How to Write a Check. WRITING A CHECK Maintaining a Checking Account.

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How to Write a Check

Transcript of How to Write a Check. WRITING A CHECK Maintaining a Checking Account.

Page 1: How to Write a Check. WRITING A CHECK Maintaining a Checking Account.

How to Write a Check

Page 2: How to Write a Check. WRITING A CHECK Maintaining a Checking Account.

WRITING A CHECK

Page 3: How to Write a Check. WRITING A CHECK Maintaining a Checking Account.

Maintaining aChecking Account

Page 4: How to Write a Check. WRITING A CHECK Maintaining a Checking Account.

Endorsement• Ownership of a check can be transferred• A signature or stamp on the back of a

check transferring ownership• Three types:– Blank– Special– Restrictive

Page 5: How to Write a Check. WRITING A CHECK Maintaining a Checking Account.

Blank Endorsement• An endorsement consisting only of the

endorser’s signature• Only blank endorse when in the bank

and ready to cash or deposit• If check is blank endorsed and lost or

stolen, anyone can cash it!

Page 6: How to Write a Check. WRITING A CHECK Maintaining a Checking Account.

Endorse here

X _______________________ _________________________ _________________________

DO NOT WRITE, STAMP, OR SIGN BELOW THIS LINEReserved for Financial Institution Use

Bob Denitzio

Page 7: How to Write a Check. WRITING A CHECK Maintaining a Checking Account.

Special Endorsement• An endorsement indicating a new owner

of a check• Include the words “Pay to the order of”

and the name of the new check owner

Page 8: How to Write a Check. WRITING A CHECK Maintaining a Checking Account.

Endorse here

X _____________________________ _________________________ _________________________

DO NOT WRITE, STAMP, OR SIGN BELOW THIS LINEReserved for Financial Institution Use

Pay to the order ofBeth BucherBob Denitzio

Page 9: How to Write a Check. WRITING A CHECK Maintaining a Checking Account.

Restrictive Endorsement• An endorsement restricting further

transfer of a check’s ownership• Limits use of check to whatever purpose

is stated in endorsement–“For Deposit Only”

• Prevents unauthorized persons from cashing check if lost or stolen

Page 10: How to Write a Check. WRITING A CHECK Maintaining a Checking Account.

Endorse here

X _______________________ _________________________ _________________________

DO NOT WRITE, STAMP, OR SIGN BELOW THIS LINEReserved for Financial Institution Use

For deposit onlyPIANO MAN MUSIC

Bob Denitzio

Page 11: How to Write a Check. WRITING A CHECK Maintaining a Checking Account.

MAKING A DEPOSIT - COMPLETING A DEPOSIT SLIP

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KEEPING A CHECK REGISTER

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RECONCILING A BANK STATEMENT

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OVERDRAFTS AND BOUNCED CHECKS

Overdrafts and bounced checks occur when you complete a financial transaction (e.g., write a check) for more than what is available in the account. Your financial institution may pay the amount and charge you a fee, known as an “overdraft fee” or a “nonsufficient funds fee.”

Tip: Avoid overdraft or non-sufficient funds fees by making a habit of monitoring the balance in your checking account.

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