How to fill out a bank deposit slip

Have your account information ready to reference so it goes quickly.

Last updated:

Bank deposit slips are used to add cash or cheques to your chequing or savings accounts. It only takes a couple of minutes to fill out — but most banks will let you deposit cheques through a mobile banking app if you’d rather skip it altogether.

EQ Bank Savings Plus Account

EQ Bank Savings Plus Account

2.00 % APR

rate

  • Zero everyday banking fees
  • Free transactions
  • No minimum account balance

EQ Bank Savings Plus Account

With no everyday banking fees and free transactions, open an EQ Bank Savings Plus Account and get an interest rate of 2.00%.

  • Account fee: $0
  • Interest rate: 2.00%
  • Min. deposit amount to open account: $0
  • Account type: Savings
Go to site
Promoted

What is a deposit slip?

A bank deposit slip can be used to add funds to your bank account. You can deposit cash and cheques on the same deposit slip. Most banks will also let you request to withdraw cash from a cheque you’re depositing on the slip.

Deposit slips can be used at a bank branch or at certain ATMs. If you’re depositing a cheque or cash at an ATM, check that the ATM accepts deposits and whether you’ll need an envelope to keep your deposit slip and money together.

How do I fill in a deposit slip?

Deposit Slip Basic Edited Numbered

Completing a deposit slip may require that you provide:

  1. Account number. Enter the account number where you want the money deposited. You may need to enter it on both the cheque and cash sides of the slip. If you’re not sure what your account number is, you can find it on one of your own cheques, through your bank’s online banking platform or by asking a bank teller. If you want more information on what information is included on a blank cheque or how to properly fill one out, check out our other article.
  2. Branch (Transit) Number. You should be able to find your branch number near the account number at the bottom of your cheque, in your online banking account or by asking a teller.
  3. Date. Use the date you’re making the deposit on, not the date on the check.
  4. Initials. Depending on your bank, you may be required provide your name, initials and signature.
  5. Cash. Enter the amount of cash you’re depositing, including change. Like in the example above, you may have to enter the number of each type of bill and coin under the Cash Count column. In the Amount column you would write the total value for each type of bill or coin. For example, if you were depositing three $5 bills, you would write 3 under Cash Count and $15.00 under Amount. Then, enter the total amount in both Cash Subtotal lines by adding up all of the bills and coins.
  6. Cheques. Write the value of each cheque in the Amount column on separate lines. Under the Cheque Identification column write the cheque number. The cheque number is a unique identifying number printed on every cheque in a cheque book. It’s usually printed in the upper right corner of the cheque and as the first set of numbers along the bottom. Add up the total amount of all cheques to write in both Cheque Subtotal lines.
  7. US Cash or Cheques. Your deposit slip may give you the option to deposit US cash or cheques. Like in the example slip above, you would need to write the total value of US cash and US cheques in the appropriate lines. You can also include the exchange rate in the Rate line.
  8. Total deposit. Write the total amount you’re depositing into your bank account on the line / in the box at the bottom by adding up all cash and cheques.

    Mobile phone deposits

    Many banks allow customers to deposit cheques online or by using your mobile banking app. The processes will be slightly different depending on which bank your with.

    Personal deposits

    You may be able to deposit cheques into your personal account via your bank’s mobile app. You’ll generally need to take pictures of the front and back of your cheque using your phone when prompted. Check with your bank to find out if you’re bank offers mobile deposits through their app.

    Business deposits

    If you regularly deposit cheques for your business, you may be able to deposit electronically using a cheque scanner. Check with your bank to find out if your business is eligible and how to get started.

    If you’re depositing cash, you’ll still need to do it in person — though some bank branches offer night deposit boxes for after-hours deposits.

    Some banks let their business account holders make use of express deposits. To make these deposits you may have to use business deposit slips, like the one in the example above. Your bank will likely provide you with a business express deposit envelope that you can use to make the required deposit. Place the deposit in the envelope and seal it. Make a note of the deposit details outside the envelope. Tear off any receipt that you get to keep. Deposit it using any given method.

    All savings accounts

    Name Product Annual Interest Rate Promotional Interest Rate Minimum Balance Account Fee
    Tangerine Savings Account
    0.40%
    2.5%
    $0
    None
    Earn 2.5% interest for 5 months when you open your first Tangerine Savings Account by April 30, 2020. (up to a maximum of $1,000,000).
    EQ Bank Savings Plus Account
    2.00%
    N/A
    $0
    None
    Enjoy zero everyday banking fees, free transactions and no minimum balance with an EQ Bank Savings Plus Account.
    Wealthsimple Cash
    1.40%
    N/A
    $0
    None
    Earn 1.4% on any money you invest and withdraw your funds at any time.

    Compare up to 4 providers

    *The products compared on this page are chosen from a range of offers available to us and are not representative of all the products available in the market. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.

    Bottom line

    Depositing cash or checks into your bank should be simple, but the deposit slips and electronic options can vary from bank to bank. If you make regular deposits, talk with your financial institution about the most efficient way to handle your finances. And if you’re looking for a new bank, compare banks to find one that’s the right fit for you.

    Frequently asked questions

    Ask an Expert

    You must be logged in to post a comment.

    Go to site