1. CHECKING ACCOUNTS EQ: What is the purpose of a checking account?

2. TIPS FOR WRITING A CHECK ALWAYS USE INK!!!ALWAYS USE INK!!! DATE THE CHECK FOR THE DAY IT IS WRITTEN/SIGNEDDATE THE CHECK FOR THE DAY IT IS WRITTEN/SIGNED NEVER WRITE A “BLANK CHECK”NEVER WRITE A “BLANK CHECK” –ALWAYS WRITE THE NAME OF A PERSON OR COMPANY WRITE THE AMOUNT PAYABLE CLEARLYWRITE THE AMOUNT PAYABLE CLEARLY USE THE MEMO SECTION FOR NOTES!USE THE MEMO SECTION FOR NOTES!

3. USING A CHECK REGISTER KEEP TRACK OF ALL TRANSACTIONS AND DOCUMENT THEM IN A TRANSACTION OR CHECK REGISTER (LOG)KEEP TRACK OF ALL TRANSACTIONS AND DOCUMENT THEM IN A TRANSACTION OR CHECK REGISTER (LOG) SOMETIMES TRANSACTIONS DO NOT POST ON THE SAME DAY AND YOU COULD EASILY OVERDRAW YOUR ACCOUNTSOMETIMES TRANSACTIONS DO NOT POST ON THE SAME DAY AND YOU COULD EASILY OVERDRAW YOUR ACCOUNT DOUBLE-CHECK YOUR LOG WITH YOUR BANK STATEMENT OR ONLINEDOUBLE-CHECK YOUR LOG WITH YOUR BANK STATEMENT OR ONLINE

4. INTEREST A PERCENTAGE EARNED BASED ON THE AMOUNT OF MONEY IN AN ACCOUNTA PERCENTAGE EARNED BASED ON THE AMOUNT OF MONEY IN AN ACCOUNT –MORE COMMON WITH SAVINGS ACCOUNTS WHEN YOU MARRY, CONSIDER A JOINT BANK ACCOUNT, THIS COULD PAY YOU MORE IN INTERESTWHEN YOU MARRY, CONSIDER A JOINT BANK ACCOUNT, THIS COULD PAY YOU MORE IN INTEREST INTEREST IS A FORM OF INCOME AND INTEREST EARNED OVER $1 MUST BE REPORTED TO THE IRSINTEREST IS A FORM OF INCOME AND INTEREST EARNED OVER $1 MUST BE REPORTED TO THE IRS

5. MAKING A DEPOSIT ONLY ENDORSE (SIGN) A CHECK JUST BEFORE YOU MAKE A DEPOSITONLY ENDORSE (SIGN) A CHECK JUST BEFORE YOU MAKE A DEPOSIT DIRECT DEPOSITDIRECT DEPOSIT –AN ELECTRONIC TRANSFER OF YOUR PAYCHECK INTO AN ACCOUNT –CAN BE SAVINGS, CHECKING, OR BOTH –MAY GIVE YOU ACCESS TO YOUR PAYCHECK –ELIMINATES TO NEED TO GET TO THE BANK BY A CERTAIN TIME –PREVENTS CHECKS FROM BEING STOLEN

6. OVERDRAFT OCCURS WHEN YOU SPEND MORE MONEY THAN YOU HAVE IN YOUR ACCOUNTOCCURS WHEN YOU SPEND MORE MONEY THAN YOU HAVE IN YOUR ACCOUNT BANKS AND CREDIT UNIONS WILL CHARGE A FEE FOR EVERY TRANSACTION THAT EXCEEDS MONEY IN YOUR ACCOUNTBANKS AND CREDIT UNIONS WILL CHARGE A FEE FOR EVERY TRANSACTION THAT EXCEEDS MONEY IN YOUR ACCOUNT OVERDRAFT PROTECTION…OVERDRAFT PROTECTION… –AVAILABLE TO PEOPLE WITH A CHECKING AND SAVINGS ACCOUNT AT THE SAME BANK –MONEY IS AUTOMATICALLY TRANSFERRED FROM SAVINGS TO CHECKING TO COVER THE AMOUNT OF THE TRANSACTION

7. HOW TO WRITE A CHECK… WRITE A PERSON/COMPANY’S NAME HERE 123.45 Place Signature Here ONE HUNDRED TWENTY-THREE AND--------------------------45/100 ACCOUNT # OR REASON DATE CHECK IS SIGNED

8. WRITING A CHECK… FILL-IN THE FOLLOWING: -TODAY’S DATE -PAY TO DCTS -IN THE AMOUNT OF $36.50-SIGN YOUR NAME

9. WRITING A CHECK… FILL-IN THE FOLLOWING: - TOMORROW’S DATE -PAY TO COMMERCE BANK -IN THE AMOUNT OF $600.00 -SIGN YOUR NAME

10. DEPOSIT SLIPS OPEN WORD DOCUMENT & PDF FILE