Convenient way to pay bills
Often safer than using cash
Record keeping system to track expenses and
Access to other bank services such as direct
deposit, online banking, use of a debit card,
and 24/7 access to cash through ATMs
Write checks carefully and keep accurate
records of checks written and deposits made.
Verify the accuracy of the bank statement you
receive each month.
Keep canceled checks among your permanent
Opened by two or more people
Any person who signs on the account has the
right to the entire amount deposited
“Or” account – any authorized account holder
can write checks
“And” account – requires signature of both
owners on checks
For those who prefer to do things at an ATM or
Low minimum balance requirements
Low or no monthly fees
Must pay fees to visit a teller (Could be as high as
This type is good for those who have direct deposit or
use ATMs for withdrawals and transactions
For those who have minimal banking needs
(perhaps pay a few bills or use debit card here
May require direct deposit or minimum
balance to avoid “maintenance fees”
You may be limited to the number of checks or
transactions each month; go over and you’ll
pay a “per item fee”
A checking account in which you can earn interest
on the money in the account.
Usually a minimum initial deposit to open the
Account balances must not fall below the
minimum balance set by the bank or you will have
to pay fees.
Interest rates given are often very, very low (and
may not be worth the balance requirements).
Banks will often provide special perks for
certain age people.
These perks will vary from bank to bank, but
can include free ATM use, free checks,
• Check number
• ABA routing
• Maker’s name and
• Numeric amount
• Written amount
• Maker’s signature
• Routing number
• Account number
Check Number – used for easy identification;
top right hand corner of the check
ABA Routing Number – fraction in the upper
right hand corner of check
Used for internal transaction purposes
“Old school” method – now just used as backup
option in case other routing number can’t be read or
Date – fill in the date you write the check
Usually towards the top, in the center of the check
Postdating of checks is not recommended:
Banks will not cash it before that date
Bank may charge a fee for holding it
Bank may not accept a check over six months old
Payee – the person or company to whom the
check is made payable
Numeric Amount – The amount of dollars and
cents being paid in figures.
Write the amount neatly and clearly, close to
the dollar sign and make sure you insert a
decimal point between dollars and cents.
Written Amount – The amount being paid in
Write the word “and” to separate dollars and
cents. This takes the place of the decimal point.
Use a fraction for the amount in cents.
Draw a line from the cents to the word
Maker’s Signature – gives authorization for the written
check. Written in the lower right of a check.
Routing Number – Bank identification number created
to help facilitate processing of checks. Located in the
lower left hand corner (the left-most number between
the colon symbols)
Account Number – your personal checking account
number. (Lower left hand corner – the number on the
Memo – place at the bottom left of a check for
the maker to write the purpose of a check.
Does not need to be filled in. Optional.
When paying bills companies often ask you to
write your account number there.
A check cannot be cashed until it has been
When two or more people are named as
payees, all must endorse the check
To endorse a check, the payee signs the back of
the check in blue or black ink
Blank Endorsement – the signature of the
payee written exactly as his or her name
appears on the front
If the name is incorrect on the front, you would
correct the mistake by endorsing the check
with the misspelled version first, then with the
correct version below it
Special Endorsement – aka an endorsement in
full, is an endorsement that transfers the right
to cash the check to someone else
Pay to the order of
Restrictive Endorsement – limits the use of the
Example: “For Deposit Only” limits it to a
deposit into the account specified
Safer than blank endorsement in mailing
deposits, in night deposit systems, or other
circumstances where a check may be lost.
For Deposit Only
United California Bank
Acct. # 8-2011-4