DEFINITION of Proof Of Deposit - POD
Proof Of Deposit
(POD) is the verification that the amount on a check
that is deposited is correct. When processing checks, the proof of deposit is done manually through comparing the dollar
amount written on the check to the amount on the deposit slip. In case of mortgages the borrower
must prove that he or she has enough money
for the transaction, therefore the borrower must have a proof of deposit for the mortgage.