How to Submit Cheque in Bank and Fill a Cheque Deposit Slip

Modern-day banking entails online transactions and digital fund transfers. Today, we receive payments via systems such as NEFT and IMPS. This begs the question, ‘Are cheques still relevant?’ The answer is yes! You still need cheques, especially for high-value transactions. As such, it is vital to understand how to deposit a cheque in a bank and fill out a cheque deposit slip. This article explains the steps and requirements in detail.

A cheque deposit slip, also known as a pay-in slip is a short form that you must fill while depositing cheques drawn in your favour. You can obtain the slip at your bank’s branch or their ATM kiosks. Each cheque deposit slip records certain details about the payer and the payee, which helps the bank process the cheque and credit the funds into the right accounts. After filling out the slip, you can deposit it along with the cheque, and wait a few days for the bank to clear the cheque. 

If you receive payments via cheques, you should know how to fill the deposit slip. Here are the steps to fill the deposit slip:

• The Date: Enter the date – not the one on the cheque, but the date when you deposit the cheque in your bank.

• Name and Account Number: Ensure you write your full name on the slip, as mentioned on your bank’s passbook, along with the bank account number. 

• Issuing Bank and Branch Name: The cheque deposit slip comprises a section where you must enter the name of the drawer’s issuing bank and branch.

• Cheque Number: You must also enter the 6-digit cheque number, which you can typically find on the bottom left corner of the cheque.

• Cheque Amount: You must clearly enter the cheque amount in figures, and also spell it out in words, in the appropriate sections.

• Signature and contact number: Lastly, you must sign the cheque deposit slip and provide your contact number, in case the bank needs to contact you.

It hardly takes two minutes to deposit a cheque, if you know the process. The following simple steps explain how to submit cheque in bank. 

1. Fill the slip: Start by filling out the slip by entering your name, account number, issuing bank’s name and branch, cheque number, and amount (in figures and words), along with your signature and contact number. The slip comprises two sides – a smaller counterfoil and a broader section, and you must fill both.

2. Attach the cheque: Next, you must attach the cheque to it, using a paper/binder clip or a staple pin. You must also write your name, account number, and contact number on the flip side of the cheque. 

3. Review and submit: Lastly, you must review the deposit form, after which you can drop it in your bank’s cheque drop box. You may also drop it off at your banks’ nearest ATM vestibule comprising a Cheque Deposit Box.
    

The bank stamps the counterfoil – the section of the slip where you will have filled the details in duplicate. You must keep the counterfoil safe, in case you need it again. Also, note that if you deposit cheques regularly, you can take a few deposit slips from the bank for future use. 

Banks typically clear cheques within 2-5 working days. The total time it takes to clear a cheque largely depends on the bank’s location – whether it is in a big city or a smaller town. It also depends on whether it is a local or outstation cheque. While local cheques are typically processed faster, outstation cheques may take longer to clear, as they also entail inter-bank verification.Besides this, the cheque clearance time also depends on each bank’s internal processes and the RBI’s clearing systems. Once a cheque is cleared, the funds are credited into the payee’s account. 

Besides your bank’s branch, there are other ways for you to deposit your cheques, such as:

• At Your Bank’s ATM Kiosks/Vestibules: Many ATM vestibules comprise a second machine known as a Cheque Deposit Machine (CDM). Here, you need to insert your Debit Card, enter your PIN, and select the deposit option. A slot opens, wherein you can place your cheque. The machine then scans your cheque, verifies your savings account details, and provides an acknowledgement receipt. 

• Cheque Drop Boxes: Some Banks in India also provide the same, old-fashioned cheque drop boxes, as found at their bank branches. You simply need to find such ATM kiosks where you can deposit your cheques (typically through your bank’s apps). Once you do, you can visit the ATM, fill out the deposit slip, and attach the cheque. Review the form and drop it off with the cheque in the drop box. 

At HDFC Bank, we enable you to deposit your cheques at your nearest HDFC Bank branch, which may or may not be your home branch. You can also use cheque deposit boxes and CDMs to deposit your cheques. The steps to deposit a cheque remain standard across all banks, including HDFC Bank.

If you need help locating your nearest CDM or cheque deposit boxes, you can use the HDFC Bank Branch Locator and find one by selecting your state and city’s name from the drop down menu. You must click on the filter for ATMs. Alternatively, you can run a quick Google search for ‘HDFC Bank CDMs near me’ to find your nearest CDM. 

While online fund transfers are becoming increasingly common, cheques deposits have not become totally obsolete. Since banks levy daily limits on online transfers, you need cheques for high-value payments.  At HDFC Bank, we provide a free cheque book when you open your account. You can also get cheque deposit slips at your bank’s branch or ATMs to conveniently deposit your cheques. 


*Disclaimer: Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.