Copyright © 2008 Delmar Learning. All rights reserved. Unit 7 Communication Skills.
Copyright © 2008 Delmar Learning. All rights reserved. Chapter 14 Banking.
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Transcript of Copyright © 2008 Delmar Learning. All rights reserved. Chapter 14 Banking.
Copyright © 2008 Delmar Learning. All rights reserved.
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Objectives
• Review the learning and performance objectives for this chapter
• By the end of this chapter, demonstrate the procedures in the textbook and the job skills in the workbook
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3
Heart of the Health Care Professional
• Service– Knowledge of financial transactions can assist
the patient when payments are made.
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4
Financial Institutions
• Bank
• Credit Union
• Savings and Loan Association
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Financial Institutions
• Receive deposits
• Lend money– Loans, credit lines, financing
• Other services– ATM banking– Safe deposit boxes
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6
Accounts
• Savings account– Interest-bearing account– Deposits and withdrawals
• Checking account– Types of checking accounts
• Individual or joint• Business or commercial
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7
Accounts
• Checking account– Electronic funds transfer system
• Preauthorized automatic transfers• Employees’ pay
– Pay-by-phone system• Automatic transfer of funds
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8
Accounts
• Checking account– Automatic bill paying
• Substitute for check writing
– Point-of-sale banking system• Use of debit card• Instant transfer of funds
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9
Checks
• Written order for a bank to pay money
• Concerns three parties:– Drawer/Payer
• Orders bank to pay
– Drawee/Bank• Where money is deposited
– Payee • Receives the money
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Checks
• Negotiable– Legally transferable by endorsement
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Checks
• Negotiable– Requirements
• Written• Signed by drawer• Unconditional order for specific amount• Payable to bearer• Payable on demand or definite date• Written to payee
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Checks
• Types of checks:– Cashier’s – Certified – Counter – Electronic
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Checks
• Types of checks:– Limited – Money Order– Traveler’s – Voucher – Warrant
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Checks
• Check fraud prevention– Intent to defraud– Use caution– Ask for identification
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Checks
• Check endorsements– Blank endorsement
• Payee signs name on back
– Restrictive endorsement• “For Deposit Only”
– Full endorsement• Third-party check
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18
Bank Deposits
• Prepare a bank deposit– Procedure 14-1– Figure 14-3
• Banking by mail
• Direct deposit program
• After-hours deposits
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20
Automated Teller Machines
• Basic rules of precaution– Complete deposit slip ahead of time– Park in well-lit area near walk-up ATM– Pull close to drive-up ATM– Select PIN carefully
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Automated Teller Machines
• Basic rules of precaution– Do not disclose PIN– Protect your PIN– Avoid ATM with new equipment– Retain the receipt
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Automated Teller Machines
• Basic rules of precaution– Keep account information confidential – Use an indoor ATM at night– Never count/display money at the ATM– Never accept offers of help
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23
Automated Teller Machines
• Basic rules of precaution– Put away cash, card, and receipt– Leave immediately – Know withdrawal limit– Track your account balance– Call 911 in emergency
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24
Checkbook Management
• Use the checkbook register– Record debits (checks written)– Record credits (deposits)– Prevent overdraft
• Check writer machine– Imprints amount
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25
Checkbook Management
• Write a check using proper format– Procedure 14-2
• Banking on-line– Internet browser– 24/7 access to services– E-mail communication with bank
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Checkbook Management
• Payment disputes– “Paid in full” notation
• Is it really paid in full?• Conditional endorsement
– Stop payment orders
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27
Checkbook Management
• Check-writing errors– Not sufficient funds (NSF)– Misdated checks– Incorrect payee’s name– Missing payer’s signature
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28
Checkbook Management
• Check-writing errors– Variable amounts
• Numerical and written amounts should agree
– Third-party checks• Office policy
– Forged checks
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29
Bank Statements
• Compare monthly with register– Deposits– Checks written– Service charges
• Bank statement reconciliation– Example 14-3– Figures 14-5 and 14-6
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30
Bank Statements
• Balance differences– Omission of check written– Omission of deposit– Incorrect amount– Math errors
• Reconcile a bank statement– Procedure 14-3
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31
Stop and Think
• Determine what types of checks to write– Review the scenarios– Study the differences in types of checks and
determine the type of check you should obtain for payment and state your reason