Choosing a checking account requires considering fees, interest rates, and minimum balance requirements. It is important to carefully manage your checkbook by recording all transactions in the register and reconciling it with bank statements. Writing bad checks can result in overdraft fees, while protecting your checks, debit cards, and PINs is essential for security. Proper check writing technique helps prevent errors and alterations.

1. Checks and Accounts!
Personal Finance

2. Choosing An Account
• Fees and Fines- You might be charged a fee
each time you write a check, use an ATM, or
over draw your account. You can also be
charged if you don’t keep enough money in an
account.
• Interest- some checking accounts pay you
interest if you keep a certain amount of
money in the account.
• Minimum Balances- Many accounts require a
minimum amount kept in your account to
avoid a fee.

3. Managing your Checkbook
• Use the check register to record all transactions.
• Write the amount of deposit or subtract a
payment/purchase.
• Check your account statement and compare it to
your check register.
• If balances don’t match, be sure to recheck your
math and transactions.
• If issues still continue, notify your bank!

4. “BOUNCING” a Check
• When you write a check for money not in your
account
• Called an Overdraft
• Two things can happen:
– Bank will pay the check and notify you that you
owe money and charge you an overdraft fee.
– Return the check to you or the business. You will
have to pay a NSF (Not sufficient funds) fee to
both the bank and the retailer where you wrote
the bad check.

5. Lost or Stolen Checks
• Report any losses or stolen checks to your
financial institution immediately.
• You may also want to notify the police if
checks are stolen.
• A security will be placed on your account and
your checks will be examined.

6. Checking Tips
• Treat checks like cash- Keep them in a safe place.
• Don’t take checks that appear altered and don’t
make changes on checks.
• Don’t sign blank checks
• Don’t make checks out to “CASH”
• Destroy all blank checks and unused deposit slips
• Don’t let merchants (retail owners) write your
credit card number on checks.
• Have identification ready to show the cashier. It is a
security measure to protect YOU.

7. Electronic Money
• ATM (Automated Teller Machines)- Allow you to
get cash, transfer money, deposit checks.
• ATM cards are often available when you open an
account. You need to maintain a minimum balance
to help prevent an overdraft fee.
• Keep your ATM Pen safe (password)
• MasterCard and Visa Debit Cards- Look like credit
cards, but are not.
• Accepted where ever credit cards are accepted and
used like checks– The money comes straight out of
your Account.
• Sometimes there are fees associated with these
cards.

8. Keep your money Safe
• If you choose your pen, keep it a random
number. No birthdates, addresses, or lucky
jersey numbers
• Memorize your pen, don’t write it on the card
or leave it at home.
• Don’t let others watch you as you punch in
your pen at walk-up or drive-up ATMs.
• Be aware of your surroundings at ATMs– make
sure they are well lit and avoid going at night.
• Limit the amount you withdraw every month
and enter into transaction registers.

11. 1. Date

12. 2. Payee

13. 3. Numerical Amount

14. 4. Written Amount

15. 5. Reason for check

16. 6. Endorsement- In Cursive

17. Make sure there are NO blank spots

18. Notes about Writing Checks:
• NO Blank Areas! draw a line though any open spaces.
• Write clearly & only use ink to help prevent anything from
being altered or changed.
• Your check is not legal until you sign it. Also, never sign a
blank check.
• Make sure the amount box and written amount match.
• Write VOID across a check when you make a mistake!

19. Notes Continued:
• Keep a record of all written check numbers– never reuse
check numbers
• When paying with a check- have your ID ready to show.
• A common mistake is an amount such as $100.42 is
incorrectly written as One-hundred forty-two instead of
One-hundred and 42/100. If you do this, the larger amount
may be deducted from your account.
• Don’t forget to write check amounts and numbers in your
transaction register.