Making a Deposit & Ordering Checks
How to Make Deposits
One of the most important bits of information that sometimes gets overlooked is that before you can write checks, you must put money into your account. You can do this by filling out a deposit slip and giving it to the bank with your checks or cash. Deposit slips can be found in the back of your checkbook, but are also typically available at the bank teller area. You should always obtain a receipt for your deposit. It may be the first time, or just the first time in a long time and you have forgotten how to deposit checks. First you have to know your options, including where and where not to go and how technology makes it easier to deposit checks. The only thing you need is a deposit slip! The deposit slip includes your name, your account number, and how much you are depositing. This ensures that the money gets credited (added) to the right account. Be sure to sign each item that you plan to deposit. If the check is being paid to you, you are not required to sign it. However, for the sake of safety, you should write “For Deposit Only” on the back of the check.
- Write the correct date.
- Fill in the name of the account holder.
- List currency, including coins and cash.
- List each check separately using the back for additional checks if necessary.
- Add up the amount of all checks and cash and list under subtotal.
- If you want cash back, enter the amount under “less cash,” then subtract from the subtotal and enter the net amount deposited under “net deposit.”
- If you get cash back, you must also sign the deposit slip.
How to Deposit a Check
The only thing you need is a deposit slip! The deposit slip includes your name, your account number, and how much you are depositing. This ensures that the money gets credited (added) to the right account. If you happen to run out of deposit slips (generally included in the back of your checkbook) you can simply pick one up at the bank, all tellers will have them at their window. Also, be sure to sign each item that you plan to deposit. If the check is being paid to you, you are not required to sign it. However, for the sake of safety, you should write “For Deposit Only” on the back of the check.
Where to Deposit Checks
The best place to deposit checks is at the bank. This is a perfect reason to open a checking account if you don’t have one already…odds are you already have an account if you have read this far! If you don’t live or work close to your bank you can always just drop the check in the mail, just be sure to include your deposit slip with the proper documentation.
For convenience, some people make deposits at the ATM drive-thru. You need to use the ATM at your own bank; this is different from withdrawing money from any ATM.
- Drop Boxes (For after-hours purposes)
Similar to ATM deposits, you can deposit checks at a night-deposit box. Most banks have a drop box by the front door or at the ATM that you can utilize after regular business hours. They will be stocked with deposit slips right next to it, so you can do everything you need without waiting to see a teller.
- Direct Deposit
Everyone wants to make their life a little easier if possible, one way to do this is to stop depositing checks altogether. There is a way to have the money sent directly to your bank account! Contact your employer or the person at your job who handles payroll; ask if you can sign up for direct deposit. Many employers are now making this mandatory for new hires.
Where NOT to Deposit Checks
The most obvious and safest place to deposit your check is at the bank. You may be tempted to cash checks at the most convenient place to your place of employment or home, such as a payday loan shop. In doing this, I can assure you that you will pay dearly. Fees at payday loan and check cashing shops are extremely high. Although not always the most convenient, finding a bank is worth the extra time it may take.
When the time comes to reorder personal checks, you generally have these options:
- Order from your bank
- Order online or from a catalog
- Print your own checks
Let’s take a look at each of these options and evaluate them.
Order Personal Checks from Your Bank
This is probably the safety and easiest option. This involves little to no research on your part. All you must do is call the bank and tell them you need more checks. The bank may have a few printing or preference options for you, but that’s all. If you are limited with the amount of time you want to spend with this task, you should simply order personal checks through the bank.
Order Personal Checks from a Printer
If you like (design) choices, you may want to use an online printer. There are numerous printing options available online; you will likely also receive solicitations in the mail. These types of privatized print businesses will allow you to use fancy graphics on your checks, or you can personalize your checks with your favorite activity, sports team, etc. The highest risk of private printing operations is that you must give your checking account information to a third party. Most printers are trustworthy and cautious, but you may not want to take the risk.
Print Your Own Checks
If you are interested in designing your own checks, you can print your own. This is the best option for control and speed! You can literally have your checks done today if you want, but you must be careful. There is a greater investment of time and money required. The best aspect of printing your own checks is that you can get really creative with your designs. A final recommendation is that you will need to do your research on the proper process of printing checks.
Skip Personal Checks Altogether
Electronic payments can be set up with your creditors; such as the phone, water, or electric company. You should not run out of checks for a very long time if you still have some left over from a previous order. Most utilities and other creditors will allow you to establish online bill pay to make your life easier.