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Writing a Check Budgeting Lesson.

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Presentation on theme: "Writing a Check Budgeting Lesson."— Presentation transcript:

1 Writing a Check Budgeting Lesson

2 What is a check? A written, dated and signed instrument that contains an unconditional order from the drawer that directs a bank to pay a definite sum of money to a payee. In legal terms, a check is a bill of exchange where the drawee is a bank.

3 Parts of the Check

4 Parts of the Check

5 Parts of the Check

6 Parts of the Check

7 Parts of the Check

8 Parts of the Check

9 Parts of the Check

10 Parts of the Check

11 Parts of the Check

12 Parts of the Check

13 Parts of the Check

14 Voiding a Check Correction are possible with initials

15 Endorsing Checks

16 Deposit Slip

17 Deposit Slip

18 Deposit Slip

19 Deposit Slip

20 Deposit Slip

21 Deposit Slip

22 Deposit Slip

23 Deposit Slip

24 Deposit Slip

25 The Check Process Payee Depositor Writes check Gives to Depositor
Funds are withdrawn after 1-2 weeks Depositor Deposits check Funds are added to the account

26 Floating Checks (Kiting)
Writing a check without the sufficient funds The amount written on the check will not be deducted from your account

27 Check Fraud Write Checks that have insufficient funds
Create fake checks and cash them Write a check and give it to a person After check is deposited ask for a refund After check clears the bank insufficient funds will be present. Check will be void Frank Abignale

28 References

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