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Do Banks Still Use Deposit Slips?

Technology has changed so much of our business world, and innovation continues to shape how it looks. So, do banks still use deposit slips? It’s a great question, and the answer is yes – proving that sometimes the most effective items don’t change too much.

What is a deposit slip in banks?

Bank deposit slips are paired with checks to detail the financial transaction.

The teller keeps the original deposit slip and the deposit (cash or check) at the bank, and the depositor is provided with a receipt and (sometimes) the deposit slip duplicate. Deposit slips are also called deposit tickets, and their designs may differ depending on the bank.

In filling out bank deposit slips, you must first fill in the following:
  • Your personal information
  • Account number
  • The name of the account holder to whom the deposit is being made to
This is why most people rely on pre-printed and customized deposit slips to save time and ensure accuracy instead of having to write it all down.

The deposit information is next, and you’ll include details about the funds being deposited, including coins and bills. If you are depositing checks, they must be listed by individual check numbers. Finally, the subtotal is defined, including if any withdrawals are happening. You’ll sign the deposit slip as the last step.

If you need guidance on how to fill out business deposit slips or how to fill out a business deposit slip with multiple checks, our guide has all the steps.

WHY do banks still use deposit slips?

Deposit slips protect you and the bank.

Deposit slips provide proof of payment, and this receipt matters. If there’s ever a dispute between the depositor and the bank, these deposit slips provide essential information to help resolve the matter. Banks also rely on deposit slips to record the daily deposited funds.

Bank deposit slips types

Many businesses need multiple types of bank deposit slips. Here are your options to choose from:
  • Business Deposit Tickets: Available in 10 different formats, these are printed with your company information and bank information, making it easy (and accurate) to deposit and cash checks.
  • QuickBooks® Compatible Deposit Tickets: These save time and reduce errors using QuickBooks® laser deposit slips since they use your already-entered data to ensure accuracy and eliminate the need for double entry.
  • Peachtree/Sage 50® Compatible Deposit Tickets: These are specifically for the Peachtree/Sage 50® laser deposit checks, also eliminating the double entry task while ensuring accuracy.
  • Manual 3-Per-Page Deposit Slips: Preprinted with all your details (account number, name, and address), these save you time at the bank. Plus, our 3-per-page Manual Deposit Tickets fit in the 7-ring binder for easy access.
  • Personal Deposit Tickets: These compact-sized personal deposit slips are perfect for quickly and easily depositing cash, currency, and checks.
Business Check

All deposit slips can be customized with all your details here at Checksforless.com®. We guarantee bank deposit slips are bank-approved, meeting, or exceeding industry bank processing standards, including Check 21 regulations. We use a simple and secure online ordering process that captures all the necessary banking details.

Deposit slips backed with guarantees

Checksforless.com® is proud to offer the following:
  • 100% product satisfaction.
  • We’ll beat any lower price on deposit slips by 10%.
  • All Checksforless.com® checks exceed the security guidelines set by the industry and by the Check Payments Systems Association. Our site uses Hacker Safe systems and Secure SSL (Secure Sockets Layer) technology to safeguard your information against fraud. We protect your personal and financial information through Enhanced Identity Lock Theft Protection (double verification) and the best in 3rd party security validation.
  • Expedited production, same-day production, and overnight shipping options from our printing presses.
  • Simple reordering for all deposit slips.

Order your bank deposit slips now!

Checksforless.com® is the ultimate destination for your custom deposit slips and all your banking supplies.

If you’re ready to order deposit slips that will save you time and money, visit us at Checksforless.com or call us toll-free at 800-245-5775 to get started or ask questions. We look forward to helping you with all your personal and business checking needs!

This article is made possible by Checksforless.com®. For more than 35 years, Checksforless.com® has provided over 500,000 businesses with high quality business checks, deposit slips, and other banking supplies with easy ordering and fast production times; all at the guaranteed lowest price in the nation. Our discount business checks are easily customizable and compatible with over 4,500 software programs including QuickBooks and Peachtree/Sage 50 (formerly Peachtree). Email or call us toll-free at 800-245-5775 or visit us online at Checksforless.com®.

Reference: https://corporatefinanceinstitute.com/resources/wealth-management/deposit-slip/
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