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Counter Deposit

Counter Deposit Meaning:
In deposit terminology, the term Counter Deposit refers to the most direct way to make a deposit at a bank or financial institution. A Counter Deposit is generally made in person by the account holder over the banks counter and is received by a member of the banks staff.

Counter Deposit Example:
For example, to make a Counter Deposit into their account, a person will typically go in person to the nearest branch of the bank or financial institution where they have an account. They will then usually identify the particulars of their account by filling out a Counter Deposit slip. Some banks require some form of identification in order to verify the person making the deposit is the account holder, especially if they are not personally known to the bank teller. Nevertheless, some banks will allow another person besides the account holder to make a Counter Deposit as long as a proper slip is filled out with the particulars of the account.
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