Make a Bank Deposit
Preparing a Bank Deposit
The person making the bank deposit should be someone other than the person balancing the day’s work.
- Enter date on the bank deposit slip.
- Count your currency, listing the totals by denomination on the calculator. Then, list the amount on the bank deposit slip.
- Run a calculator tape on all the checks and then place a paperclip around the checks. List the total on the first line for checks.
- Run a calculator tape of all totals and enter the total on the bottom line and again where it indicates “Please Enter Total”.
- Enter total number of checks, amount of cash (any amount is considered “1” item), and then enter complete number of items in the “total items” box.
- The bank deposit slip is a two-part form. The original will go in the bank deposit bag with the currency, coin and checks. The duplicate is retained by your department with the original balancing tapes run by the person balancing the day’s work.
Preparing the Bank Deposit Bag
- Place all currency, coin, checks and original bank deposit slip in the deposit bag.
- All manufacturer’s bags are slightly different. You must fill out the “To”, “From”, “Amount” and “Date” spaces. (You might want to make labels for the “To” and “From” spaces.) On bags only containing checks, please write on the bag with a marker “CHECKS ONLY”. When depositing checks with cash or when depositing cash only, please write on the bag “MIXED”.
- The following address should be used on the bags
To: Chase Bank
30 S. Clark
Chicago, IL 60603
From: Your Department Name
NORTHWESTERN UNIVERSITY
Your department address
Evanston, IL 60208
- If you have a check scanner, there is no need to create a bagged deposit for check-only deposits. However, a bagged deposit will be needed for cash.
Where to Make Deposits
For those departments not receiving a direct armored car pickup, a department is to make an in person deposit in the lobby of in Evanston or the mezzanine level of in Chicago during our regularly schedule window hours.
How to Transport Deposits
- Transporting funds to Depository Services must always be a high priority and vigilance is recommended.
- Deposits containing currency may never be sent via campus mail.
For deposits with perceived additional risk (large deposit amount, late hour, etc.)
- A department may contact the Depository Service Office to arrange a special pick-up by the designated armored car courier at the depositing department’s expense.
- Currency deposits may be hand-carried by a departmental representative, or in special circumstances, University Police may be scheduled to assist. The transport schedule must be coordinated between the department and Depository Services hours.