How do I prepare a deposit?
- Total the Currency
- Count the currency
- Bundle the currency
- All currency should be face up, and secured with a rubber band. No staples or paperclips.
- Do not have more than 500 bills in each rubber band bundle.
- Only one denomination per bundle (i.e. only 1s, 5s, 10s, etc.)
- Indicate total amount of currency on the "currency" line on the deposit slip
- Total the Coin
- Count the coin
- Place it in an envelope and seal it
- Indicate total amount of coin on the "coin" line on the deposit slip
- If coin totals more than $10.00, a separate coin-only deposit must be prepared (see Coin-Only Deposit instructions below)
- Total the Checks
- Be sure the checks are properly endorsed (This should be done immediately upon receipt of check).
- Bundle the checks
- Checks should all be face up, in the same direction.
- Bundles should contain no more than 250 checks.
- Bundles should be secured with a rubber band. No staples or paperclips.
- Run two tapes per bundle running a tape on the checks each time (please do not run a second tape from first tape)
- Verify that the tapes equal.
- Keep one tape for your records.
- Include the other tape with the corresponding check bundle.
- Run two grand-total tapes of the totals of each check bundle
- Verify that the tapes equal.
- Keep one tape for your records.
- Put check bundles in order of taping and place the other grand-total check tape on top, wrap one rubber band around the batch.
- Indicate grand-total amount of checks on the "check ID" line on the deposit slip
- Total Deposit
- Total the currency, coin and check amounts.
- Write this total in both total boxes on the deposit slip.
- Be sure this total matches your iPayment Payfile total.
- Batching Deposit
- Place currency and original bank deposit slip (white copy) on top of banded checks.
- Rubber band the entire packet again with one rubber band.
- The other two slips (pink and yellow copies) should be retained for the department's records.
- Coin-Only Deposit (More than $10.00 in coin)
- Count the coin
- Mixed coin deposits are okay.
- Do not wrap the coin.
- Indicate amount of coin on the "coin" line on the deposit slip.
- Write this total in both total boxes on the deposit slip.
- Be sure this total plus your other deposit slip total matches your iPayment Payfile total.
Bagging the Deposit
- On the plastic deposit bag, fill out the following:
- To: Wells Fargo
- From: Department name
- Amount: Total Deposit
- Write the date from the deposit slip on the bag
- Place batched deposit and coins (up to $10.00 in coin) in the bag
- Place coin-only deposit (more than $10.00) in an 'A' size bag or smaller
- All deposits must weigh less than 50 lbs and using the 'A' size bag or smaller will ensure that the coin-only deposit will meet that requirement.
- Seal the bag by removing perforated strip
- Cut bag number from perforated strip and file
- Many users tape the bag number to their yellow copy of their deposit slip.