1. Bank Services

2. Electronic Banking, Checking Accounts and Check Registers

3.  Traditional – Paper checks and check register.  Electronic – allows customers to make financial transactions online.

4. 1. ATM 2. Direct Deposit/Payment 3. EFT (Electronic Funds Transfer) 4. Pay by Phone 5. Personal computer banking 6. Debit card 7. Prepaid card 8. Smart card 9. Point of Sale (POS)

5.  1. Personal checking account  Used by individuals  2. Business checking account  Often include monthly service charges based on account balance or # of checks written

8.  Typical charges may be:  Find the monthly service charge for a business that has an average balance of $1850 and has written 58 checks. Average BalanceMaintenance charge per month Per-Check charge Less than $500$12.00$0.20 $500 - $1999$7.50$0.20 $2000 - $4999$5.00$0.10 $5000 or more00

9.  On the back of the check:  1. Restricted endorsement: Specifies “for deposit only” along with signature  2. Blank endorsement: signature only.  3. Special endorsement: used to transfer check to another person/company. “Pay to the order of ___” along with signature.

10.  1. Endorsement  2. Date and bank where deposited.  3. Date and bank where debited (deducted) from payer’s account.  NOTE: checks are typically no longer returned, but an electronic image is stored with the bank!

12.  Use the check stub to find the balance forward. Check number 3502 is made out on April 4 to City Hall for $273.28. the balance brought forward was $6750.17 and deposits of $1876.22 and $879.65 have been made since that last check was written.

13.  Subtract from balance:  Debits  Withdrawals  Checks written  Add to balance:  Credits  Deposits  EX: P 191 #20