Working With Checking and Savings Accounts - The Homer Fund

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1. To make a deposit is to: ❏ a. withdraw money from your account. ❏ b. leave money in a safe place. ❏ c. put money into your account. SELF-ASSESSMENT 3 2. To endorse a check is to: ❏ a. deposit a check into your account. ❏ b. sign the back of a check that is made out to you to release the funds. 3. A ____________ endorsement is the safest way to ensure that a check may only be deposited into your account. ❏ a. blank ❏ b. specific ❏ c. transfer How did you do?: 1.c 2.b 3.b 12
Writing a Check If you have a checking account, you can write checks. Checks are used for paying bills and making purchases when you do not want to use cash. Checks allow you to use the money in your account to pay for things without having to withdraw cash. Sylvia Howard 123 Any Street Anytown, USA 12345 Date___________________ Pay to the order of__________________________________________________$ Carletta Stevens 4 1 11/19/01 123 00-123/100 2 3 Twenty-four & 33 /100 ––––––––––––––––––––––– 24.33 __________________________________________________________________Dollars Study Objectives Underline/highlight the answers to these questions as you read: 1. What are checks used for? 2. How do you write a check? 3. What is forgery? 4. What are some ways to prevent forgery? 6 Babysitting For_______________________________ 5 Sylvia Howard ___________________________________ :123456789: 0123456789 || 0123 1. Write the date. 2. Write the name of the person or company you are paying. 3. Enter the dollar amount of the check in numbers (e.g., $24.33). 4. Write out the dollar amount of the check in words. Follow the dollar amount with the number of cents written as a fraction over 100. If there are no cents, you can write 00/100. Draw a line from the end of your writing to the end of the line so that there is no room for anyone to insert words or numbers. 5. Sign your check the same way you signed your signature card. 6. Write the purpose of the check. If you are paying a bill, you may also want to write your account or invoice number here. 7. If you make a mistake writing a check, you may need to write a new one. In this situation, write VOID in large letters across the incorrect check to ensure that no one can cash it. Then tear it up and throw it into the garbage. 7 Sylvia Howard 123 Any Street Anytown, USA 12345 Date___________________ Pay to the order of__________________________________________________$ 123 00-123/100 ––– VOID ––– __________________________________________________________________Dollars For_______________________________ ___________________________________ :123456789: 0123456789 || 0123 13
Page 1 and 2: Personal Financial Skills: WORKBOOK
Page 3 and 4: Introduction . . . . . . . . . . .
Page 5 and 6: 2 1. When you want to purchase some
Page 7 and 8: Earning Interest A financial instit
Page 9 and 10: Opening an Account When you decide
Page 11 and 12: SELF-ASSESSMENT 2 1. To open a chec
Page 13: Endorsing a Check Endorsing a check
Page 17 and 18: Using a Check Register A check regi
Page 19 and 20: Reading Your Account Statement At t
Page 21 and 22: Balancing Derek’s Checkbook Exerc
Page 23 and 24: Check Register Date Check # ✓ Des
Page 25 and 26: Saving with Direct Deposit Once you
Page 27 and 28: If you report your card missing:
Page 29 and 30: When you write a check, your accoun
Page 31 and 32: To review the concepts discussed in
Page 33 and 34: Using Keisha’s Check Register Exe
Page 35 and 36: 4. Write the following checks: Your
Page 37 and 38: Account statement - This is a recor
Page 39 and 40: Federal Deposit Insurance Corporati
Page 41 and 42: Stop payment - An order by a custom
Page 44: 4000 Wisconsin Avenue, NW North Tow

Working With Checking and Savings Accounts - The Homer Fund

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