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Checking Accounts and Checks

Checking Accounts and Checks. What type of checking accounts do they offer? No minimum or minimum balance What are their interest rates? Checking, Savings, Loans What are the fees for each account?. How do you choose a financial institution?. Checking Accounts and Checks.

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Checking Accounts and Checks

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  1. Checking Accounts and Checks • What type of checking accounts do they offer? • No minimum or minimum balance • What are their interest rates? • Checking, Savings, Loans • What are the fees for each account? How do you choose a financial institution?

  2. Checking Accounts and Checks • How does their overdraft protection work and what are the fees for that? • Are there any usage limits and what are the fees for going over the limit? • What are the insufficient funds or NSF fees? How do you choose a financial institution?

  3. Amount in words Amount in Numbers Who check is written to Check Number Dateline Personal Info Name Address 1234 2/28/2013 Pay to the Order of Wal-Mart $58.76 DOLLARS Fifty eight and76/100 Groceries John Q Public 1234567 0001234567 Routing number Account Number Signature Line What you are buying

  4. Endorsing a check • Cash it – Just sign it • Deposit it – Just sign it or write, ”For Deposit Only” • Sign it over to another Party Pay to the order of Kania Davis Noel McKoy Endorse X Here Do Not Write Below This Line

  5. Deposit Slips CASH List Checks Separately Sign if Less Cash Received Sub-Total Less Cash Received Total

  6. Deposit Slips Example 1: $38.75 in cash and Check # 1473 $42.25 38 75 CASH List Checks Separately 42 25 1473 Sign if Less Cash Received Sub-Total 81 00 Less Cash Received 0 00 Total 81 00

  7. Deposit Slips Example # 2: Ck # 1777 $25.00 and Ck # 1473 $175.00 CASH List Checks Separately 1777 25 00 1473 175 00 Sign if Less Cash Received Sub-Total 00 200 Less Cash Received 0 00 Total 200 00

  8. Deposit Slips Example # 3: Ck # 1425 $50.00, Ck # 1837 $225.00, and Ck # 19876 $75 Also, ask the teller for $50 cash back. CASH List Checks Separately 1425 50 00 1837 225 00 19876 75 00 Sign if Less Cash Received Sub-Total 350 00 Less Cash Received 50 00 Total 300 00

  9. Checkbook Register Balance Brought Forward 225 43 Check # Date CHECK ISSUED TO TO Wal-Mart Amount of Ck or Deposit 58 76 1234 2/28 Balance 166 FOR Groceries 67 Amount of Ck or Deposit TO Deposit 81 00 2/28 FOR Mowing, baby-sitting Balance 247 67 Deposit Amount of Ck or Deposit 200 TO 00 3/2 FOR Birthday, allowance Balance 447 67 TO Deposit Amount of Ck or Deposit 300 00 3/15 FOR Mowing, baby-sitting, paycheck Balance 747 67 TO Hollister Amount of Ck or Deposit 175 37 3/16 FOR Balance 572 30 Clothes

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