Question

Describe briefly the use of pay-in-slips for depositing cash or cheques into the savings bank account.

Answer 1

Answer:

Explanation:

A pay-in slip is another term of deposit slip which is commonly used by us.

When a person wants to deposit his/her checks or cash in the bank account he/she needs to fill a customarily slip which requires certain details like the account holder`s number, date as well as the details relating to their deposit.

In case there are more than one cheques to be deposited, the depositor writes down each and every details pertaining to the cheques like the check number and the total deposited amount.

Hope this helps.