A "deposit" is the right to receive money from a bank. Or it is the obligation of a bank to pay money. Deposit Books And Duplicate Slips. - When a customer opens an account with a bank he is given a deposit book, known also as a "pass book" or "bank book." Every time he makes a deposit (by putting in cash or discounting or in any other way) the total is entered in the pass book. The pass book is the depositor's evidence of deposit, and is in most banks not "balanced," a statement of the account being rendered at regular intervals instead. In a savings bank the book contains the bank's account with the depositor, has debit and credit sides, and withdrawals are entered as well as deposits.