BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When you receive cash back
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When you deposit any amount of cash
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When you deposit more than $100
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When you deposit more than $10, 000
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Detailed explanation-1: -The deposit slip provides proof and acknowledgment that the bank has received the funds. Once the teller has accepted the deposit for processing, they normally sign the deposit slip and place the bank’s official stamp on both the original and duplicate deposit slips.
Detailed explanation-2: -You typically only need to sign a deposit slip when you want cash back from your deposit. If you’re only depositing funds, you don’t need to sign the deposit slip. If you’re making a deposit through an ATM, you may not need a deposit slip at all, so you won’t need to sign anything.
Detailed explanation-3: -Ready to cash a check? First, you have to endorse it. Depending on what you want to do with the check and how the check is written, this will determine what you write on it and when you sign it. Endorsing a check allows your bank and you, or a third-party, to settle the funds associated with the check.
Detailed explanation-4: -The space for your signature will say: Sign here if cash received from deposit. If you don’t wish to receive cash back from this transaction, you can leave this space blank.