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Checking accounts
Checking accounts
Checking accounts
Checking accounts
Checking accounts
Checking accounts
Checking accounts
Checking accounts
Checking accounts
Checking accounts
Checking accounts
Checking accounts
Checking accounts
Checking accounts
Checking accounts
Checking accounts
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Checking accounts

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Published in: Economy & Finance, Business
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Transcript

  • 1.  Checking accounts Checkbook Other debits Protecting Your Data Endorsements
  • 2.  Demand deposit Check  Written order to bank to pay the stated amount to the person Benefits:  Easier than carrying money  Cancel checks – proof of payment FDIC – insures up to $100,000
  • 3.  Little money Given blank checks Monthly fee Signature card  Compares signature
  • 4.  Checkbook register  Tool used to track checking account transactions Deposits  Money added to the checking or saving account Running balance  Shows amount of money in account
  • 5.  Automatic withdrawals  Money deducted from account and transferred to another party ATM Fees
  • 6.  Check  Legal document used to transfer money Payee  Who check is to
  • 7.  Current date  Post-dated checks – future date Never leave anything blank Fill in extra spaces with lines or zeroes Sign name exactly as signature card Memo line is optional VOID – if mistake
  • 8.  Check fraud  Someone alters check to get data or money Forgery  Signs another’s name
  • 9.  Keep checks in safe place Protect pin number Never give out bank account number Use credit card over Internet  Instead of debit card
  • 10.  Endorsements  Signature on back to authorize bank to cash or deposit check
  • 11.  Blank  Just a signature Restrictive  Purpose of transfer  “For deposit only” Special  Being transferred to someone else  “Pay to the order of”
  • 12.  Automatic Deposits  Money electronically placed in account
  • 13.  Safety Deposit Box  Important documents  Safe from fire or theft Bounced check  NSF – Non sufficient funds  Over draft protection sometimes Stop Payment  Banks told not to honor check
  • 14.  Cashier’s Checks  Check issued against bank funds Money Order  Type of check used to make a payment End

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