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Banking
Chapter 3, Section 2 (page 55)
Fraud
• Alter purchases you made legally
• Ask for your information
• Mail, phone, and email
• Send you stuff and have you forward it
• Steal your Credit / Debit Card Number
• Steal your identity
Writing Utensil
• Blue / black normal pen
• Gel pens may not read
• Colors may not show up on digital scans
• Safety pens
• Ink is absorbed into the check and cannot be ‘washed’ off
• Online: Only enter information into trusted / researched
companies
• Check your statements closely
• Be careful who you hand a debit card to and where you use it
Responsible Banking
• Keep your checking account balanced
• Know how much money you have or could cost you
• Overdrafts are a sign of crisis living and sloppy, lazy money habits
• Use duplicate checks if need be
• Most will be digital so find a good app that you like
• If not managed the debit card is certain to become a budget
buster
Deposit
2
Exercise 5-C, Page 62
6
1
Today’s date goes here
Print Your Name Here
3
Print
Your Address Here
4
Sign Your Name Here
5
3 33 3 3 3 3
Click the numbers
5-E-1
7
x
125 0 9
3 75 2 5
500 3 4
75 0 0
4 25 3 4
Complete Exercise Handout
5-E-2
Deposit
Exercise 5-C, Page 62
x
Mrs. Catalano
1001 S. Barnes Rd Mason MI
60 3 1 3 0 0 4
5-E-3
50 0 0
31 4 67
5 01 2
414 7 9
2500
389 7 9
Endorsing Checks
• Endorsement: Signing your approval for a check to be chased
• Blank: Sign your name
• Restrictive: Make sure deposited only in your account
• For Deposit Only, Sign Name, Account #
• Special: Give check to someone else
• Pay to the order of, Their name, Sign
Practice
• Handout with Endorsement and another Deposit
Check Practice
Check
Details
Click the numbers
1
2
3
4
5
6
7
8
9
10
11
Enter
Put
Here
your
just
the
personal
date
number
you
check
signature
write
ofNumber.
this
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each
Check.
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right).
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This
Legibly
Place
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isisthe
sure
to
lower
where
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your
print
add
Routing
your
Account
line,
the
any
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personal
amount
information
write
write
Number
out
the
of
information
the
money
name
for
you
(Note
amount
your
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the
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like
check
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iselectronic
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orthe
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John M. Smith
5-F
Practice Writing a Check &
Recording
• Handout Start with $416.68
• 1st Check # 234
• For Shoes to Robinson’s Department Store, $47.93
Keep a Record
Click Here
1
2
Finish recording transactions
3
Last Balance
234
235
3/7
Robinson’s Department
Shoes
3/12 Acme Insurance – Auto
416.68
47.93
350
-47.93
368.75
18.75
274.36
5-G
Does It Balance?
1 of 2
Reconciling your checking account statements
Why reconciling is important
• Lets you check for mistakes and checks you wrote but did not enter.
• Gives you a chance to subtract other charges that the financial
institution may have added.
• Lets you add any interest that your checking account may have
earned.
5-H-1
Does It Balance?
2 of 2
Reconciling your checking account statements
Why reconciling is important
• Not all the checks you have written will always be shown, because
they may not have been cleared by your bank or credit union.
• Uncleared checks will show up on your next statement.
5-H-2
Exercise 5E: Does it Balance?
1. Add interest and other deposits made but not yet
entered in your checkbook balance sheet.
2. Subtract any service charge or other deductions
not previously entered in your checkbook balance
sheet.
3. Add deposits made but not shown on this
statement.
4. Subtract checks issued and withdrawals made but
not shown on the statement.
5-H-3
PRACTICE WITH HANDOUT
Debit Cards
HOW TO USE A DEBIT CARD
• Swipe the debit card in the card reader, or give it to
the clerk to swipe.
• Choose the “Debit” option.
• Enter your PIN number*
• Enter the amount of cash back, if desired.
• Money is taken directly out of your checking account,
so enter the amount spent into your checking ledger.
5-J
*About your PIN
About Your PIN
• PIN stands for Personal Identification Number.
This number gives you access to your account,
so it’s important to keep it secret.
• Memorize your PIN number. Do not write it down
and keep it somewhere in your wallet (where
someone could find and use it).
5-J-Extra
Using Debit Card as Credit
• Swipe the credit card in the card reader, or give it to
the clerk to swipe.
• Choose the “Credit” option.
• Sign the receipt.
• Keep and save your copy of the receipt to record later
in order to keep track of what you have spent.
5-K