Preparing a Deposit

How do I prepare a deposit?

  1. 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
  2. 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)
  3. 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
  4. 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.
  5. 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.
  6. 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

  1. 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
  2. Place batched deposit and coins (up to $10.00 in coin) in the bag
  3. 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.
  4. Seal the bag by removing perforated strip
  5. Cut bag number from perforated strip and file
    • Many users tape the bag number to their yellow copy of their deposit slip.