1. Banking Services ATM card Allows you to get money out of ATM
Requires PIN number

2. Banking Services Debit Cards
Comes directly out of checking, savings, or money market account

3. Banking Services As good as cash: Cashier/Bank Checks Certified Checks
Guaranteed by banks
Certified Checks
Stamped personal check b/c funds are set aside to pay on the check

4. Banking Services: Checking
Regular Checking
Monthly and per-check fees

5. Banking Services: Checking
Free Checking
Minimum balance is often required
If you fall below, you often owe a fee

6. Banking Services: Checking
Writing a Check
Please fill out the check
Pay Lee-Davis $63.12 for “student fees”

7. Banking Services: Checking
Parts of a check:
Date
Payor—the person writing the check
Payee—the person receiving the money

8. Banking Services: Checking
Parts of a check:
Numerical Amount, Word Amount
Memo Line
Signature Line

9. Banking Services: Checking
Parts of a check:
ABA routing number—identifies bank/credit union
Account number—identifies your account
Check number—identifies check number 

10. Banking Services: Checking
Practice again
Write a check to Martins for $ for “groceries”

11. Banking Services: Checking
Check Register (Checkbook)
Record your deposits (money in) and withdrawals (money out)

12. Banking Services: Checking
When you don’t have enough money to cover your checks?
Fee to bank (Overdraw/Overdraft)
Fee to payee (“Returned check fee”)

13. Banking Services: Checking
Overdraft Protection
Some banks protect you from overdraft (they will cover you if you overdraft)
Doesn’t work forever
Sometimes costs extra money

14. Banking Services: Checking
Should you ever make check payable to “cash”?
No—if you lose it, anyone can cash it

15. Banking Services: Checking
You can call your bank and ask to “stop payment” on a check. But it costs you a fee. When/Why would you ever do it?
If you lose a check or if someone steals it