Banking: Managing your money

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Presentation transcript:

Banking: Managing your money Chapter 4 Part 1

Common Bank Accounts Checking Account- allows you to make deposits, write checks and withdraw your money at any time Also called put and take accounts Liquid investment- can be bought, sold or converted to cash quickly Service charge- fee you must pay the bank for having the account

Check 4-1 Figure writing a check

Deposit Slip 4-2 filling out a deposit slip

Check Register- record of your checking account transactions Electronic banking (online banking)- transfer of funds by computer instead of using paper checks or cash Overdraft- writing a check for more money than you have in your account You’ll get charged a fee if you over draft

Overdraft protection-your check will be paid by the bank even if you do not have enough in your account to cover it Post-dated checkcheck with a future date on it, do not write one Example 4-2

Check Register