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Opening A Debit/Checking Account Income and Money Management 2003-2004.

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Presentation on theme: "Opening A Debit/Checking Account Income and Money Management 2003-2004."— Presentation transcript:

1 Opening A Debit/Checking Account Income and Money Management

2 Advantages of a Checking/Debit Account Convenience Checks by mail Debit cards easy to carry EFT Safety Cash vulnerability Proof of Payment Cancelled check Record of Finances Check register

3 Types of Checking Accounts Regular Checking Accounts Checking Accounts with Mastercard/VISA Debit Card Interest Bearing Checking Accounts

4 Opening A Checking Account The Signature Card –Importance of the signature –Joint account First Deposit –Deposit slip

5

6 Endorsements Purpose of endorsements Placement of endorsements Types of endorsements Blank Special Restrictive

7 Endorsements BlankRestrictive Carla Borovicka For deposit only Carla C. Borovicka Special Pay to the order of Mike Gump Carla C. Borovicka

8 The Check Register Recording Deposit Checks written Withdrawals Debit Cards Bank Fees A Record of Transactions Helpful in Reconciling Your Account

9 Banking Unit Vocabulary Checkbook Check register Check stub Deposit slip Endorsement Joint account Money market rate Service charge Sharedrafts Signature card Blank endorsement Drawee Drawer float Forgery Overdrawing

10 More Vocabulary Payee Postdated check Raised check Restrictive endorsement Special or full endorsement Stopping payment Money order Bank reconciliation Bank statement Canceled check Clearing a check Clearing house Outstanding checks Bank draft Cashiers check Certified check Travelers check


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