Americans call a "pay-in
slip" a "deposit slip." This is a
preprinted form which is the size of a standard check and typically comes in the back of the
checkbook. It has the customer's name and account number, and customers write down how much
money they want to deposit into a checking or savings account. They detail the exact amount of
each physical check they are bringing to the bank and/or the exact amount of cash and coins they
are depositing. Once the deposit is made at the bank, the customer is given a receipt to prove
that the deposit has been made into the proper account. This is becoming a less common practice
as many people are switching to direct (electronic) deposits.
A
withdrawal slip is a piece of paper that customers take into their
banks requesting that money be removed from an account and given to them (usually in cash). The
paper contains the customer's name, date, account number, and amount of money the customer
wishes to withdraw. Again, once the withdrawal is made, the customer is given a receipt to
verify that they money has been withdrawn and for the exact amount on the receipt. Sometimes
customers who are withdrawing large sums from their accounts are asked to provide identification
to verify that the person making the withdrawal has permission to do so.
Banks typically send a bank statement (those now come
electronically as often as in paper form) each month to review for customers the status of their
accounts each month. The statement will detail each deposit and withdrawal made from the
account, as well as any interest earned (if applicable). It also contains the starting balance
and ending balance for the month and any additional fees the customer has been charged for
banking services. It is important for customers to go over this statement and reconcile their
own record keeping to make sure that the amount of money they think they
have in their bank is the actual total the bank claims is in the accounts
and that no errors have been made by either party.
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