Deposits

In savings accounts and current accounts, a deposit is made by filling up a form called pay-in-slip. There is a counterfoil which is stamped by the bank’s cashier and signed by him and returned to the client. This counterfoil is evidence that money has been duly received by the bank. Separate pay-in-slips have to be filled in for depositing cash and cheques. Also, there are different pay in slips for local and out-station cheques.