Check Lingo A personal check is a written form that states a written amount to withdraw directly from the payer’s account.

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Presentation transcript:

Check Lingo A personal check is a written form that states a written amount to withdraw directly from the payer’s account.

Check Lingo A payee is a person to whom money is owed to (receiving) A payer is a person who pays money (giving)

Check Lingo  A routing number is a nine digit magnetic code that identifies the financial institution who must pay funds. (the payer’s bank)  A bank account number identifies the payer’s bank account.

Check Details This is the Routing Number for your bank (used for electronic transfers of funds from your account to the payee’s account) This is your Account Number. (Note that sometimes these two numbers are the reverse of what is shown here.) This is just your check number again (see above right). Here is where you write the name of the party you are writing your check to (the payee). Be sure to write or print legibly! On the lower line, write out the amount like this. Legibly print the amount of money this check is for. Enter the date you write each check. Place to add any information you want to related to this check. Put your personal signature here. Make sure your personal information on the check is correct. Here is the number of this Check. 115-F Click the numbers

#100 5/14 Fine Foods - Groceries D W5/12 5/ Deposit to Checking Bought new checkbooks (Class Example) (1)Opened a new checking account and made a opening deposit of $ into account on May 12. No prior balance. (2)Paid $20.00 for new checkbooks on May 12. (3)Paid $23.11 for groceries at “Fine Foods” using check #100 on May 14. (4) Withdrew $40.00 from your bank’s ATM on May 15. (5) Paid your cell phone bill online for $55.00 on May 16. ATM 5/15 ATM Withdrawal BP BP 5/16 Cell Phone Bill (online)