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    Bank Accounts and Documents Related To Deposits

    Uploaded by

    Yve Luelle
    The document discusses different types of bank accounts including savings accounts, checking accounts, and time deposits. It describes key features of each type of account such as interest earned, debit cards, online access, and minimum balance requirements. The document also covers related documents used for deposits and withdrawals including deposit slips, withdrawal slips, and check deposit slips.

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    © All Rights Reserved
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    Bank Accounts and Documents Related To Deposits

    Uploaded by

    Yve Luelle
    9 views23 pages
    The document discusses different types of bank accounts including savings accounts, checking accounts, and time deposits. It describes key features of each type of account such as interest earned, debit cards, online access, and minimum balance requirements. The document also covers related documents used for deposits and withdrawals including deposit slips, withdrawal slips, and check deposit slips.

    Original Title

    Bank-Accounts-and-Documents-Related-to-Deposits

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    The document discusses different types of bank accounts including savings accounts, checking accounts, and time deposits. It describes key features of each type of account such as interest earned, debit cards, online access, and minimum balance requirements. The document also covers related documents used for deposits and withdrawals including deposit slips, withdrawal slips, and check deposit slips.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    9 views23 pages

    Bank Accounts and Documents Related To Deposits

    Uploaded by

    Yve Luelle
    The document discusses different types of bank accounts including savings accounts, checking accounts, and time deposits. It describes key features of each type of account such as interest earned, debit cards, online access, and minimum balance requirements. The document also covers related documents used for deposits and withdrawals including deposit slips, withdrawal slips, and check deposit slips.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 23

    What banks are existing in your locality?

    (Concept map)
    Do you have any bank account? Why do
    you maintain a bank account?

    How will you categorized you bank


    account?
    Savings Account: The simplest bank
    account is the savings account. It earns
    minimal interest and may have minimum
    balance requirement. Some savings
    account come with passbook, ATM or
    debit cards.
    Savings Account:
    Debit cards allow depositors to use their
    cards to make payments in various
    establishments.

    Internet banking privileges- depositors


    can access their Statement of Accounts
    and make payments online
    Savings Account:
    Withdrawals: over -the –counter,
    ATMs, on line payments and debit card
    transactions
    Checking Account:
    Is like a savings account with an added
    feature – the depositor can issue bank
    checks.

    Checking accounts rarely earn interest


    because of the fast turnover of
    transactions.
    Bank Check: provides additional
    control feature that prevent
    misappropriation of cash.
    Bank Check: a payee can be specifically
    named such that no other person or other
    entity can use it.
    A check can be “crossed “or restricted for
    payees account only. The check will only be
    accepted for deposit to the payee’s bank
    account and cannot be encashed over the
    counter.
    Time Deposits: are investment placements.
    The depositor agrees not to withdraw the
    funds over the contracted period in exchange
    for fixed interest rates that are higher than
    deposit rates. Time deposits are evidenced
    by certificates of time deposits (CTD)
    Unit investment trust funds (UITF):
    This allows investors to gain the benefit
    and suffer the losses of investment in
    stocks and bonds without directly investing
    in those securities. In UITF, the investor
    earns income not through interest but on
    the increase in the fair market value of the
    pooled fund.
    Unit investment trust funds (UITF): The
    investor can choose to keep his unit or
    liquidate.
    Deposit Slip:
    Deposit slip documents the deposit
    transactions. The depositor will indicate
    the account name as well as the account
    number.

    Cash Deposit slip and Check deposit slip


    Cash Deposit slip – denomination of the
    cash is needed

    Check deposit slip- amount of check,


    check number, and issuing bank.
    A bank deposits slip is validated by the
    teller that accepts the deposits.

    A validation is a receipt printed on the


    deposit slip to signify that the deposit was
    received by the bank.
    Withdrawal slip documents the
    withdrawal from a passbook account.

    A depositor indicates the account name as


    well as the account number from which
    account she wants to make a withdrawal.
    Withdrawal slip
    The account holder may withdraw from his
    account unlike in the deposits transactions.

    The bank will only release the funds after


    verifying the authenticity of the account
    holder’s signature.
    Withdrawal slip-Required information
    Account Name - the name of the depositor
    • Account Number – the unique identifier
    given by the bank for every account
    maintained
    • Date of the withdrawal
    Withdrawal slip-Required information
    • Type of account - savings or current
    • Currency
    • Amount to be withdrawn - the amount
    that the depositor wishes to withdraw from
    his account.
    The amounts in words and in figures are
    indicated.
    Withdrawal slip-Required information
    • Signature of the Depositor – this is the most important
    part in the withdrawal slip. The signature is a proof that
    the depositor is
    authorizing the bank to get money from his account.
    Usually, the bank compares the signature in the
    withdrawal slip against the
    signature in the bank records submitted during
    the opening of the account.

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