What do the following words mean? Real Yen Birr Rupee Bolivar Riyal Euro.

What do the following What do the following words mean?words mean?

RealReal YenYen BirrBirr RupeeRupee BolivarBolivar RiyalRiyal EuroEuro

Currency=MoneyCurrency=Money Real-BrazilReal-Brazil

Yen- JapanYen- Japan

Birr- Ethiopia Birr- Ethiopia

Rupee- IndiaRupee- India

Bolivar- VenezuelaBolivar- Venezuela

Riyal- Saudi ArabiaRiyal- Saudi Arabia

Euro- Spain, The Euro- Spain, The Netherlands, Italy, Netherlands, Italy, Greece, France, Greece, France, Germany, PortugalGermany, Portugal

BankingBanking

Banking:Banking:

Why use a checking accountWhy use a checking account Opening a checking accountOpening a checking account Parts of a checkParts of a check Writing dollar amountsWriting dollar amounts Write: check, deposit slip & check Write: check, deposit slip & check

registry.registry. Banks vs. Credit UnionsBanks vs. Credit Unions

Parts of a CheckParts of a Check

Mary Smith

218 Main St.

Palatine, IL 60074

Parts of a checkParts of a check

1. Name:1. Name: Personal information Personal information

of the account holder.of the account holder. NameName AddressAddress Phone NumberPhone Number

2. Payee:2. Payee: Person or company you are going to transfer the Person or company you are going to transfer the

check to.check to. Person you are paying, store, person, bill etc.Person you are paying, store, person, bill etc.

3. Written Amount:3. Written Amount: The amount of money you are giving. Written in words.The amount of money you are giving. Written in words. Thirty-oneThirty-one FiftyFifty NOT $31 or $50 NOT $31 or $50

4. Memo:4. Memo: Reason for paying Reason for paying

this check or for this check or for additional information additional information such as account such as account number when paying number when paying bills.bills.

Ex: Rent: Apt #3Ex: Rent: Apt #3

5. Date:5. Date: The day which you are paying the check:The day which you are paying the check:

10/12/0710/12/07 October 12October 12thth, 2007, 2007

6. Numeric Amount:6. Numeric Amount: The amount of money you are giving written The amount of money you are giving written

in numbers.in numbers. $36.55$36.55 $123.78$123.78

7. Routing Number:7. Routing Number: Identification number of the Bank.Identification number of the Bank. First set of numbersFirst set of numbers

8. Checking Account Number:8. Checking Account Number: Identification number of the owner’s Identification number of the owner’s

checking account.checking account. 22ndnd set of numbers. set of numbers.

9: Check Number:9: Check Number: Identification number of check order.Identification number of check order.

Each check has a check numberEach check has a check number Helps you keep track of each that is writtenHelps you keep track of each that is written It is marked twice on a check: Bottom next to the It is marked twice on a check: Bottom next to the

checking account number and in the right corner checking account number and in the right corner near the date.near the date.

10. Signature:10. Signature: Name of checking account’s owner as Name of checking account’s owner as

signed on the signature card.signed on the signature card. Line in the bottom right corner.Line in the bottom right corner.

Name that Part!Name that Part!

Mary Smith

218 Main St.

Palatine, IL 60074

Deposit SlipsDeposit Slips

1.1. Date Date 2.2. Dollar (not checks only cash)Dollar (not checks only cash)3.3. CoinsCoins4.4. CheckCheck5.5. Amount (ex. $75.47)Amount (ex. $75.47)6.6. Several, BackSeveral, Back7.7. TotalTotal8.8. Less Cash Received (money you want back)Less Cash Received (money you want back)9.9. Net DepositNet Deposit

Writing ChecksWriting Checks

PenPen Legibly (so you are able to read it without Legibly (so you are able to read it without

confusion)confusion) Signature CardSignature Card VoidVoid

Check RegistryCheck Registry

Check RegisterCheck Register

Checkbook RegisterCheckbook Register BalanceBalance RegisterRegister Check NumberCheck Number DateDate DescriptionDescription Amount of PaymentAmount of Payment

BalanceBalance Check MarkCheck Mark ReconciliationReconciliation

ReviewReview Opening a Checking Account:Opening a Checking Account:

How many forms of ID are needed?How many forms of ID are needed?

Parts of a CheckParts of a Check

Deposit SlipDeposit Slip

Deposit:Deposit: What can you deposit?What can you deposit? When do you sign a deposit slip?When do you sign a deposit slip? What does less cash received mean?What does less cash received mean? If you have many checks to deposit what do If you have many checks to deposit what do

you do?you do?

Check RegisterCheck Register Why do you need a check register?Why do you need a check register?

Type of transactions to Type of transactions to record in registryrecord in registry

ATM ATM Debit CardDebit Card CheckCheck DepositDeposit Fee’sFee’s

ReconciliationReconciliation

Use bank statement to check all Use bank statement to check all transactions made for the month.transactions made for the month. Bank statement: sent to you every month Bank statement: sent to you every month

tells you how you spent money throughout tells you how you spent money throughout the month.the month.