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Banking Theory and Practice
Notes 6.2 Welcome Kit
On opening a bank account, the different services offered to the customers are:
6.2.1 Pay-in-Slip
Pay-in-slips, also referred to as personalized invoices are a form used for paying money into a
bank account with the same bank. Each pay-in-slip has a cheque stub which is returned to the
depositor duly signed and sealed by the bank official. This source document, i.e. the cheque stub,
relates to bank transactions and provides details regarding account number, date, amount
deposited and name of the account holder.
Figure 6.1: Format of an SBI Pay-in-Slip
Source: www.docstoc.com
6.2.2 Cheque Book
Cheque is an official instrument in writing, containing an unconditional order, addressed to a
banker, signed by the person who has deposited money with the banker, asking him to pay on
demand a certain amount of money only to or to the order of certain person or to the bearer of
instrument.
A cheque book contains a number of blank cheques printed with the name and account details of
the account holder. They are a type of bill of exchange and were developed as a way to make
payments without the need to carry large amounts of cash.
6.2.3 Pass Book
Pass Book is a book issued by Bank to an account holder. It is a copy of the account of the
customer in the books of bank. The bank keeps the customer informed of the entries made in his
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