PPT-Managing Your Money with a Checking Account

Information taken from financeintheclassroomorg Why Do You Want a Checking Account Money is kept safe A record is kept of what you spend and what you earn You gain interest on the money you put in the bank. WHAT YOU NEED TO KNOW?. Presented by: Kellie Crawford. June 20, 2013. BASIC DEPOSIT ACCOUNTS. Free checking. Non interest bearing checking. Fee driven . checking. Interest bearing checking. Interest bearing checking with requirements. Let’s look at some of the services offered by banks…. Savings Account. : Pays interest, has no maturity date, and from which funds can be withdrawn at any time without penalty.. Checking Account. Parts of a Check. 7. 8. 9. Date line. P. ayee. Numeric amount. Written amount. Memo. Signature. Check #. Bank routing and account #’s. Checking Account Terms Review. Check. Canceled check. Overdraft. Personal Finance. Objectives. To be able to write a check. To record a check and a debit in a checking . account register. Do Now:. What is the difference between a checking and a savings account?. When Shopping for a Checking Account look for:. Opening an Account. Writing Checks. Keeping Records. Endorsing Checks. Reconciling. 21. st. Century Banking. Chapter 29 Checking Accounts. Opening an Account. Writing Checks. Keeping Records. Endorsing Checks. Credit Unions and Banks. For-profit companies owned by shareholders. Not-for-profit institutions owned and controlled by their own customers, who are known as members. Managed by a paid board of directors elected by the bank’s shareholders. Checking Accounts. Checking account-. an. . account where the holder can write checks; draw less interest. Withdrawal. - . amount of money taken out of an account.. Overdraft. -a check is written for more money than is currently in the account. If the bank refuses to cask the check, it’s said to have bounced. Fees are subject to change. For updates: call us at (760) 352-1540, option 0, visit cu.com or write to us at First Imperial Credit Union, Attn: Member Services, P.O. Box 3247, El Centro, CA 9224 01/15 MECU OF BALTIMORE, INC.7 East Redwood StreetBaltimore, MD 2120224/7 AccessTelephone Teller: 410-727-6540Online Banking: MECU.comLending Center: 800-373-2914 Checking or Money MarketPress 1Depo The Benefits of Reading Books The Benefits of Reading Books The Benefits of Reading Books How Do People Gain Access to Money They Keep in the Bank?. Checking Account. Write a check. EFT = electronic funds transfer. Card swipe with PIN (personal identification number). Online banking. NOTE: . . OBJECTIVES. Explain. how checking accounts work. . Complete. a check register.. Slide. . 2. . . Key Terms. checking account. check. electronic funds transfer . (EFT). payee. drawer. check clearing.