2.  Checking accounts
 Checkbook
 Other debits
 Protecting Your Data
 Endorsements

3.  Demand deposit
 Check
 Written order to bank to pay the stated
amount to the person
 Benefits:
 Easier than carrying money
 Cancel checks – proof of payment
 FDIC – insures up to $100,000

4.  Little money
 Given blank checks
 Monthly fee
 Signature card
 Compares signature

5.  Checkbook register
 Tool used to track checking account
transactions
 Deposits
 Money added to the checking or saving
account
 Running balance
 Shows amount of money in account

6.  Automatic withdrawals
 Money deducted from account and
transferred to another party
 ATM
 Fees

7.  Check
 Legal document used to transfer money
 Payee
 Who check is to

8.  Current date
 Post-dated checks – future date
 Never leave anything blank
 Fill in extra spaces with lines or zeroes
 Sign name exactly as signature card
 Memo line is optional
 VOID – if mistake

9.  Check fraud
 Someone alters check to get data or money
 Forgery
 Signs another’s name

10.  Keep checks in safe place
 Protect pin number
 Never give out bank account number
 Use credit card over Internet
 Instead of debit card

11.  Endorsements
 Signature on back to
authorize bank to cash
or deposit check

12.  Blank
 Just a signature
 Restrictive
 Purpose of transfer
 “For deposit only”
 Special
 Being transferred to someone else
 “Pay to the order of”

13.  Automatic Deposits
 Money electronically placed in account

14.  Safety Deposit Box
 Important documents
 Safe from fire or theft
 Bounced check
 NSF – Non sufficient funds
 Over draft protection sometimes
 Stop Payment
 Banks told not to honor check

15.  Cashier’s Checks
 Check issued against bank funds
 Money Order
 Type of check used to make a payment
End