ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A deposit slip is a written order to your bank instructing it to put funds into your account. You can use a deposit slip to put money such as cash, checks, and money orders into your account. Be sure to endorse or sign any check that had been made payable to you before you deposit it.

Detailed explanation-2: -Deposit slips are also called deposit tickets and come in a variety of designs. They are signed by the depositor if the depositor is cashing some of the accompanying check and depositing the rest.

Detailed explanation-3: -A deposit slip can help you transfer funds into your bank account via cash or cheque.

Detailed explanation-4: -Essentially, a bank deposit slip is an accompaniment to a cheque or cash payment that gives the bank teller all the information they need to make sure the right amount of money reaches the correct account.