Your Path to Financial Stability

Important Terms

Payee: The party that receives the check.

Payor: The party that writes the check (to the payee).

Check Register: A booklet that is used to keep a record of all your checking related transactions, including checks written and deposits.

Endorse a Check - Check Endorsement: When the payee signs their name on the back of a check to cash or deposit the check.

Balance: The amount of money currently in your checking account.

Non-sufficient Funds: When you write a check for more money than you have in your account.

Minimum Balance: The minimum amount of money required in your account. Having an amount less than the minimum balance may result in extra service charges or reduced privileges.

Direct Deposit: the electronic transfer of a payment directly from the account of the payer to the recipient's account.

How to Read a Check

This information will be printed on your checks. 1. 2. Your Name 1001 Your Address City, State, Zip Code Date _____________ Pay to the order of ______________________________________ $ __________________________ _____________________________________________________________________________ dollars Bank’s Name Address City, State, Zip Code For ____________________________________ ____________________________________ 01 23 45 6 7 00 00 0 02 8 16 09 10 01 3. 4. 5. 6. 1. Your personal information:

Name, Address, City, State and Zip Code You can include your telephone number if you want 2. The number of the check(1001, 1002, 1003, 1004, etc.) This number is also printed in the last line. 2. Your bank’s information: Name, Address, City, State and Zip Code 4. Your bank’s routing number This number identifies the bank. 5. Your bank account number 6. The check number (same as #2)

How to Write a Check

This is the information you write on a check. Your Name 1001 Your Address 16-123/4567 City, State, Zip Date ______1_____ Pay to the order of _____2_____________________________________ $ __3______________ 4__________________________________________________________________________ dollars Bank’s Name Address City, State, Zip For _5___________________________________ 6__________________________________ 12 3 4 5 6 7 0 0 0 0 0 0 0 01 6 09 3 8 2 9 3 8 7 1 0 0 1 What to write: Example: 1. Write the date: month, day, year. August 5, 2006 or 8/5/06 2. Write the name of the person or

business that gets the check. ABC Store 3. Write the amount of the check in

numbers $21.28 4. Write the amount of dollars in words. twenty-one

Write the amount of the cents in numbers. 28/100 Draw a line to the word “dollars.” twenty-one and 28/100----

5. Write a note to remember what

the check was for. party supplies 6. Sign your name. Your Name

Debit Cards

Printed on the front of your debit card you will find:

• The Debit Card Number

This 16-digit number is unique to your card. It is different from your checking account number.

• The Issue Date

This is the date your debit card was issued

• The Expiration Date

Your card can only be used until this date. A new card will be automatically sent to your address prior to the expiration date

• A Visa® or Mastercard® Logo

This symbol means that you can use this card wherever Visa® or Mastercard® debit cards are accepted, for example, department stores, restaurants, and online.

• Owner’s Name

The name of the Cardholder/account holder.

On the Back of the Debit Card you will find:

• The Customer Service Number

Call this toll-free number when you questions about your account.

• The Signature Bar

For your protection against fraud, be sure to sign here as soon as you receive your card

• The Card Verification Value

This number is unique to your card. When you use your card to make purchases over the phone or Internet, some merchants may require you to supply this number to confirm that you have the card with you.

• The Network Logos

The logos that appear on your card indicate where it can be used.

• Merchants accept different types of networks. Some may accept Visa and MC but choose not accept other types of cards. Always look out for the signs so you aren’t stuck unable to pay for your goods.

Filling Out A Deposit Ticket

Account number This number ensures that the money is deposited in the correct account. If you do not have your account number with you, your bank can provide the information to you.

Your information Your name is pre-printed or written in.

Date You will write today’s date here.

Cash If depositing cash, you would write the amount here.

Checks If you are depositing checks or money orders, you would list each one separately here and continue on the back if more space were needed.

Subtotal You will add the cash and check amounts and write the total amount being deposited here.

Less cash received If you are at the bank, you would use this space to write the amount of cash you would like to get back from the checks you are depositing. The teller will ask you to sign the deposit slip and provide identification to confirm that you are the account holder.

Total You will subtract the amount, if any, on the line “Less Cash Received” from the Subtotal, and write the total amount being deposited here.

Signature line The teller will ask you to sign the deposit slip and provide identification to confirm that you are the account holder, if you are withdrawing cash from your deposit.

Keeping Track of Your Checks

Your bank will give you a check register with your checks. Use the register to keep track of the checks you write. Use it to keep track of the deposits you make. Use it to keep track of how much money is in your account. Debits: When you write a check, record it in your check register. ( - ) Write the amount under the payment, or debit, column. Subtract this amount from your balance. If you pay a fee per check, remember to subtract that, too. Credits: When you make a deposit, record it in your check register. ( + ) Write the amount under the deposit, or credit, column. Add this amount to your balance.

Check Register

Check No. Date Description of Transaction Payment

(Debit) Fee Deposit (Credit) Balance

577.80 3308 6/10/06 Northern Electrics 83.46 .25 - 83.71 May electric bill 494.09 6/12/06 Deposit 100.00 + 100.00 birthday money 594.09 3309 6/15/06 Anne’s Shoe Shop 29.80 .25 - 30.05 shoes for Jennifer 564.04 6/17/06 ATM withdrawal 20.00 1.00 - 21.00 lunch with Judy 543.04 3310 6/17/06 ReLini’s Salon 29.00 .25 - 29.25 hair color 513.79

Your Turn to Practice

Write in these transactions on the check register. 1. On June 20 you make a deposit of $324.00. 2. On June 21 you write a check to The Gas Company for $34.02. 3. On June 28 you buy a video from Sam’s Videos for $20.43.

What is your balance now? __________________________

Let’s Practice

1. You Get Paid. A $500 Direct Deposit is placed in your checking Account. 2. Your Electric Bill Is Due. Write a Check for 79.38. 3. You Go Grocery Shopping. Swipe your debit card for $53.18. 4. HAPPY BIRTHDAY!!!! Your Mom gives you a check. Write a Deposit Ticket

and take it to the bank to make a deposit.

5.Your Utilities are due. Go online and have $67.95 debited from your account.

6. Time to Pay the rent. Write a check for $300.

7. You go to the movies with your friends. You use your debit card for tickets, popcorn, and drink, in the amount of $19.61. How Much Do You Have In Your Account Now?

Your Name

Your Address

City,State,Zip

No. 1234

Date 8/31/2015

Pay to the Order of John Doe $ 100.00

One-Hundred & 00/100 -------------------

For Happy Birthday Mom