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Paying-In Slips

credit, cheques, account, slip, branch and leeds

PAYING-IN SLIPS. Paying-in slips, or credit vouchers, are the forms which are filled up showing the amount of gold, silver, copper, notes, bills, and cheques which are paid in to the credit of a customer's account. Each slip should be signed by the customer, or the person who has prepared it on his behalf. The name of the account should be distinctly stated and the date should be that of the actual date on which the money is paid in. Any alteration in the date or amount should be duly initialled by the person signing the voucher. It is usual for the cashier receiving time credit to initial the voucher, and sometimes he also initials, or stamps with a rubber stamp, a duplicate slip, or, if a book of credit slips is used by the customer, the counterfoil, as an acknow ledgment to the customer that the cash, etc., has been duly received. A cashier's initials upon time counterfoil or duplicate voucher does not in any way mean that the cheques and bills included in it are in order. Some banks enter undue bills on time same slip as cash and cheques, but it is much better to enter them on a separate form.

Credit slips vary somewhat in form. Some are printed lengthways, like cheques, whilst others are printed across the slip.

(in page 388 is a specimen form of credit slip for use at the British Banking Company, Ltd., Leeds It is seen that a place is provided for the folio of the customer's account in the ledger. Gold, silver, copper, and notes are shown separately. The cheques are separated into three divisions, Leeds, London, and Country, Postal Orders being Included with the local cheques on Leeds hanks. If a separate slip is not used for undue bills, they could be detailed on the back of the credit slip and entered in total below " Country cheques." There is a space provided on which the person paying in may sign, and a place for the initials of the receiving cashier.

A slight variation in the printing is usually adopted for slips to be used by a person paying in at one branch for the credit of an account at another branch, or at another bank ; frequently such slips are further distinguished by being of a particular colour. There are also many different forms of slips in use by different firms and companies, which are used by their agents all over the country in paying in for their credit in London, or wherever the account is kept.

If Jones pays in at the British Bank, Leeds, various cheques for the credit of the Universal Bread Co. at the Hull branch of that bank, and one of the cheques should be dishonoured, the Leeds branch will debit the Hull branch with the amount of the unpaid cheque and send the cheque to Hull, and Hull will pass it on to the Bread Co.

Some hankers print upon their paying-in slips a notice that cheques, etc., for collec tion, though credited to the account when paid in, are not available for drawing against until the proceeds have been received at the branch.

Where Jones pays in country cheques to the credit of another customer's account, it is usual for the banker, when advising that customer of the receipt of the credit, to state that it consists of cheques which have not vet been cleared.

Where an official of a company pays in to the credit of the company's account, cheques payable to the company, it is not permissible for the official to receive part of the amount back in cash by simply making a deduction on the credit slip. A banker can pay out only when a cheque is drawn upon the account in the authorised way.

Credit slips should be retained by a banker and not be given up to a customer along with paid cheques.

The paying-in slips used by depositors are called " application forms."