CREATIVE LIVING PG. 311 Write the answers on the back of the
worksheet on the middle table Get a pair of scissors
Slide 2
MAKING PAYMENTS: *WRITING A CHECK *USING A DEBIT CARD
*BALANCING A CHECK REGISTER
Slide 3
The Checkbook Contains: Checks Deposit slips
Slide 4
WRITING CHECKS
Slide 5
WHEN WRITING A CHECK: Your telling your financial institution
to take a certain amount of money out of your account. You should
be careful to write checks correctly to avoid costly and
embarrassing mistakes. A blank check has a space for quite a bit of
information. When you write a check, you will want to fill in each
of the spaces correctly.
Slide 6
TIPS FOR WRITING A CHECK: Always use ink. Date the check the
day it is written, even if it s Sunday or a holiday. Do not
postdate a check, financial institutions will not cash a check
before the date that is written on the check. Most businesses will
not accept a postdated check as payment.
Slide 7
WHO IS THE CHECK FOR? In the blank after the words Pay to the
order of write the name of the payee. Spell it correctly, and do
not use any abbreviations that may cause confusion. Write a check
to the person beside you
Slide 8
HOW MUCH IS THE CHECK FOR? Record the amount of money to be
paid clearly in the space after the dollar sign. Never leave a
space between the dollar sign and the numerals (this may allow
someone to alter the amount). Write the check in the amount of
$1729.32
Slide 9
WRITE AMOUNT IN WORDS On the next line, write out the amount of
dollars in words. Then write the word and, followed by the number
of cents written as a fraction of 100. Start with writing at the
extreme left of the blank. Fill in any leftover space with a
line.
Slide 10
WRITE YOURSELF A NOTE Most checks have the word for or memo and
a blank in the lower left-hand corner. You do not need to fill in
this blank, but doing so will help you keep clearer records. When
you write a check for a purchase, make a note of what you have
bought.
Slide 11
SIGN IT! Finally, there is a blank for your signature. Always
use the same signature you filed with your financial institution.
Be sure you have written the name of the payee and the amount to be
paid before you sign the check.
Slide 12
DON T FORGET Immediately after writing a check, make a note of
it in your check stub or in your register. Write the check number,
the date, the payee, and the amount in your register. This is
necessary for complete and accurate records. never cross out or
change a check once it has been written If you make a mistake,
print VOID across the incorrect check and write a new check
Slide 13
Electronic Banking ATM transactions Debit card transactions
Electronic bill pay
Slide 14
Debit Card A debit card lets you: Be careful! Deposit and
withdraw money Make purchases at retail locations The money is
immediately taken out of your account
Slide 15
Electronic Bill Pay Automatically pays your bills from your
account No postage No late payments Also pay bills online
Slide 16
Add Money to Your Checking Account Cash or check deposit using
the teller service ATM deposit Deposit by mail Direct deposit
Slide 17
Sign the Back of the Check
Slide 18
Deposit Slip- label the parts 3/22/20XX Deposit your paycheck
for 789.52 You want $100 in cash Add this transaction to your
register
Slide 19
ATM Deposits Like an ATM withdrawal Use the special deposit
envelope Take the receipt
Slide 20
Direct Deposit Directly into your checking account Your money
is available immediately
Slide 21
Bad or NSF Check A check you write when there isnt enough money
in your checking account to cover it Also called a bounced
check
Slide 22
Bad check fees Negative activity reported Bank closes your
account Civil and/or criminal prosecution Merchants may not accept
your checks Your credit may be impacted
