1. Checking Accounts

2. Types of Checking Accounts  Regular Checking  Designed for people who write a few checks each month and do not keep a minimum amount of money in the account  Interest-Bearing  Account that earns interest on the balance  Requires a minimum amount in the account at all times

3. Tools for Checking Accounts  Check / Debit Card  Can be used anywhere Visa & Mastercard are accepted  Instantly drafts payment from your account  Always sign or write “Check ID” on the back!  Check Book  Official check forms from the bank  Check Register  Used to record all checking transactions (debits, checks, deposits, transfers,, etc.)  Bank Statement  Official bank document listing all checking transactions  Emailed or mailed every month

4. Types of Checks  Personal  Certified  Cashier  Travelers Click here to learn about the difference between each type of check.here

5. Elements of a Check  Drawer : the owner of the account & the person who signs the check  Payee : the person to whom the check is written  Drawee : the bank or financial institution that pays the check

6. Cashing Checks  Endorsing a check is signing off that you are the payee listed  Sign the line on the back of the check when you cash or deposit it  You can also sign over a check to another payee ENDORSE CHECK HERE X_____________________ ______________________ ______________________ ______________________ ______________________ ______________________ ______________________ DO NOT SIGN / WRITE / STAMP BELOW THIS LINE -------------------------------------------------------------------

7. Parts of a Check Today’s Date Name of Payee Amount Amount Spelled Out In Words PurposeSignature Name & Address of Bank

8. Writing Personal Checks  Use checks in order by number  Always use the current date  Write the payee’s name clearly on the line labeled Pay to the Order Of  Write the amount to be paid in numeric figures after the printed dollar sign $  Spell out in words the amount to be paid clearly on the line below the payees name  Indicate the purpose of the check on the line labeled For  Sign your check

9. Tips for Writing Checks  Write checks in ink  Only write checks if you have enough $$$ in your account to cover it  Use the current date  Always fill in the amount  Void checks on which you make an error  Record every payment in your check register, including EFT

10. Caution! If you are not careful with your checking account, you might incur service charges from the bank!  Overdraft – using more debits or writing more checks than the money available in your account  Stop Payment- an order for a bank not to cash a particular check or set of checks

11. Reconciliation  Process of comparing your check register to your monthly bank statement  Verify that starting and ending balances match

12. THEMINT.ORG Follow the directions to practice writing checks and learn how to track your checking account! How to Write a Check

13. HOW TO COMPLETE A DEPOSIT SLIP Watch the video on how to complete a deposit slip and then practice!

14. THEMINT.ORG Follow the directions to practice writing checks and learn how to track your checking account! How to complete a check register