Managing Your Money

1. Managing Your Money Identifying the Parts of a Check

2. Parts of a Check • A check is paper issued by a bank that allows the account holder to draw money from her account for payment to others or for personal use. The account holder fills in payment information and signs the check. • The components of a check include information printed directly on the check by the check printing company as well as information typed, printed or written by the drawer.

3. Parts of a Check Your information: Your full name and address is usually printed at the top left, and may contain your phone number.

4. Parts of a Check Date: Preferably today’s date. Banks usually charge a fee for holding them, while some checks are not honored after 6-9 months.

5. Parts of a Check Check Number: Usually a 3-4 digit number for easy identification.

6. Parts of a Check Payee: The recipient individual/company

7. Parts of a Check Numeric Amount: Amount of dollars and cents paid notated numerically

8. Parts of a Check Written Amount: Spelled-out amount of dollars and cents paid

9. Parts of a Check Bank Information: Your bank’s name and branch, address, and contact information.

10. Parts of a Check Memo: A quick comment or remark, like “rent.”

11. Parts of a Check Signature: Your signature. Your bank has a copy of this on file in case of check fraud.

12. Parts of a Check Routing Transit Number: A 9 digit number used to determine where to route your check.

13. Parts of a Check Account Number: Length varies depending on bank.

14. Parts of a Check Check Number: Usually a 3-4 digit number for easy identification.

15. How to Write a Check • 1. Now that you are able to identify the parts of a check, it is time to learn how to write a check. Start by writing in the date and payee

16. How to Write a Check • 2. Next, you write the amount of your payment in numeric form.

17. How to Write a Check • 3. After, you write out the amount of your payment using words instead of numerals. To be extra careful, you can also draw a line through any excess space in the small box with your payment amount.

18. How to Write a Check • 4. Now you sign your check, and you can write a memo if you like.

19. Managing Your Money Identifying the Parts of a Check What’s Next? Successfully identifying the parts of a check and writing checks. Move on to the sample example of check writing.