Using a Checking Account<br />
Terms<br />Check: A written order to a bank to pay the stated amount to the person or business (payee)named on the check. ...
Complete a checking account application<br />You must fill out a signature authorization form.<br />Opening a Checking Acc...
Check Number<br />ABA Number (American Bankers Association): Top half of the fraction identifies the location and district...
Payee: the person to whom the check is made payable.<br />Numeric amount<br />Written amount<br />Drawer or maker: the per...
 Memo<br />
Writing a Check<br />
Making Deposits<br />
Using a Checkbook Register<br />
Reconciling your Checking Account<br />
Endorsing Checks<br />Blank endorsement:  The signature of the payee written exactly as his or her name appears on the fro...
Blank Endorsement<br />
Special Endorsement<br />
Restrictive Endorsement<br />
Upcoming SlideShare
Loading in …5
×

Using a checking_account

773 views

Published on

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

No Downloads
Views
Total views
773
On SlideShare
0
From Embeds
0
Number of Embeds
39
Actions
Shares
0
Downloads
25
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Using a checking_account

  1. 1. Using a Checking Account<br />
  2. 2. Terms<br />Check: A written order to a bank to pay the stated amount to the person or business (payee)named on the check. <br />Canceled check: A check that bears the bank’s stamp, indicating that is has been cleared.<br />Overdraft: A check written for more money than your account contains.<br />Floating a check: Writing a check knowing you do not have sufficient funds in your account.<br />
  3. 3. Complete a checking account application<br />You must fill out a signature authorization form.<br />Opening a Checking Account<br />
  4. 4.
  5. 5. Check Number<br />ABA Number (American Bankers Association): Top half of the fraction identifies the location and district of the bank. <br /> Bottom half helps in routing the check to the specific area in which the check is drawn.<br />3. Maker’s pre-printed name and address<br />4. Date<br />Parts of a check<br />
  6. 6.
  7. 7. Payee: the person to whom the check is made payable.<br />Numeric amount<br />Written amount<br />Drawer or maker: the person authorized to write the checks on the account.<br /> Account number: consists of 3 different sets of numbers.<br /> First set: Bank’s identification code<br /> Second set: Account number of the maker<br /> Third set: Pre-printed check number<br />
  8. 8. Memo<br />
  9. 9. Writing a Check<br />
  10. 10. Making Deposits<br />
  11. 11. Using a Checkbook Register<br />
  12. 12. Reconciling your Checking Account<br />
  13. 13. Endorsing Checks<br />Blank endorsement: The signature of the payee written exactly as his or her name appears on the front of the check.<br />Special endorsement: Transfers the right to cash the check to someone else. Consists of the words “Pay to the order of (new payee’s name)” and the original payee’s signature.<br />Restrictive endorsement: Restricts or limits the use of the check. “For deposit only in the account of John Smith”<br />
  14. 14. Blank Endorsement<br />
  15. 15. Special Endorsement<br />
  16. 16. Restrictive Endorsement<br />

×