An Introduction to Checking Accounts

What is a Check? A check is a piece of paper with your name, address, and bank account information on it. When someone cashes your check, the amount written on the check is withdrawn from your checking account. Checks can be used to pay bills or other debts. Using checks is a safer way of paying bills (especially by mail).

What is a Debit Card? A debit card (ATM card) is a plastic card with your name and bank account information on it. When you swipe your debit card, the amount owed on is withdrawn from your checking account. Debit cards can be used to pay bills or other debts.

What is a Debit/Credit Card? A debit/credit card is a plastic card with your name and bank account information on it. When you swipe your debit card, the amount owed on is withdrawn from your checking account. Debit/credit cards can be used to pay bills or other debts. Debit/credit cards can be used like a credit card. Instead of you paying a credit card bill about month later, the money is simply withdrawn from you checking account much like a check.

Parts of a Check

Writing Checks Jane Doe October 5, 2013 John Doe 125.00 One hundred twenty-five dollars & 00/100 Jane Doe Birthday Gift

Writing Checks the Wrong Way October 5, 2010 John Doe 9 25.00 Nine hundred twenty-five dollars & 00/100 Jane Doe Birthday Gift

Do not sign/write/ stamp below this line Endorsing a Check ENDORSE HERE: X _____________________________ ______________________________ Do not sign/write/ stamp below this line John Q. Student 8769871

Sample Checks

Sample Check Register

Sample Bank Statement Early Scholar National Bank

Video Review Running Time: 16:22 http://www.youtube.com/watch?v=D9wq_5JrYcY

As a Class Use the checks and the check register provided to practice writing checks and recording transactions in a check register.

Practice Writing Checks & Entering Transactions Write a beginning balance of $250.65 in the top right corner of your check register. Write Check #1234 to Southern Ca. Edison (SCE) for $80.33 on 9/1 Payroll (Direct Deposit) of $295.00 on 9/2 ATM Withdrawal of $100 on 9/4 Write Check #1235 to Macy’s for $29.94 on 9/6 Walmart debit card purchase of $15.22 on 9/9 Write Check #1236 to Farmer’s Insurance for $22.05 on 9/11 Void Check #1236 to Farmer’s Insurance (add $22.05 back in) Write Check #1237 to Farmer’s Insurance for $22.50 on 9/11 Payroll (Direct Deposit) of $254.33 on 9/14 Write Check #1238 to Nuevo Water Company for $52.87 on 9/19 Write Check #1239 to The Gas Company for $32.44 on 9/20 Birthday gift deposit for $100.00 on 9/22 Target Debit Card for $36.76 on 9/25 Walmart Debit Card for $15.33 on 9/29 Your ending balance should be $514.59

Completed Check Register 250 65 1234 9/1 Southern California Edison 80 33 170 32 9/2 Deposit – Payroll 295 00 465 32 9/4 ATM 100 00 365 32 1235 9/6 Macy’s 29 94 335 38 9/9 Walmart – Debit 15 22 320 16 1236 9/11 Farmer’s Insurance VOID 22 05 298 11 9/11 Farmer’s Insurance 22 05 320 16 1237 9/11 Farmer’s Insurance 22 50 297 66 9/14 Deposit – Payroll 254 33 551 99 1238 9/19 Nuevo Water Company 52 87 499 12 1239 9/20 The Gas Company 32 44 466 68 9/22 Birthday Gift – Deposit 100 00 566 68 9/25 Target – Debit 36 76 529 92 9/29 Walmart – Debit 15 33 514 59