CHECKING ACCOUNTS. published by AAA Fair Credit Foundation
|
|
- Angelina Pierce
- 8 years ago
- Views:
Transcription
1 CHECKING ACCOUNTS published by AAA Fair Credit Foundation
2 Checking Accounts 1. What is a checking account? Opening a checking account ATM Cards How to write a check How do I keep track of what I spend? When I get my bank statement How to reconcile (balance) your check book Bounced checks & the District Attorney s Office
3 What is a Checking Account? 1 A checking account is a type of bank account that allows you to transfer money from that account to other locations and pay bills that you owe, for example: rent, auto payment etc. Each bank/credit union offers variations of checking accounts and it pays to do your homework with different banks/ credit unions before you decide where to open your checking account. A checking account is insured up to $100,000 by the federal government. The insurance is called FDIC, and you should verify that your bank and/or credit union has this coverage. With this insurance if the money in your checking account is stolen, or lost by the financial institution managing the account, the Federal Government will replace up to $100,000 of this money. You can open a checking account with any bank/credit union but you should open a checking account that suits your needs. The general types of checking accounts are: 1 Basic checking 2 Free checking 3 Interest checking 4 NOW checking 5 Lifeline checking 6 No-frills checking 7 Credit Union share draft accounts W H AT I S I T? 02
4 Opening a Checking Account 2 When you decide which bank or credit union to open your checking account with, they will run a credit check to see what your credit history is and will also verify your banking history, if any, through Chexsystem. This system shows them if you have a history of bounced checks or if you owe any outstanding money to another bank or credit union. To open an account you will need two pieces of identification, for example: Valid state I.D or Drivers License Credit card Government I.D Depending on the bank, you will need to deposit a minimum amount of money into the new checking account. This is usually $100, but may vary depending upon the bank s requirements. The bank will then issue a checkbook to you that identifies your account number and also contains your name, address, and phone number. This checkbook can now be used in several ways: 1 Obtain cash at a store 2 Obtain cash at the bank 3 Pay for goods by writing a check 4 Pay bills (car payment, rent, utilities, etc) In addition to the checkbook, the bank may issue you an ATM card (see section 3). Each individual check is sequentially numbered and this allows you to keep track of the checks issued in either the checkbook log or from the duplicate copy. O P E N I N G A N A C C O U N T 03
5 ATM Cards 3 An ATM Card stands for Automated Teller Machine Card. The ATM card is NOT a credit card and does NOT build your credit. This card allows you to obtain cash and pay for goods, without having to write a check or visit the cashier at the bank. Each time you use an ATM card, the money is immediately debited from your checking account. You must track the money you spend, by keeping your receipts, EVERY time you use your ATM card. Pay to the order of DATE amount in numbers Your Name 1234 Somewhere St. Anytown, ST Pay to the Order of Ford Motors 03/17/2005 Date $ Two Hundred Dollars and Fifty Cents Dollars For Car Payment Your Signature figure 1 what is it for amount in words signature AT M C A R D S 04
6 How to Write a Check 4 There are 4 main things to remember when writing a check: 1 Always use a ballpoint pen, never use a pencil if you use pencil, information could be altered. 2 Never write post dated checks the check could be deposited before the date and you may not have the money in your account to cover it, or you may forget that you issued a post dated check and spend the funds that you had originally allowed. In both cases, the check will bounce (see section 8). 3 Never issue a blank check pretty obvious why you shouldn t anybody can fill information on the check. 4 Always record transactions in your checkbook log/register. O.K., so let s look at what information we need to put onto the check (see figure 1): Date Put the date that you are writing the check 03/17/2005. Pay to the order of Put in the name of the person/company that you are paying Ford Motors. Amount in words Write the amount of the payment in words Two hundred dollars and fifty cents. Amount in numbers Write the amount of the payment in numbers - $ What it is for Put on the check what the payment is for Car payment. Signature Don t forget to double check the above information and then sign your name. W R I T I N G C H E C K S 05
7 How Do I Keep Track of What I Spend? 5 Whether you write a check or use your ATM Card, you MUST record it in your check register. In addition, when you use your ATM Card, keep your receipts. Put the receipts with your check register, that way when you come to reconcile (balance) your checkbook, you have everything together. Your checkbook should come with a check register. This register allows you to track your spending and the amount of money in your checking account. Let s look at a typical check register (see figure 2): Check number Record here the check number that you issued Date Write the date you wrote the check 03/17/2005. Description Write what you wrote the check for Car payment Debit How much was the check for - $ Credit How much did you pay into the checking account for example your salary was paid in for $ Balance How much money is left in your checking account (see section 6). TRANS. TYPE/ CHECK NO. PAYMENT/ FEE DEPOSIT/ DATE DESCRIPTION OF TRANSACTION DEBIT (-) (IF ANY) CREDIT (+) $ 2, Deposit 1/6 Deposit from your employer Paycheck 2, /7 Ford Motors Car Payment 2, Ck.Card 1/9 Harry s Burger Barn Lunch with Dad 2, /11 Your City Utilities 2, ATM 1/12 Electronic City Birthday present for Bill 2, K E E P I N G T R A C K figure
8 When I Get My Bank Statement 6 B A N K S TAT E M E N T Every month you will receive a copy of your checking account bank statement. If you don t receive a bank statement, contact your bank immediately. This may be an indication of Identity Theft. Question: What should you do when you receive your bank statement? a. Put it to the side and forget about it until next month. b. Open it and verify that the figures match with your check register. Answer: b. Open it and verify that the figures match with your check register Bank statements can look complicated with all those different boxes with numbers in them Arrrgh! Just remember, they only reflect what account activity has occurred for that month and should match your records. After a few months they won t look half as bad. Ready to have a look at one? (see figure 3) The first bits of information are the bank s contact information, and also your personal information including your checking account number, so you don t want to put this information in the trash do you? Date of statement Details what period of time the statement covers 1/1/2005 through 1/31/2005. Description of transactions Describes what the transaction was for Deposit, debit, check #1017, ATM withdrawal, Monthly service fee, etc. Date of transactions Details the date of the transaction. Note: this may be different from your record, as this details the date the bank made the transaction. Amount of transaction How much the transaction was for - $ Beginning (or opening) balance Shows the beginning balance for that period - $2,250.50, for example. This balance will reduce or increase with each transaction until the ending balance. 07
9 Ending balance After all transactions have been processed, this is the ending balance for the account. Summary of statement Gives a summary of the account beginning balance, ending balance, total debits, total credits, etc. Checks paid Details all the checks that were processed for the period check #1017 $ So, how was that? Not too complicated was it? Account Statement January 1, 2005 January 31, 2005 page 1 of 3 YOUR BANK Thank you for banking with Your Bank. For assistance please call: YOUR BANK Account Summary ACCOUNT ACCOUNT NUMBER BALANCE LAST PERIOD BALANCE THIS PERIOD Regular Savings , , Regular Checking , , Total 6, , Transactions Regular Checking DEPOSITS AND INTEREST Date Description $ Amount 1/6 Deposit from your employer /23 Online transfer WITHDRAWLS CHECK Number Date Amount Number Date $ Amount / / / / Total Checks B A N K S TAT E M E N T WITHDRAWLS OTHER Type Date Description $ Amount Check Card 1/9 Harry s Burger Barn ATM withdrawl 1/12 Electronic City Check Card 1/17 Last Chance Service Station figure
10 How to Reconcile (balance) Your Check Book 7 R E C O N C I L I N G Now that you can read and decipher your checking account bank statement, the next step is to verify the information it contains matches what you have recorded in your check register and on receipts. It is foolish to just accept that the bank statement is accurate. Even banks make mistakes. Also, checks may not always process within the time period covered in the monthly statement, so you need to verify that all your hard earned money is accounted for right? So, how is that done? Well, it s called reconciling your checkbook, or in other terms, balancing your check register with the bank s statement. If you do this diligently every month, reconciling becomes really quick and easy to do. With your bank statement ready, get out all your receipts, ATM receipts, check book register and cancelled checks (if your bank sends them). Put all your receipts in order by date. This makes it easier to go through against your bank statement. Look at your bank statement and locate the first debit: Examples: Winn Dixie $73.50, match this with the receipt for Winn Dixie, does it match? If YES - place a check mark next to the amount on the bank statement and place another check mark on the receipt. Put the receipt to one side as completed. Check #1017, match this with your check register (and/or cancelled check), does it match? If YES place a check mark next to the amount on the bank statement and place another check mark on the check register (and/or cancelled check). Repeat this step for every debit and/or credit. If the amount on your check register or receipts does not match what is on your bank statement, even if it is only $1, you MUST investigate the reason why. 09
11 Look for bank services fees, NSF fees, charges, ATM withdrawal fees and automatic deductions (auto payment etc) on your statement, make sure to write these in your check register and deduct them from your balance. When you subtract all the debits and add all the credits from your starting balance, then your checkbook register ending balance should match your bank statement ending balance. If it doesn t then check all your figures again. Sample Reconciliation Worksheet 1 Bank Statement Ending Balance $ 1, Outstanding Deposits and/or Credits + $ Subtotal (Line 1 + Line 2) = $ 1, Outstanding Checks: $ Outstanding Debits: + $ Subtotal (Line 4 + Line 5) = $ Reconciled Balance (Line 3 Line 6) $ 1, Bank Statement Ending Balance $ 2 Outstanding Deposits and/or Credits + $ 3 Subtotal (Line 1 + Line 2) = $ 4 Outstanding Checks: $ 5 Outstanding Debits: + $ 6 Subtotal (Line 4 + Line 5) = $ 7 Reconciled Balance (Line 3 Line 6) $ R E C O N C I L I N G 10
12 Bounced Checks & the District Attorney s Office 8 Bounced Checks and Bad Checks are the same thing; they both mean that you don t have enough money in your bank account to cover the amount of the check. The banks refer to this as NSF, or Non Sufficient Funds, and the majority of banks will charge you, usually $30 each time this happens. In addition, the establishment that issued the check will charge you their own NSF fee. If you write too many bad checks, the bank will close your account and report you to ChexSystems as a high-risk customer. The information reported to ChexSystems stays on record for a minimum of 5 years. This can prevent you from opening a bank account until the information is removed. ChexSystems can also turn you over to the District Attorney s Office for prosecution. The punishment for issuing bad checks is: Under $200 is a misdemeanor and you could be fined up to $1000 and sentenced up to 1 year in the county jail. Over $200, or any bad check written with a previous conviction, is a felony and you could be sentenced to 1 year or more in state prison and ordered to pay a fine. Several District Attorneys Offices offer a system for first-time, bad check writers which involves repaying the merchant, attending intervention classes and paying all the program fees. While it is possible to repay the amount to the merchant and avoid obtaining a criminal record; the merchant may still pursue a claim against you in small claims court. B O U N C E D C H E C K S 11
13 , AAA FAIR CREDIT FOUNDATION all rights reserved
Introductions. Student Introductions. Purpose. Objectives (Continued) Objectives
Introductions Instructor and student introductions Module overview 1 2 Your name Student Introductions Your expectations, questions, and concerns about checking accounts Purpose will teach you how to use
More informationLearning about. Checking. Accounts WHAT YOU NEED TO KNOW. 2010 Deluxe Corp. All Right Reserved.
Learning about Checking Accounts WHAT YOU NEED TO KNOW 2010 Deluxe Corp. All Right Reserved. Contents Learn About Checking Accounts................................3 Write a Check....................................................4
More informationShare Draft/Checking Account Basics
Goals Share Draft/Checking Account Basics By the end of this session, students will be able to explain and understand: How and why checks are used What factors to compare when shopping for an account How
More informationPurpose of a Checking Account- Money is deposited into an account and checks or drafts can be written to withdraw money from the account.
CHAPTER 9 CHECKING ACCOUNTS AND BANKING SERVICES Purpose of a Checking Account- Money is deposited into an account and checks or drafts can be written to withdraw money from the account. Demand Deposit-
More informationLearn about. How to deposit money. How to make withdrawals and write checks. How to keep track of your money
Cumberland Security Bank s Checking School Learn about How to deposit money How to make withdrawals and write checks How to keep track of your money Depositing Money You can deposit cash and/or checks
More informationSavings and Bank Accounts
LESSON 2 Savings Savings and Bank Accounts Quick Write Suppose a relative gives you a generous gift of $1,000 for your sixteenth birthday. Your parent or guardian says that you can spend $50 on things
More informationMBTeam Banking. Personal Banking Checking Basics
MBTeam Banking Personal Banking Checking Basics What is a Checking Account? A checking account allows you to write checks or use a debit card to pay bills and buy goods. Benefits of a Checking Account
More informationGetting and Keeping A Checking Account
Getting and Keeping A Checking Account You've decided to get a checking account. That's a good idea. Your money will be safe and you'll have a record of what you've paid for. You'll know how much you have
More informationCHECKING BASICS101. 701.255.0042 www.capcu.org
CHECKING BASICS101 701.255.0042 www.capcu.org This book is intended as a general guide to the topics discussed, and it does not deliver accounting, personal finance, or legal advice. It is not intended,
More informationAnytime Adviser Checking Account Coach
Anytime Adviser Checking Account Coach Welcome. This interactive guide coaches you in managing your checking account. You may move from chapter to chapter by selecting headings from the left. Click on
More informationChecking 101. Property of Penn State Federal Credit Union
Checking 101 Checking 101 Checking Account Basics A check is a written order that represents cash Credit Union checking accounts are also called SHARE DRAFT accounts A share draft is equivalent to a check,
More informationWelcome! You ve made a wise choice opening a savings account. There s a lot to learn, so let s get going!
Savings Account Welcome! Welcome to Young Americans Bank, the only bank in the world designed specifically for young people! Mr. Bill Daniels started Young Americans Bank in 1987 because he thought it
More informationElkhorn Federal Credit Union
Accounts 101 Elkhorn Federal Credit Union First and foremost the number one principle to managing your checking account is to make sure there is enough money in your account to cover the transactions that
More informationChecking Account & Debit Card Simulation and Student Worksheet. Understanding Checking Accounts and Debit Card Transactions
Checking Account & Debit Card Simulation and Student Worksheet Understanding Checking Accounts and Debit Card Transactions What is a Checking Account? Common financial service used by many consumers Funds
More informationWhat is a Checking Account? Checking Account & Debit Card Simulation. What is a Check? Bouncing a Check. Other Checking Components
Checking Account & Debit Card Simulation Understanding Checking Accounts and Debit Card Transactions What is a Checking Account? Common financial service used by many consumers Funds are easily accessed
More informationParticipant Guide Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum
Check It Out Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum TABLE OF CONTENTS Page Determining Your Checking Account Needs 1 Checking Account Fees 2 Practice Exercise: Choosing
More informationChecking 101. Checking Out Checking Accounts
Checking 101 Checking Out Checking Accounts Checking Account Basics A check is a written order that represents cash Credit Union checking accounts are also called SHARE DRAFT accounts A share draft is
More informationStandard 4: The student will demonstrate the ability to balance a checkbook and reconcile financial accounts. Standard 4.
STUDENT MODULE 4.1 MANAGING A BANK ACCOUNT PAGE 1 Standard 4: The student will demonstrate the ability to balance a checkbook and reconcile financial accounts. Standard 4. Tracking Your Money Alexis stops
More informationChecking Account Workbook. By:
Checking Account Workbook By: Opening a checking account: One of the safest and easiest ways to manage your money is through a checking account. When you open a checking account make sure you have the
More informationChapter 9. Checking Accounts and Other Banking Services
Chapter 9 Checking Accounts and Other Banking Services Checking Account Basics Checking Account - An account that allows depositors to write checks to make payments. Check - A written order to a bank to
More informationChecking Accounts. Open, Manage, and Reconcile
Checking Accounts Open, Manage, and Reconcile 1. What is a checking account? A checking account is opened at a bank or other financial institution. Banks offer several different types of checking accounts.
More informationStandard 4: The student will demonstrate the ability to balance a checkbook and reconcile financial accounts. Standard 4.
TEACHER GUIDE 4.1 MANAGING A BANK ACCOUNT PAGE 1 Standard 4: The student will demonstrate the ability to balance a checkbook and reconcile financial accounts. Standard 4. Tracking Your Money Priority Academic
More informationkeeping a running balance
keeping a running balance Record checks, a check card payment, an ATM transaction and a deposit in the checkbook register below. Include the date, description, and amount of each entry. Calculate the balance.
More informationChecking Account. Money Smarts for Kids. Money Skills for Life. Member FDIC. Welcome! What Is a Checking Account? Why Is a Checking Account So Great?
Checking Account Welcome! Welcome to Young Americans Bank, the only bank in the world designed specifically for young people! Mr. Bill Daniels started Young Americans Bank in 1987 because he thought it
More informationTake Charge of Your Own Checking Account ASSESSMENT ONE: Assessment #1
Assessment #1 ASSESSMENT ONE: Knowledge ο T / F You can only deposit checks into a checking account. ο T / F When using a debit card to make a purchase, the money will immediately be be withdrawn from
More informationlesson six using banking services teacher s guide
lesson six using banking services teacher s guide using banking services web sites web sites for banking services The Internet is probably the most extensive and dynamic source of information in our society.
More informationChecking and Banking
Chapter 5 Checking and Banking 5.1 Checking Accounts 5.2 Banking Services and Fees Lesson 5.1 Checking Accounts Learning Objectives LO 1-1 Describe the purpose of a checking account and the forms associated
More informationBanking Basics 101. How to Manage Your Finances and Still Have Money Left Over For Pizza. Course objectives learn about:
Banking Basics 101 Course objectives learn about: Using a checking account Various types of payment vehicles Benefits of a savings account How to Manage Your Finances and Still Have Money Left Over For
More informationWelcome. 1. Agenda. 2. Ground Rules. 3. Introductions. Check It Out 2
Check It Out Welcome 1. Agenda 2. Ground Rules 3. Introductions Check It Out 2 Objectives: Part 1 State the benefits of using a checking account Determine which checking account is best for you Identify
More informationG.A.P. Federal Credit Union. Click to Continue
G.A.P. Federal Credit Union Click to Continue MAKE YOUR PAYMENTS THE EASY WAY WRITE A CHECK Click to Continue Knowing how to use a share draft/checking account is an important skill for today. It provides
More informationAV Equipment: Overhead projector with overheads of a blank check register and a bank reconciliation form.
Section 2 Financial Basics Title of Lesson/Subject: Manage Your Checking Account Prepared by: LaRee Misek Contact : E-mail address: laree.misek@sendit.nodak.edu Time Allotment: 2 weeks Grade: 8, 9 or 10
More informationBasic Banking. 2) Money that a bank allows you to borrow and pay back with interest
Basic Banking When choosing a bank, you should look for a bank that offers the type of accounts and services you are looking for. You might look for convenience of branch locations, great customer service,
More informationChecking Account & Debit Card Simulation. Understanding Checking Accounts and Debit Card Transactions
Checking Account & Debit Card Simulation Understanding Checking Accounts and Debit Card Transactions What is a Checking Account? Common financial service used by many consumers Funds are easily accessed
More informationYour Checking Account
Your Checking Account What You Need to Know Getting Started Staying in Balance Practice Examples Provided by Farmers & Merchants Union Bank Contents Learn About Checking Accounts 1 How to Write a Check
More informationHow To Understand How To Get A Bank Account
Opening a Bank Account Section Objectives A basic component in establishing financial independence is Opening a Bank Account. Banking services are essential tools for managing personal finances and building
More informationHow to manage manage your your checking checking account. account.
How How to manage to manage your your checking checking account. account. Introduction Welcome to Desert Schools Federal Credit Union. Congratulations on your first checking account! It s the perfect time
More informationFDIC Money Smart Financial Education Program
Check it Out Use this tip sheet to help you in the process of selecting, opening, and maintaining a checking account. This tip sheet covers the following topics: Determining your checking account needs
More informationAccount a service provided by a bank allowing a customer s money to be handled and tracks money coming in and going out of the account.
Account a service provided by a bank allowing a customer s money to be handled and tracks money coming in and going out of the account. Account fee the amount charged by a financial institution for the
More informationNew Direction. Within Your Reach! A Financial Literacy Training Presentation for our Members by:
New Direction Within Your Reach! A Financial Literacy Training Presentation for our Members by: Maintaining a Checking Account Keeping track of Deposits and Withdrawals Why Should I Keep a Check Register?
More informationUnit 2 The Basic Accounting Cycle
Unit 2 The Basic Accounting Cycle Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Business Transactions and the Accounting Equation Transactions That Affect Assets, Liabilities, and
More informationInstructor Guide Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum
Check It Out Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum TABLE OF CONTENTS Page Module Overview 1 Purpose 1 Objectives 1 Time 1 Materials and Equipment Needed to Present
More informationTips on Managing Your Checking Account
Tips on Managing Your Checking Account How to Successfully Manage Your Checking Account By Liberty Check Printers Credit Union members have access to one of the most powerful checking account management
More informationTeacher's Guide. Lesson Six. Banking Services 04/09
Teacher's Guide $ Lesson Six Banking Services 04/09 banking services websites Students will make wise choices about their banking services once they understand such fundamentals as: selecting and managing
More informationChecking Account and Debit Card Simulation
Checking Account and Debit Card Simulation Student Instructions and Worksheets Introductory Level Take Charge Today May 2006 Checking Account & Debit Card Simulation Page 1 Checking Account Student Instructions
More informationBANKING FOR SUCCESS PRE-CLASS YOUR NAME: DATE:
BANKING FOR SUCCESS PRE-CLASS YOUR NAME: DATE: Please answer the following questions for us it will help us learn more about the problems our participants face so that we can make the classes better. Please
More informationChecking Account and Debit Card Simulation
Checking Account and Debit Card Simulation Student Instructions and Worksheets Get Ready to Take Charge of Your Finances Family Economics & Financial Education May 2006 Get Ready to Take Charge of Your
More informationUneasy about getting started? Not to worry. SageLink Credit Union has trained employees to help you every step of the way.
Checking If you re like most young adults, you spend a lot of time thinking about money. How to get money? What to spend your money on? Where to keep your money in between? A MoneyLink Checking account
More informationBanking Procedures. Online Resources CHAPTER 5
CHAPTER 5 Banking Procedures Getty Images/PhotoDisc C hapter 5 discusses banking activities for consumers and banking in the United States. Many benefits and services for consumers are available from financial
More informationVocabulary Financial Institutions Student Worksheet
Vocabulary Student Worksheet Page 1 Name Period Primary 1. Bounced Check: Vocabulary Financial Institutions Student Worksheet 2. ATM Charge: 3. Stop Payment Fee: 4. Travelers Checks: 5. ATM: 6. FDIC: 7.
More informationChoosing and Using a Checking Account
LESSON 8 Choosing and Using a Checking Account LESSON DESCRIPTION AND BACKGROUND The students learn the fundamentals of maintaining a checking account. They examine electronic banking methods, the writing
More informationStudent Activities. Lesson Six. Banking Services 07/10
Student Activities $ Lesson Six Banking Services 07/10 name: date: choosing a checking account name of bank: branch information Branch nearest your home: Branch nearest your work: Number of branches: number
More informationLearn to Manage Your Checking Account and Protect Your Money
Managing Your Checking Account Learn to Manage Your Checking Account and Protect Your Money Benefits of Your Checking Account Maintaining your TFCU share draft (checking) account responsibly and accurately
More informationWrite Checks the Right Way
Write Checks the Right Way Guide G-220 Revised by Fahzy Abdul-Rahman 1 Cooperative Extension Service College of Agricultural, Consumer and Environmental Sciences CHECKS VS. OTHER PAYMENT METHODS Checks
More informationlesson six banking services supplemental materials 04/09
lesson six banking services supplemental materials 04/09 banking terms account Money deposited with a financial institution for investment and/or safekeeping purposes. assets Items of monetary value (e.g.,
More informationPart I: Checks and Checking Concepts
Part I: Checks and Checking Concepts Managing a checking account is an easy, step-by-step process that anyone can learn. In spite of the rise of ATM, debit and credit cards, direct deposit, automatic bill
More informationUsing Banking Services
Teacher's Guide $ Lesson Six Using Banking Services 04/09 using banking services websites websites for banking services The internet is probably the most extensive and dynamic source of information in
More informationUnit 5: Banking Options
Read Chapter 5 in the text. Unit 5: Banking Options Read this unit including websites. Suggestions: you may want to write down some key points. This information will be very basic for some of you. For
More informationlesson six banking services overheads
lesson six banking services overheads beware of these high-cost financial services pawn shops charge very high interest for loans based on the value of tangible assets (such as jewellery or other valuable
More informationChecking Account and Debit Card Simulation
Checking Account and Debit Card Simulation Student Assessment Get Ready to Take Charge of Your Finances Family Economics & Financial Education April 2006 Get Ready to Take Charge of Your Finances Checking
More informationAccounting. Chapter 6
Accounting Chapter 6 Lesson 6-1 Money is referred to as cash in accounting Check Checking account When open a checking account sign a signature card for all people who are allowed to sign checks Deposit
More informationA Community Bank with Community Values"
Dear Valued Customer; A Community Bank with Community Values" Now you can make the switch with ease! Our Switch Kit includes everything that you need to switch all your accounts, including auto transactions!
More informationChecking Account Management
Checking Account Management 595 Market Street, 16th Floor San Francisco, CA 94105 888.456.2227 www.balancepro.net Whether you have a history of overdraft or nonsufficient funds charges or you just want
More informationOverdraft Education Practice & Reference Materials
Overdraft Education Practice & Reference Materials 2011 IN-Focus Digital Booklet Instructions 2 This booklet is designed for use with the First Financial Bank Overdraft Education video. Any unauthorized
More informationTable of Contents... 1. Money Smart... 2. Check It Out... 3. Determine Your Checking Account Needs... 4. Checking Account Fees...
$ Table of Contents Table of Contents... 1 Money Smart... 2 Check It Out... 3 Determine Your Checking Account Needs... 4 Checking Account Fees... 5 Types of Checking Accounts... 7 Choosing a Checking Account...
More informationPinnacle Credit Union is here to help you take full advantage of your membership with money-making and money-saving products and services.
_ Dear New Member: Pinnacle Credit Union is here to help you take full advantage of your membership with money-making and money-saving products and services. If you are one of the many new members that
More informationBanking ABCs. After completing this lesson you will be able to:
Choosing and Balancing a Checking Account Marquis looked up in the sky to see the signs the planes were towing. It was his first day on campus as a freshman at State U. All around him students were walking
More informationCHECK ENFORCEMENT GUIDEBOOK. Maricopa County PROGRAM. Attorney s Office. Where to submit a bad check. Bill Montgomery. Page 1
Page 1 Maricopa County Attorney s Office Bill Montgomery Maricopa County Attorney CHECK ENFORCEMENT GUIDEBOOK CHECK ENFORCEMENT PROGRAM Accepting a check What to do with a bad check How to submit a check
More informationPersonal Banking 101 Interested in learning about how to manage your money? Personal Banking 101 will help you understand the financial fundamentals.
Personal Banking 101 Interested in learning about how to manage your money? Personal Banking 101 will help you understand the financial fundamentals. Checking Account If you need a safe place to keep your
More informationTable of Contents. Money Smart for Adults Curriculum Page 2 of 26
Table of Contents Checking In... 3 Pre-Test... 4 Using Electronic Banking... 6 Accurately Recording Account Activity... 10 Activity 1: Record Transactions in Your Check Register... 11 Activity 2: Reconcile
More informationChecking Account and Debit Card Simulation
Checking Account and Debit Card Simulation Student Assessment Answer Key Introductory Level Directions Step One: View s monthly transactions described below and complete all necessary transactions using
More informationBANK OF ADVANCE SWITCH KIT
BANK OF ADVANCE SWITCH KIT CLOSURE CHECK LIST Make sure all checks have cleared on your checking account. Give your Bank of Advance teller a copy of your last bank statement so automatic deposits, withdrawals
More informationPersonal Financial Skills: WORKBOOK 2: Working With Checking and Savings Accounts
Personal Financial Skills: WORKBOOK 2: Working With Checking and Savings Accounts Personal Financial Skills Realizing Your Financial Goals Whether you want to buy a home, start a business or pay off your
More informationTable of Contents. Module Summary... 37 Knowledge Check... 38. Module 2: Check It Out Participant Guide. Money Smart for Young Adults Modules...
Table of Contents Money Smart for Young Adults Modules...3 Your Guides...4 pre-assessment...5 Checking In...6 Welcome... 6 Purpose... 6 Objectives... 6 Agenda and Ground Rules... 7 Student Materials...
More informationChecking Account FINANCIAL INSTITUTION WITHDRAWAL. Should I Be Banking? Checking Account. Taking Charge of Your Own. And More!
TEEN GUIDE moneytalks4teens.org Checking Account Crossword Puzzle Should I Be Banking? Taking Charge of Your Own Checking Account Choosing Your FINANCIAL INSTITUTION Opening Your Checking Account Making
More informationName: Date : Period:
Checking Account Vocabulary Check An order to pay money from your checking account to a person or company. Deposit Deposit Slip Putting money into a bank account A paper that you fill out which tells you
More informationCHECKING ACCOUNTS and ATM TRANSACTIONS
Grades 6-8 Lesson 1 CHECKING ACCOUNTS and ATM TRANSACTIONS Key concepts: Checking accounts, ATMs, debit cards, credit cards, bank fees and regulation, safeguarding personal information Summary: This lesson
More informationFINANCIAL/BANKING LITERACY ASSISTANCE FOR LATINO AMERICANS
FINANCIAL/BANKING LITERACY ASSISTANCE FOR LATINO AMERICANS REASONS WHY YOU SHOULD OPEN A BANK ACCOUNT Safety Carrying cash on payday or keeping large amounts of money at home or in your wallet can make
More informationlesson six banking services overheads
lesson six banking services overheads beware of these high-cost financial services pawn shops charge very high interest for loans based on the value of tangible assets (such as jewelry or other valuable
More informationDEBIT CARD FREQUENTLY ASKED QUESTIONS
What is a debit card? How can I activate my debit card? What should I do if my credit card is lost or stolen or if I notice fraudulent debit card transactions? Are there transaction fees for using my debit
More informationTROY POLICE DEPARTMENT MERCHANTS GUIDE BAD CHECKS Page 1 of 13
Page 1 of 13 Millions of dollars are lost annually through the passing of bad checks in Oakland County. The complaints for such fraudulent transactions now mount in the thousands. The Troy Police Department
More informationYour new checking account
Your new checking account Getting started guide The information in this disclosure may not be entirely accessible to screen readers. Please call the Phone Bank at 1-800-TO-WELLS if you would like to obtain
More informationHow to Use a Financial Institution
How to Use a Financial Institution Latino Community Credit Union & Latino Community Development Center HOW TO USE A FINANCIAL INSTITUTION LATINO COMMUNITY CREDIT UNION & LATINO COMMUNITY DEVELOPMENT CENTER
More informationkeeping a running balance answer key
keeping a running balance answer key record deposits and keep a running balance in the checkbook register below. 1. On May 26, your balance is $527.96. 2. On May 27, you write check #107 to your landlord,
More informationSavings & Checking. { http://youth.macu.com }
Savings & Checking { http://youth.macu.com } Mountain America Credit Union knows that it s never too early to start learning critical money management skills. That s why we ve put this information together
More informationBURNET COUNTY ATTORNEY S OFFICE Don't Get Burned By A Hot Check
Eddie Arredondo Hot Check Division Burnet County Attorney 220 South Pierce Phone: (512) 756-5413 or (512) 715-5208 Burnet, Texas 78611 Fax: (512)756-9290 BURNET COUNTY ATTORNEY S OFFICE Don't Get Burned
More informationBANKING BASICS WHY YOU WANT TO KEEP YOUR MONEY IN THE BANK
BANKING BASICS WHY YOU WANT TO KEEP YOUR MONEY IN THE BANK REASONS TO KEEP MONEY IN A BANK Why keep your money in a bank? Safety Convenience Cost Security Financial Future BENEFITS OF CHECKING ACCOUNTS
More informationChoosing and Using a Checking Account
LESSON 8 Choosing and Using a Checking Account Introduction Buying a new mp3 player is not a snap decision. You have to know the storage capacity of the player the larger the capacity, the more music and
More informationCOLLEGE. Going from high school to college. Getting Ready for College CHAPTER 1. Getting organized
CHAPTER 1 COLLEGE Getting Ready for College Going from high school to college means taking more difficult classes, meeting new people, and setting your own hours. But it also means taking charge of your
More informationMoney and Banking. Introduction. Learning Objectives
Money and Banking Introduction Money and Banking Learning Objectives Lesson 1 Time Value of Money: Time is Money! Distinguish between simple interest and compound interest. Calculate simple interest and
More informationHow to Manage Your Checking Account
CHAPTER 3 How to Manage Your Checking Account Activity: Individual 25 MINUTES Materials: One activity sheet and one calculator per student Objective: The purpose of this activity is for students to demonstrate
More informationThe Webster Visa Prepaid Debit Card Frequently Asked Questions
Contact Us Welcome to Webster Bank. Please contact our Card Services support line at 866.242.0861 with any questions or concerns, 24/7. Thank you for being a valued Webster Customer! The Webster Visa Prepaid
More informationNewcomer Finances Toolkit. Banking. Worksheets
Newcomer Finances Toolkit Banking Worksheets Ottawa Community Loan Fund Fonds d emprunt Communautaire d Ottawa 22 O Meara St., Causeway Work Centre, Ottawa, ON K1Y 4N6 Tel: 613-594-3535 Fax: 613-594-8118
More informationStudent Take Home Guide. Money Smart. Check It Out
Student Take Home Guide Money Smart Check It Out Table of Contents Table of Contents...1 Money Smart...2 Check It Out...3 Determine Your Checking Account Needs...4 Checking Account Fees...5 Types of Checking
More informationBanking Guide for International Students usbank.com/northwestern
Banking Guide for International Students usbank.com/northwestern Member FDIC Opening a U.S. Bank Checking Account Q. What form of identification will I need to open a U.S. Bank checking account? A. International
More informationWhy should I have a bank account and how do I use one?
Take it to the Bank! 2 Money Matters The BIG Idea Why should I have a bank account and how do I use one? AGENDA Approx. 45 minutes I. Warm Up: Why a Bank? (5 minutes) II. Checking Accounts: Putting Your
More informationOption 1 Teacher Information Page 1 Teacher Information
Option 1 Teacher Information Page 1 Teacher Information FINANCIAL INSTITUTIONS 1. Ask students where they keep their money. Discuss with them the three most common financial institutions in which the majority
More information1.4. Will my Social Security and Supplemental Security Income benefits be safe?
1. OVERVIEW 1.1. What is the Direct Express card? The Direct Express card is a prepaid debit card available to Social Security and Supplemental Security Income check recipients who wish to receive their
More informationChecking Account Simulations
Checking Account Simulations ADVANTAGES AND DISADVANTAGES OF A CHECKING ACCOUNT Even though you have already opened an account, you need to be aware of the advantages and the disadvantages of using a checking
More informationPersonal Banking Switch Kit
Personal Banking Switch Kit A change for the better Welcome to Bremer Bank At Bremer Bank, we provide you with the tools to help you meet your financial goals. That starts with this Personal Banking Switch
More informationConsumer Decision Making Contest 2001-2002 Study Guide ATM/Debit Cards
Consumer Decision Making Contest 2001-2002 Study Guide ATM/Debit Cards The popularity of ATM (automated teller machine) and debit cards is rising. ATM cards have a longer history than debit cards, but
More information