other forms of payment
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Other Forms of Payment. 4.02 E Students will understand the purposes of special checks. . Other Common Payment Services. Special Checks Travelers check Requires 1 st signature when check issued Requires 2 nd signature when check used - PowerPoint PPT PresentationTRANSCRIPT
4 .02 E STUDENTS WILL UNDERSTAND THE PURPOSES OF SPECIAL CHECKS.
Other Forms of Payment
Other Common Payment Services
Special Checks Travelers check
Requires 1st signature when check issued Requires 2nd signature when check used
Go to link below and read about traveler’s checks and how they work.
http://usa.visa.com/download/merchants/visa_travelers_cheques_acceptance.pdf
Traveler’s Checks
Traveler’s Checks – Draft drawn by a well-known financial institution on itself or its agent, used when traveling
Go to website http://www212.americanexpress.c
om/dsmlive/dsm/dom/us/en/personal/cardmember/additionalproductsandservices/giftcardsandtravelerscheques/travelerschequesandforeigncurrency.do?vgnextoid=6d17fc671492a110VgnVCM100000defaad94RCRD
Answer the related questions on graphic organizer/guided notes.
Traveler’s Check
Certified Check
A certified check is written by a bank for you from your bank account to give to someone.
It's guaranteed funds that the bank reserves from your account.
Go to website: http://www.superpages.com/supertips/what-is-a-certified-check.html
Use the website to answer the questions on your graphic organizer/guided notes.
Certified Check
Certified Check Questions
1. Who issues a certified check?
2. Give two examples of when you might need a certified check?
3. Why can’t a certified check bounce?
4. Why does a creditor require a certified check?
5. Do banks charge a fee for a certified check?
Cashier’s Check SampleCashier’s Check – A check the bank draws on itself
Common Payment Services
Money Order Draft issued by a
post office, bank, express company, or telegraph company for use in paying or transferring funds for the purchaser
Orders issuing agency to pay amount printed on form to another party
Types of Money Orders: Postal money order Express money order Telegraphic money order
Go to website http://en.wikipedia.org/wiki/Money_order
Write questions 1-5 from nextslide on notebook paper. Usethe website to answer thequestions.
Money Order Questions
1. For what amount of money is a money order issued?
2. When was the Postal Order system established?
3. What is a concern about using money orders?
4. Who usually sells money orders in the United States?
5. Name 5 security features of a postal money order.