Opening and Using a Bank Account December 16 th, 2008.

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Presentation transcript:

Opening and Using a Bank Account December 16 th, 2008

Opening an Account  Need…  Minimum cash deposit  2 pcs of ID (At least 1 photo ID)  Need to have signature on them  Ex: liscense, birth cert., passport, student ID  Can be in own name or a joint account with someone else.  Joint accounts may require the signature of 1 or both account holders.

Signature Card  Any cheques signed will be checked against the signature card before they are cashed.  Make sure your signature card is up to date to make sure your cheques are cashed.

Account Passbooks  Keep a record of your recent transactions so that you can see where you money has gone, if there are any fraudulent transactions, or see how your money is growing (interest)

Making a Deposit  Deposit slip needs…  Date  Account number  Name of the account holder  Amount of cash  Amount of cheques  Total deposit amount  Signature (if keeping some of the money, i.e. cashing a cheque)  Total deposit minus any money kept  Initials

Making a Withdrawal  Withdrawal slip needs…  Date  Amount of withdrawal (in numbers)  Amount of withdrawal (in words) (cents as fraction of 100)  Account number  Signature of withdrawer

Practice  Make a deposit of $78 to account #  Withdraw $20 from account #