Legal Definitions - deposit slip

A deposit slip is a document issued by a bank that officially acknowledges the receipt of funds from a depositor. It serves as a record confirming the amount of money the bank received on a specific date.

A deposit slip is a written record provided by a bank that confirms money or checks have been received from an individual or entity on a specific date. It serves as an official acknowledgment that funds were added to a particular bank account.

• Example 1: Personal Checking Account Deposit
  Sarah receives her monthly paycheck and decides to deposit it into her checking account at her local bank branch. She fills out a deposit slip, indicating her account number, the date, and the amount of the check. After the teller processes the transaction, they stamp the deposit slip and return a copy to Sarah. This stamped slip is the bank's official acknowledgment that they received the funds from her paycheck on that specific date, confirming the deposit into her account.

• Example 2: Small Business Daily Receipts
  Mark owns a small bookstore and, at the end of each business day, he prepares the cash and checks received from customers. He then takes these funds to the bank, fills out a deposit slip detailing the breakdown of cash and checks, and deposits them into his business checking account. The bank teller verifies the amounts and provides Mark with a validated copy of the deposit slip. This document serves as the bank's confirmation that they received the specified daily receipts for his business on that particular day.

• Example 3: Depositing Funds for Another Person
  Aunt Carol wants to contribute to her nephew Leo's college savings account. She goes to Leo's bank, fills out a deposit slip with Leo's account number, the current date, and the amount of cash she is depositing. The teller processes the transaction and gives Carol a copy of the deposit slip. This slip acts as the bank's official record, acknowledging that they received the funds from Carol on that date, specifically for Leo's savings account.