1. Checking Accounts/Banking Services 21.2

2. Checking Accounts Used for regular spending money and to pay bills Write checks or use debit card to spend from this account Deposit slips- filled out at bank to put money into your account

3. Types of Checking Accounts 1. Regular checking account No minimum balance Rarely earns interest Usually charged monthly fee 2. NOW account Pays interest on deposits Must keep minimum balance $500 3. Super-NOW account- interest and minimum balance are higher

4. Using your account Checks- to deposit or cash, you must endorse (sign) the back Direct deposit- an employer can put your pay directly into your account Overdraw- when you spend more money from your account than you have High fees

5. Using your account (continued) Check register- In your checkbook Used to keep track of all charges and balance Electronic funds transfer (EFT) Transfer money between different accounts electronically Online Banking Lets you manage your money from the computer Pay bills Phone Apps