4.1 D EPOSITS Deposit: The amount of money that you put into a bank account. Complete a deposit slip. What is the purpose of a deposit slip? ATM (Automatic Teller Machine): Can be used to make an electronic deposit. In order to use the ATM you’ll need your debit card and PIN (Personal Identification Number). Allows you to access your account and deposit money. Calculations: Total Deposit = (Currency + Coins + Checks) – Cash Back Apex National Bank Syracuse, New York 213 For Deposit to the Account of Bills Coins Checks_______ _______ Date__________________________ Checks or Total From Other Side ______________________________________ Sub Total Sign here if cash received from deposit Less Cash Net Deposit $ |: |: |: Subject to Terms and Conditions of this Bank’s Collection Agreement A

4.2 W RITING C HECKS Checking Account: Monetary account that allows you to write checks against money that has been deposited into it. A check directs a bank to deduct money from your account to make a payment. The account must contain as much money as the amount of the check so you do not overdraw your account. Dollar amounts must be written in word form with the decimal portion expressed as a fraction. Write the following in word form. $65.29 $ John Doe First St.111Date Ocean, NJ Pay to the order of $ Dollars First City Bank Memo 1111 │ :2222 │ : │ :122

4.3 C HECK R EGISTERS Check Register: document used to keep track of deposits, electronic transfers (automatic transfers), and the checks that you have written. Balance: the amount of money in your account. Deposits are added to the balance. Checks, debits, etc. are subtracted from the balance. Calculations: New Balance = Previous Balance – Check Amount New Balance = Previous Balance + Deposit NUMBER DATE CHECK ISSUED TO OR (-)√ (+) BALANCE DESCRIPTION OF DEPOSIT CHECK DEPOSIT $ $ $

4.4 B ANK S TATEMENTS Bank Statement: Receive one each month. List all checks that the bank has cleared. Lists any automatic transfers, ATM transactions, and deposits that have been recorded since the last statement. Service Charge: fee charged to your account for services rendered. What are the penalties for being overdrawn? Calculations: Present = Previous + Deposits – Withdrawals – Service + Interest Balance Balance Charges Your bank statement shows a previous balance of $ You make deposits of $ and $210.40, and write checks for $ and $ You have a $3.00 service charge and earn $0.25 in interest. What is your present balance?

4.5 R ECONCILING THE B ANK S TATEMENT When you get your statement each month, compare the statement to your check register. You reconcile the statement to make sure it agrees with your check register. There may be outstanding deposits or checks that haven’t cleared or been posted. These appear on your register, but not on the statement. Calculations: Adjusted = Statement – Outstanding Checks/ + Outstanding Balance Balance Payments or Debits Deposits Your statement balance is $ You have an outstanding check for $ and an outstanding debit of $ that didn’t post yet. You also have an outstanding deposit of $ What is your adjusted balance?

4.6 O NLINE B ANKING Online Banking or internet banking allows you to bank from anywhere. With internet access you can access your account around the clock, even on the weekends. May be charged fees for this service. Use the table on page 182 to find the proper fees. Calculations: Total = Basic + Bill Payments + Statement + ATM + Cash Fees Charge Surcharge Advance Fee