1. Banking: Managing your money
Chapter 4 Part 1

2. 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

3. Check
4-1 Figure writing a check

4. Deposit Slip
4-2 filling out a deposit slip

5. 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

6. 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 check- check with a future date on it, do not write one
Example 4-2

7. Check Register