1. Ms. Smith

2. 1. Choose a bank. 2. Pick the product you want (individual or joint). 3. Provide your information. 4. Agree to terms. 5. Congratulate yourself!

3.  Restrictions:  Minimum balance, and number of transactions and checks written within a month.  Fees and Charges:  Monthly service charge, check printing, and stop- payments.  Interest:  Rates, frequency of compounding.  Special Services:  Overdraft protection- automatic loan made to an account if the balance will not cover checks written.

5. 6 Elements of a Check

6.  D Date: the date the check is issued.  A Amount: this is the amount of money to be paid to payee.  M Maker: this is the person responsible for the amount shown above.  P Payee: this is the person getting the money.  E Endorsement: this is a signature of the person cashing or getting the money.  R Routing Number: identifies the bank the check belongs to.

7. Writing a Check For practice:  On April 10 th, you purchase a $85.99 pair of shoes from Foot Locker.

8.  Always start at the beginning (the far left) of the line.  Write clearly and only use ink.  Keep your checks in a safe place.  Make sure the amount box and the amount line match.  Keep a record of all your written checks in your check register.  Bring proper identification when writing checks.

9.  Leave blank areas on checks.  Sign a blank check or endorse your own paycheck until you are in the bank.  Throw away a check mistake. Instead, write “VOID” and tear it up.  Accept "Third Party" checks from unknown persons.

10.  When you open a checking account, you receive a check register.  This is the place to record every check you write, every ATM withdrawal you make, every debit card purchase, and every deposit that you make.

11. Sample Check Register

12. Balancing a Checkbook

13.  Each month, it is good practice to reconcile or balance the amount reported by the bank with the balance in your checkbook.  The difference between your checkbook balance and the balance reported on a bank statement is usually due to:  Deposits in transit: deposits you make after the bank has prepared and mailed the bank statement.  Withdrawals: money you take out after the bank has prepared and mailed the bank statement.  Outstanding checks: checks you have written that have not been cashed or cleared by the bank.  Service Fees: charges the bank deducts from your account.

14. 1. In your checkbook, make a checkmark in the appropriate box for each check returned or noted on your statement. In addition, also mark all ATM or other electronic transactions, and all deposits. 2. Record in your check register any transactions listed on your bank statement that were not recorded in your register. This may include ATM or debit transactions, bank fees, etc. 3. The back of your bank's statement will usually have a checking reconciliation form. Use this form to reconcile your checking account.