Checking accounts

388 views

Published on

Published in: Economy & Finance, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
388
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
9
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Checking accounts

  1. 1.  Checking accounts Checkbook Other debits Protecting Your Data Endorsements
  2. 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. 3.  Little money Given blank checks Monthly fee Signature card  Compares signature
  4. 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. 5.  Automatic withdrawals  Money deducted from account and transferred to another party ATM Fees
  6. 6.  Check  Legal document used to transfer money Payee  Who check is to
  7. 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. 8.  Check fraud  Someone alters check to get data or money Forgery  Signs another’s name
  9. 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. 10.  Endorsements  Signature on back to authorize bank to cash or deposit check
  11. 11.  Blank  Just a signature Restrictive  Purpose of transfer  “For deposit only” Special  Being transferred to someone else  “Pay to the order of”
  12. 12.  Automatic Deposits  Money electronically placed in account
  13. 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. 14.  Cashier’s Checks  Check issued against bank funds Money Order  Type of check used to make a payment End

×