call your branch and ask them for assistance with technical details, like the branch code. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.

• You also don’t need a special printer and can use any printer to print deposit slips.
• Typically you just confirm the dollar amount and review any account and routing information from the check.
• But if you are not depositing any checks, leave this section empty.
• Using the example above, the total would be $105.25 if you decided to take no cash back.

Also, businesses may be able to deposit checks using a check scanner, depending on the bank. Cash, of course, still needs to be deposited in person or through a deposit box. Similarly, fewer ATMs require users to submit a deposit slip because new technology allows the computers in ATMs to read https://www.bookstime.com/ checks and count cash. This includes all of the checks and cash that are being deposited. In this article, we’ll include detailed instructions on how to fill out a deposit slip, as well as the benefits of using these forms. We’ll also include an example of a deposit slip for easy reference.

If you can’t find one in either of those places, you can ask for one at the teller window at your bank. For example, if you’re a credit union member using a different credit union’s branch (via shared branching), you’ll need to write in the name of your “home” credit union. The teller will keep the filled-out deposit slip and give you a receipt so you can track the bank transaction deposit in your records. You might also receive a copy of the deposit slip, depending on your bank.

Alternatives To Traditional Deposit Slips