A deposit slip is a small paper form you use when putting money into your bank account. It tells the bank who you are, which account the money should go into, the date, and how much money you’re depositing. This helps the bank record your transaction correctly and gives you proof that you made the deposit.
Deposit slips are most commonly used when you visit a bank branch and deposit cash or checks with a teller.
Why Deposit Slips Are Important
Deposit slips help protect both you and the bank. For the bank, they provide a clear record of where money should be credited. For you, they act as evidence that the bank received your money.
For example, if you deposit $500 in cash and there’s ever a question about whether the money reached your account, the deposit slip and receipt can help resolve the issue.
How to Fill Out a Deposit Slip
When you walk into a bank, you’ll usually find blank deposit slips near the teller area. Before handing your money to the teller, you fill in a few key details:
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Your name
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The date
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Your bank account number
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The amount of cash you’re depositing
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A list of checks (if any) and their amounts
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Whether you want any cash back from the deposit
Once completed, you give the deposit slip along with your cash or checks to the teller.
What Happens Next?
The teller checks that the money matches the amounts listed on the slip, processes the deposit, and gives you a receipt. This receipt confirms the deposit was accepted.
Deposit Slips in Checkbooks
If you have a checkbook, you’ll often find deposit slips printed in the back. These are especially convenient because your account number and bank routing number are already filled in. You only need to write in the deposit amounts.
This reduces mistakes and saves time at the bank.
Benefits of Using Deposit Slips
Deposit slips offer several advantages, especially for in-person banking:
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They help ensure money is deposited into the correct account
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They create a paper trail in case there’s a dispute
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They help banks balance their records at the end of the day
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They give customers peace of mind when depositing large amounts
Even though your receipt shows the total deposit, the deposit slip contains the detailed breakdown.
Do You Always Need a Deposit Slip?
Not anymore. Many banks now offer deposit options that don’t require a paper slip, such as:
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ATM deposits that automatically scan checks and credit your account
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Mobile check deposits using your smartphone’s banking app
For mobile deposits, you simply take photos of the front and back of the check and submit them through the app. This is especially helpful if you can’t get to a bank branch.
What Is a Bank Routing Number?
A routing number is a nine-digit number that identifies your bank. It’s often printed on deposit slips and checks. This number helps banks process transactions correctly and ensures funds go to the right financial institution.
Do Banks Keep Records of Deposit Slips?
Yes. U.S. banks are required by federal law to keep records of deposits over a certain amount for several years. Today, these records are almost always stored digitally, not on paper.
This means even if you lose your receipt, the bank can usually locate the transaction in its system.
Are Deposit Slips Becoming Obsolete?
Deposit slips are still used, but they’re becoming less common as banking technology improves. ATMs and mobile apps allow deposits without filling out any paperwork, making banking faster and more convenient.
That said, deposit slips remain useful for:
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Large cash deposits
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Business banking
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Customers who prefer in-person service
The Bottom Line
A deposit slip is a simple tool that helps ensure your money goes into the right bank account. While digital banking has reduced the need for paper slips, they still play an important role in traditional banking transactions.
Whether you’re depositing cash at a teller or using a mobile app to deposit a check, the goal is the same: making sure your money is recorded accurately and safely.
