THE DEPOSIT

FUNCTION
ENTICING DEPOSITORS
● Capital for buildings and fixtures
● Insurance coverage
● Developments in communications and technology
○ E-banking
○ ATMs - Automated Tellering Machines
● Convenience
○ Pay bills, transfer funds, inquire balances, reorder
checks through phones, internet, ATMs
WHAT ARE DEPOSITS?
● To a bank, deposits are money borrowed and makes the
bank a debtor.
○ Depositor, the creditor, can claim deposits at his
pleasure.
○ Bank can lend deposits while depositor does not claim
these yet and earn interest on loans granted.
WHAT ARE DEPOSITS?
● New Central Bank Law of 2000 (R.A. 7653, Section 58)
○ “Demand deposits” - all those liabilities of the Bangko
Sentral and of other banks which are denominated in
the Philippine Currency and are subject to payment in
legal tender upon demand by the presentation of
checks.
 ● Method of Withdrawal
○ Demand Deposits
TYPES OF ○ Time Deposits
DEPOSITS ● Way They Are Created
○ Primary (direct)
Deposits
○ Derivative Deposits
METHOD OF WITHDRAWAL
● DEMAND DEPOSITS
○ Withdrawn upon presentation of checks during banking
hours. (not banking hours, claims may be made through
checking account)
○ Can’t be held for a long period of time & does not
receive interest in modern times.
METHOD OF WITHDRAWAL
● TIME DEPOSITS
○ Withdrawn after a certain period of time or at a
designated maturity.
○ Build up fund for homes, shopping, other future
consumption purposes.
1. Time Certificate of Deposit
2. Special Time Deposits
3. Savings Deposits
METHOD OF WITHDRAWAL
1. Time Certificate of Deposit
- Evidenced by a certificate
- Deposit only withdrawn at maturity or
after due notice (usually 30 days)
upon presentation and surrender of
instrument.
- If withdrawn before maturity, interest
accruing on deposit is forfeited.
METHOD OF WITHDRAWAL
2. Special Time Deposits
- Evidenced by written contract
- Neither all nor part may be withdrawn before
maturity date or at least upon due notice of 30
days
METHOD OF WITHDRAWAL
3. Savings Deposits
- Evidenced by a passbook
- Can be withdrawn only upon due notice of at least 30 days
or depending upon the individual’s bank policy.
- Modern banking: deposits may be withdrawn on demand
provided bank is in a position to meet the demand of
depositor.
METHOD OF WITHDRAWAL
● All time deposits receive interest at varying
rates.
● BSP sets minimum and maximum percentages
which banks can offer to customers.
WAY DEPOSIT IS CREATED
● DIRECT OR PRIMARY DEPOSITS
- “Over the counter”, when depositor himself brings
money/checks/near cash items to the bank and hands
them to the teller.
- Depositor may have a representative.
- E-bankers: through ATMs (should be personally be
registered in bank)
WAY DEPOSIT IS CREATED
● DERIVATIVE DEPOSITS
- From proceeds of loans; bank places the loan proceeds
under a current account from which he can draw checks
eventually
- Multiple expansion of credit
- Increase volume of money = Represent new money
 KINDS OF 1. Individual deposits or
business accounts
DEPOSITORS 2. Government deposits
3. Interbank deposits
MOTIVES OF 1.
2.
For safety
For convenience
DEPOSITORS 3. For earnings or income
4. For accommodation
Significance of Deposits to a Bank
● More deposits -> more available loanable funds (can earn
interest)
● More bank loans -> increase in stockholder’s confidence
● Increase in stockholder’s earnings (dividends) -> increase
in stockholder’s investments
● Increase in investments -> improvement of banking
facilities and services
DEPOSIT FUNCTION
Contribute to the satisfaction of the customers-depositors
Efficiency of the performance of tellers
Process of which banks operate receiving and paying

BANKS = Lifeblood
PUBLIC = Helps them save
RECEIVING TELLER
The Receiving Teller receives
and verifies deposit items and
deposit slips, gives proper
receipts for the deposit made,
distributes the item deposited,
and finally checks and proves
the day’s work.
Responsibilities of the Teller in regard
with the currency:
1. Errors in counting the money deposited
- The teller needs to double check the actual amount in
order to verify what was written in the deposit slip.
2. Presence of Mutilated or Counterfeit money

- If the teller fails to detect the mutilated or counterfeit

money the bank may incur losses due to negligence.
Responsibilities of the Teller in regard
with the credit instrument:
1. Post-dated Checks
- Checks which are dated
after the date of deposit.
2. Stale Checks
- Checks which are dated
very early (about 1
month) before the date
of deposit.
3. Material Alterations
- Any misinformation in
the deposit slips.
4. Wrongly Endorsed
Instrument
- Ex: Jose Cruz is not the
same with Jose C. Cruz
Responsibilities of the teller in regard with
both the currency and credit instrument:
1. Carelessness in Adding 2. Carelessness in
Deposit Slips Designating the
- The teller must be Accounts in Credit
correct with the tally of - The teller must give
the deposits made in the credit to the right
proof sheet. depositor.
Deposit Slips and Deposit items
1. Deposit slips – refers to forms used by the depositor when
he or she makes a deposit .

*Receiving teller- sorts the slips according to the depositor’s

ledgers. After which the sorted slips will be sent to the
corresponding bookkeepers.
Deposit Slips and Deposit items
2. Deposit Items - refers to cash and credit instruments. This may also
refer to other items which are distributed as follows:
a. Currency sent to cashier
b. Checks drawn from the bank where the teller works, the checks are then
sent to the bookkeeper.
c. Checks drawn from other banks are sent to transit dept. for proper
disposal. (Example: the clearing house items are sorted then sent to the
clearing house.)
d. Drafts and other items acted upon are sent to departments. (Example:
foreign, discount and loan.)
Deposit Slips and Deposit items
Accounting and bookkeeping procedures:
Deposit Slips – credit entries to depositor’s subsidiary ledger

Deposit Liabilities – total of all of these. Found in balance sheet

Deposit Items – debit entries, affects cash and other cash items account.

Proof Sheets - helps the receiving teller in proving the day’s work.
PAYING TELLER
- Mentioned as first teller
- Person who pays out the cash in
exchange for checks or other
instruments
- Has a greater degree of
responsibility than a receiving
teller
- Opposite of receiving teller
Performance of PAYING TELLER
1. Receive necessary amount of cash from the cashier
2. When the encashment is presented by the customer, he has to try to avoid any
liabilities on the bank side caused by his negligence (by checking the
check/item of encashment carefully)
3. If everything is ok, render money and stamps the items of encashment
4. Prove that all his work is in order by cross checking his cash left to his tally
sheet
5. He is also in charge of keeping and safeguarding the supply of cash & the
checks of customers, as well as distributing the checks etc. to the specific bank
departments
What PAYING TELLERS should look at?
1. The Date of the Check
2. Wrong endorsement
3. Material alteration
4. Forgery
5. Crossed check
6. Stop Payment Order
7. Insufficient funds
8. Erroneous Payment
9. Supply of Cash
THE TELLER
● The role of the Teller is to be welcoming, build rapport, and
provide outstanding service to the Bank clients while
performing account transactions.
● The Teller is responsible for performing accurate account
transactions and functions which mirror the sales process
(Opportunity Management, Needs Assessment,
Present/Pitch Fulfillment, and Follow Up) in their daily work
to create a positive client experience.
Examples of Other Tellers
● HEAD TELLER - Aka Supervisor or Teller Manager. Supervises and
coordinates activities of workers engaged in receiving and paying out money
and keeping records of transactions. Performs a variety of teller and leadership
duties involving a minimum staff of three tellers and clerks. Incumbents work
with independence in coordinating and assigning work and resolving problems
for subordinate tellers.
● MAIL TELLER – He will take care of deposits by mail. He, therefore, also goes
through the operations of a receiving teller. Or he is assigned to do nothing
but change big bills into smaller dominations or vice versa. Such teller also
does the work sub-tellers are assigned, therefore, either to the receiving teller
or to the paying teller.
Principal Activities & Functions of
Tellers
● Accept customer transactions Access computer, accept customer deposit,
receipt transaction on computer and verify currency; cash checks, savings
withdrawals and make cash advances on M/C - Visa with proper identification;
accept loan payments and safe deposit box payments and issue Cashier’s
Checks; redemption of savings bonds; scanning all transactions as required.
● Cash Drawer Count and verify all currency and coin and record totals on the
computer. Secure currency and coin. Maintain limit set by NBT for cash drawer.
Use combination coin vault and sub vaults for access to coin and currency.
Principal Activities & Functions of
Tellers
● Officer Approvals Obtain Officer approval on large items cashed or deposited
as per policy. When necessary, present item to Officer for approval. Take
actions based upon instructions from Officer.
● Filling out documents Verify information from customer and type document as
needed. Document types are: Cashier Checks, bond redemption, cash
advance for M/C - Visa, account analysis forms, customer deposit slips, savings
withdrawals and deposits slips, Work with Person information on computer for
CTR completion and hold notices for funds availability.
● Servicing coin customers Operate the coin sorter and coin wrapper. Lift and
carry large bags of coin. Place coin in vault or in the coin machines.
Principal Activities & Functions of
Tellers
● F. Assist other tellers and supervisors as needed.
● G. Other duties as needed
○ 1. Open night deposit vault (dual control)
○ 2. Open drive in facility according to procedure
○ 3. Open and Balance ATM depository vault (dual control)
○ 4. Close drive-in according to procedure
○ 5. Maintain control over teller supplies (record and keep supply cabinet
stocked)
○ 6. Record mail deposits and night deposits under dual control
○ 7. Work all areas of Teller Department as needed for Saturday schedule,
absences or cross training
OPENING BANK
ACCOUNTS
CHECKING ACCOUNT
CHECKING ACCOUNT
SAVINGS ACCOUNT
● Similar to checking account
● Passbook is provided (instead of checkbook) where transactions are recorded
● Deposit receipt or validation slip is unnecessary
● The depositor must personally withdraw or name his representative and
present the passbook
● Withdrawal slip is required to make withdrawals

For authorized withdrawals, the depositor fills out a withdrawal slip and names a
representative. The authorized signatures of the depositor and the representative
are examined before the issuance of money.
SAVINGS ACCOUNT
Interest up Initial Balance Fine Print
to Deposit to earn
Interest
SAVINGS ACCOUNT WITH ATM
● Similar with savings account
● ATM card is provided instead of a passbook
● ATM card is used for deposit, withdrawal, account balance inquiry, and bills
payment
● Depositor’s account is accessible 24/7 through the bank’s ATMs
● If the bank is a member of banks consortium like BancNet or Megalink, the
depositor can access his account in any ATMs of the consortium
SAVINGS ACCOUNT WITH ATM
Interest up Initial Balance Fine Print
to Deposit to earn
Interest
HYBRID ACCOUNTS
Current and Savings Account with ATM
● Withdrawals can be either through checks or ATM
Current and Savings Account
1. Partnerships
● Must present articles of
co-partnership and indicate
the person authorized to sign
checks or withdraw deposits
2. Corporations
● Must present articles incorporation
and by-laws together with the
board resolution, and indicate the
person authorized to sign checks
and withdrawal slips
HYBRID ACCOUNTS
Current and Savings Account with ATM
Interest up Initial Balance to Fine Print
to Deposit earn
Interest
HYBRID ACCOUNTS
Current and Savings Account

Interest up Initial Balance Fine Print

to Deposit to earn
Interest
OTHER HYBRID ACCOUNTS
Interest Initial Balance Fine Print
Deposit to earn
up to
Interest
OPENING BANK ACCOUNTS
Accounts under joint names

A joint account would appear either as:

1. Jose and Maria Cruz

● In this case, both parties must sign the check for current accounts and
withdrawal slip for savings account

2. Jose and/or Maria Cruz

● Either of the depositors may sign the check or withdrawal slip

Accounts under the name of a minor

● The guardian signs for and in behalf of the minor

OPENING BANK ACCOUNTS
● Anybody can make a deposit in a current or savings account
● Anyone can present a check against a current account of an individual,
partnership or corporation

A regular depositor would now make his transaction with the teller.

Teller’s function

Advise on matters where depositors need help and guidance such as:

● Filling out deposit slips

● Exchanging foreign currency and;
● Facilitating banking transactions
PH LOCAL
BANKS &
DEPOSIT
PRODUCTS
PNB BANK DEPOSIT PRODUCTS
PESO SAVINGS – give you options to pay your bills or save money

a. Supper Teller ATM – Savings account, PIN-based ATM card.

b. Debit MasterCard – PIN-based ATM card which provides 24/7
banking convenience using various channels.
c. Tap MasterCard – Innovative, secure and convenient method of
purchasing items by simply tapping the ATM card at any PayPass
enabled machine.
d. Passbook Savings – Interest bearing deposit account wherein
transactions are recorded in a passbook
PNB BANK DEPOSIT PRODUCTS
e. SSS Pensioners Account
f. Direct Deposit Program
g. Prime Savings Program
h. Safe Deposit
METROBANK DEPOSIT PRODUCTS
Savings Accounts:
Passbook Savings Account
Need to have something physical to hold on to while your money grows in your
account? Then a Passbook savings account is the right product for you.
Metrobank Debit/ATM Savings Account
Can’t stop by your bank branch but need to be able to access your funds from
anywhere 24/7? The Metrobank Debit/ATM Account comes with an ATM card that
allows you to conduct several transactions from a Metrobank automated teller
machine.
METROBANK DEPOSIT PRODUCTS
MetroDollar Savings Account
Save your dollars in a Metrodollar Savings Account and get the benefit of earning
interest in dollars too!
Other Foreign Currency Savings Account
Keep your hard-earned foreign currencies safe and earn interest in the same
currency.
Fun Savers Club
Exclusively for kids and teens under 18, Fun Savers Club is a special savings
account that is all about promoting good money sense among kids today.
METROBANK DEPOSIT PRODUCTS
Checking Accounts:
Regular Checking Account
A checking account is a safe, convenient, and worry-free way to deposit funds,
settle your bills or loan installment payments. It also lets you keep better track of
your payments through a monthly statement delivered at your doorstep.
Account One
The ultimate in interest-bearing checking accounts, Account One is a hassle-free,
all-in-one product. It comes with a passbook and an ATM card that lets you access
over 1,700 automated teller machines and over 7,400 ATMs within the Bancnet,
Expressnet , and Megalink networks.
METROBANK DEPOSIT PRODUCTS
MetroChecking Extra
A MetroChecking Extra is the best value for money checking account because it
earns interest just like a regular savings account.

Time Deposits:
Time Deposit (TD)
You don’t have to invest huge amounts of money when starting to save for the
future. Our time deposits allow you to slowly build your savings as it earns higher
interest.
METROBANK DEPOSIT PRODUCTS
MetroDollar Time Deposit
Do you have more dollars than you need? Or do you receive dollars from relatives
abroad? Dollar time deposits allow you to keep your greenbacks while earning
higher interest. So put those underutilized dollars to better use and open a
MetroDollar Time Deposit today!
Foreign Currency Time Deposit
If you're a world traveller or perhaps frequently buy furniture, jewelry, or works of
art from abroad, then our foreign currency time deposits are just the thing to make
your money grow while you wait for your next jetset. We give you the freedom to
choose from several foreign currencies when opening a time deposit account, and
give you a higher yield on your deposit.
BDO DEPOSIT PRODUCTS and Related
Services
Deposits Deposit-Related Services

- Checking Accounts (HK$, - Manager’s Checks

US$)
- Savings Accounts (HK$, US$)
- Time Deposits (HK$, US$,
AUD, Euro, and other foreign
currencies upon inquiry)
- Customized Checks
- Demand Draft
- Telegraphic Transfer
BPI DEPOSIT PRODUCTS
SAVINGS ● Pamana Savings Account with FREE Life
Insurance
● Advanced Savings
○ earn interest on your savings + FREE
○ account that allows you to enjoy the
Life Insurance worth 3x of account
interest of your deposit ahead of
balance
time.
● Pamana Padala
● Easy Saver
○ specially designed savings account
○ It has no maintaining balance with a
for Overseas Filipino Remitters
minimal fee for withdrawal
● Jumpstart
transactions that will encourage you
○ specially designed for the youth,
to save more.
ages 10 to 17 years old
● Express Teller
● Maxi-Saver
○ 24-hour superior electronic banking
convenience.
● Save-Up
BPI DEPOSIT PRODUCTS
TIME DEPOSIT
CHECKING
Peso Auto Renew Time Deposit The Peso Auto Renew Time
Deposit allows placements to be renewed automatically for a fixed
Express Teller Checking account with an ATM card for
yield higher than a regular savings account.
flexibility in account management through BPI 24/7 channels.
Peso Express Time Deposit Earn on parked funds through a
Ka-Negosyo Affordable and interest-earning, specially short-term peso time deposit of less than 30 days. (Available to
designed for entrepreneurs. Corporate clients.)

Maxi-One Simplify financial account management with Foreign Currency Time Deposit Available in US Dollar, Euro,

Maxi-One – the superior all-in-one account that combines the
features of savings and checking.
Business Checking A practical way to monitor business
transactions conveniently via a checkbook and monthly
statement of account.
Japanese Yen, Australian Dollar, Canadian Dollar, Swiss Franc,
British Pound, Chinese Yuan and Hongkong Dollar through the
Foreign Currency Time Deposit product to grow the net worth of
their funds.
Plan Ahead Time Deposit (Available in BFB) A five-year time
deposit with a fixed interest rate allowing protection from volatile
market rates. Upon completion of term, the interest earnings
becomes tax-free!
UNION BANK DEPOSIT PRODUCT
SAVINGS ACCOUNT CHECKING ACCOUNT

- Transact at Megalink, Bancnet, ● REGULAR

and Expressnet ATMs nationwide
and Visa or Plus ATMs worldwide
- Access money through online
banking
- Interest rate 0.1 %
- Transact at 192 UnionBank
branches nationwide
- E-Wallet
- Receive monthly account
statements
UNION BANK DEPOSIT PRODUCT
CHECKING ACCOUNT ● PREMIUM
- Withdraw twice from account
● POWER within a month
- Issue checks and make unlimited - Higher interest than savings
payments account
- Earn higher interest than a
- Easy access to funds by Writing
regular savings account ( Interest checks
depends on the amount you put)
- E-Wallet
- Avail of the Transaction Diary to
- Receive monthly statements
help monitor account movement
- Avail of the Transaction Diary to
monitor account movement
-
UNION BANK DEPOSIT PRODUCT
TIME DEPOSIT
● PESO TIME DEPOSIT
- Choose from varied placement
terms of 30 to 360 days
- Open an account for a minimum
amount of P50,000
● PESO OPTIMIZER
- Choose from flexible placement
terms of 2, 3, 4, or 5 years + 1 day
- interest earnings are credited
monthly to other UnionBank
account
● UNION BANK HI FIVE
- Invest money for a minimum
placement of P50,000
- tax-free earnings (individuals
only)
- interest earnings are
compounded annually
QUIZ
 WHAT IS THE
QUIZ MEANING OF ATM?
 T or F:
IN DEPOSITING, THE
BANK SERVES AS
QUIZ THE DEBTOR AND
THE DEPOSITOR
SERVES AS THE
CREDITOR.
 IT IS A KIND OF DEPOSIT
UNDER METHOD OF
WITHDRAWAL WHICH
CAN ONLY BE
QUIZ WITHDRAWN AFTER A
CERTAIN PERIOD OF
TIME OR AT A
DESIGNATED
MATURITY.
 T or F:
ALL TIME DEPOSITS
QUIZ RECEIVE INTEREST
AT VARYING RATES.
 NAME 2 TYPES OF
QUIZ TIME DEPOSITS.
 BANKS MAY ALSO
DEPOSIT MONEY WITH
OTHER BANKS ON A
RECIPROCAL BASIS.
WHAT DO YOU CALL
QUIZ THIS?

CLUE: I _ _ _ _ _ _ _ _

D_______
 CHECKS THAT ARE
DATED VERY MUCH
QUIZ EARLIER, ABOUT A
MONTH, FROM THE
DATE OF DEPOSIT.
 HOW ARE THE ENTRIES
OF DEPOSIT SLIPS
QUIZ DIFFERENT FROM
ENTRIES OF DEPOSIT
ITEMS?
 _____ HELPS IN
QUIZ PROVIDING THE DAY’S
WORK OF THE
RECEIVING TELLER
 HOW DOES
RECEIVING TELLER
QUIZ SORT DEPOSIT
SLIPS?
 T or F:

THE PAYING TELLER

HAS AN EQUAL
QUIZ DEGREE OF
RESPONSIBILITY AS
COMPARED TO THE
RECEIVING TELLER
 T or F:
THE MAIN DIFFERENCE
BETWEEN THE PAYING
TELLER AND THE
RECEIVING TELLER IS
QUIZ THAT THE PAYING
TELLER CAN RECEIVE
DEPOSITS WHILE THE
RECEIVING TELLER
ENCASHES CHECKS.
 T or F:
QUIZ FIRST TELLER IS KNOWN
AS THE PAYING TELLER.
 This describes currency
which is damaged to the
QUIZ point where it is difficult
to determine the value of
the currency.
 ______ is a type of check
QUIZ which is dated after the
date of the deposit.