An Introduction to An Introduction to Checking AccountsChecking Accounts

What is a Check?What is a Check?

•A checkcheck is a piece of paper with your name, address, and bank account information on it.• When someone cashes your check, the amount written on the check is withdrawn from your checking account. • Checks can be used to pay bills or other debts.• Using checks is a safer way of paying bills (especially by mail).

What is a Debit Card?What is a Debit Card?

•A debit card debit card (ATM card) is a plastic card with your name and bank account information on it.• When you swipe your debit card, the amount owed on is withdrawn from your checking account. • Debit cards can be used to pay bills or other debts.

What is a Debit/Credit Card?What is a Debit/Credit Card?

•A debit/credit card debit/credit card is a plastic card with your name and bank account information on it.• When you swipe your debit card, the amount owed on is withdrawn from your checking account. • Debit/credit cards can be used to pay bills or other debts.• Debit/credit cards can be used like a credit card. Instead of you paying a credit card bill about month later, the money is simply withdrawn from you checking account much like a check.

Parts of a CheckParts of a Check

Writing ChecksWriting Checks

October 5, 2013

John Doe 125.00

One hundred twenty-five dollars & 00/100

Birthday Gift Jane Doe

Writing Checks the Wrong Writing Checks the Wrong WayWay

October 5, 2010

John Doe 25.00

twenty-five dollars & 00/100

Birthday Gift Jane Doe

Nine hundred

9

Endorsing a CheckEndorsing a Check

ENDORSE HERE:

X _____________________________

______________________________

______________________________

Do not sign/write/ stamp below this line

______________________________

John Q. Student8769871

Sample ChecksSample Checks

Sample Check Register Sample Check Register

Sample Bank StatementSample Bank Statement

FOCUS National Bank

Video ReviewVideo Review

Running Time: 16:22

http://www.youtube.com/watch?v=D9wq_5JrYcY

As a ClassAs a Class

• Use the checks and the check register provided to practice writing checks and recording transactions in a check register.

Practice Writing Checks & Practice Writing Checks & Entering TransactionsEntering Transactions

•Write a beginning balance of $250.65 in the top right corner of your check register.•Write Check #1234 to Southern Ca. Edison (SCE) for $80.33 on 9/1•Payroll (Direct Deposit) of $295.00 on 9/2•ATM Withdrawal of $100 on 9/4•Write Check #1235 to Macy’s for $29.94 on 9/6•Walmart debit card purchase of $15.22 on 9/9•Write Check #1236 to Farmer’s Insurance for $22.05 on 9/11•Void Check #1236 to Farmer’s Insurance (add $22.05 back in)•Write Check #1237 to Farmer’s Insurance for $22.50 on 9/11•Payroll (Direct Deposit) of $254.33 on 9/14•Write Check #1238 to Nuevo Water Company for $52.87 on 9/19•Write Check #1239 to The Gas Company for $32.44 on 9/20•Birthday gift deposit for $100.00 on 9/22•Target Debit Card for $36.76 on 9/25•Walmart Debit Card for $15.33 on 9/29

Your ending balance

should be $514.59

Completed Check RegisterCompleted Check Register

1234 9/1 Southern California Edison 80 33 170 32 9/2 Deposit – Payroll 295 00 465 32 9/4 ATM 100 00 365 32 1235 9/6 Macy’s 29 94 335 38 9/9 Walmart – Debit 15 22 320 16 1236 9/11 Farmer’s Insurance VOID 22 05 298 11 9/11 Farmer’s Insurance 22 05 320 161237 9/11 Farmer’s Insurance 22 50 297 66 9/14 Deposit – Payroll 254 33 551 991238 9/19 Nuevo Water Company 52 87 499 121239 9/20 The Gas Company 32 44 466 68

250 65

9/22 Birthday Gift – Deposit 100 00 566 68 9/25 Target – Debit 36 76 529 92 9/29 Walmart – Debit 15 33 514 59

On Your OwnOn Your Own