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A counter deposit is made using a blank deposit slip furnished by the bank - the depositor has to write in their own name and account number. A deposit is typically made with a pre-printed deposit slip that the depositor brings to the bank with them.

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How does counter credit differ from a deposit?

A counter credit is a general term for an addition to your account. For example if you had a problem with a fee and visited your bank branch they may issue a counter credit to refund the fee into your account. A deposit could also be handled as a counter credit depending on the bank and if you are splitting the deposit between multiple accounts.


What is the difference between a refundable and non-refundable deposit?

A refundable deposit can be returned to you if you meet certain conditions, while a non-refundable deposit cannot be returned to you under any circumstances.


Difference between time deposit and demand deposit?

Demand Deposit It is type of an account from which deposited funds can be withdrawn immediately at any time without any notice to the depository institution. Time Deposit It is type of deposit which is in contrast to demand deposit and funds are not available immediately .These are also known as term deposits .


What is the difference between a utility deposit and a service initiation fee?

deposits are refundable and fees are not


What is difference between prepaid expenses and deposits?

There isn't much of a difference between a prepaid expense and a deposit. Both terms are monies that are paid in advance to pay for something. With a prepaid expense, the money pays usually for a bill or utility. A deposit on the other hand, is sometimes given back after the obligation is paid. If it is not paid, the deposit is kept as payment.

Related Questions

What is the difference between a deposit and a counter credit?

Deposit is teller friendly, efficient and accurate Counter credit is more work for teller, mistake possible


How does counter credit differ from a deposit?

A counter credit is a general term for an addition to your account. For example if you had a problem with a fee and visited your bank branch they may issue a counter credit to refund the fee into your account. A deposit could also be handled as a counter credit depending on the bank and if you are splitting the deposit between multiple accounts.


What is the difference between deposit and withdrawal?

deposit: to put inwithdrawal: to take out


What is difference between decade counter and binary counter?

a counter is a counter which counts the data and the decade counter is the counts the decade ones


Difference between timer and counter?

The difference between a timer and a counter is that a timer can be set to record different time intervals. As were a counter only records an overall length of time.


What does counter credit mean?

Counter credit means a person went into a bank and made a deposit with the teller. Sometimes this term will show up on your bank statement.


What is the difference between timer and counter?

A counter counts up, a timer couts down.


Difference in deposit and remit?

I think it's all how you use it in a sentence; example, "I made a deposit at the bank" or "you can remit your deposit to the bank". I could be wrong but that's my understanding.


What bank uses routing 560210039?

What US Bank uses 560210039 routing number on counter deposit slips?


What is the difference between a cross offer and counter offer?

the difference between offer and counteroffer


What is the difference between a refundable and non-refundable deposit?

A refundable deposit can be returned to you if you meet certain conditions, while a non-refundable deposit cannot be returned to you under any circumstances.


What is the difference between Russian counter intelligence and US counter intelligence?

the difference is that one works around the problem at hand the other works around the solution presented.