Deposits
What Does PIN Stand For?
Personal Identification Number
The person who receives the check?
Payee
Name 1 of the 4 things that comes with your check book
Checks
Check Register
Debit Card
Deposit Slips
Using your Fees Chart, How much would you pay in monthly fees to receive your printed monthly statement?
$4.00
What Does ATM Stand For?
Automated Teller Machine
When the payee signs their name on the back of a check to cash or deposit the check.
Endorse a Check.
How you keep track of your checking account balance yourself
Check Register
Using your fees chart, how much would you be charged for making 10 ATM charges, 7 using Local Network, 2 using Regional Network and 1 using Out of Network?
7 at N/C
2 at $1.00 = $2.00
1 at $3.00 = $3.00
Total= $5.00
Name any type of checking account
Free Interest Bearing Rewards
Senior Military Second Chance
Online Only Prepaid Cards Express
The amount of money you currently have in your checking account
Balance
When you take money out of your account. (Spelling Counts!)
Withdrawal
Using your fees chart, how much would you get charge in a month for having an online account, replacing your debit card, and over drafting twice in the month?
Basic Charge = $6.95
Replaced Card = $5.00
Over Draft x 2= $50.00Total = $61.95
Johnny is depositing 2 check, 1 worth $450.00 and the other worth $600.00
If he receives $100.00 cash. What is his total net deposit?
$950.00
Write $243.52 in Word Form Like you would on a check
Two Hundred Forty-three AND
52/100
When you match you bank statement to your check register
Reconciling
Using your fees chart, how much would you pay in fees to get a cash advance of $460.00?
Jimmy takes his piggy bank to the bank. Inside the piggy bank he has, 26 Quarters, 10 dimes, 30 nickels, 52 pennies, 6 one dollar bills, and 14 five dollar bills.
What is his total deposit?
26Q=$6.50
10Dimes=$1.00
30 N= $1.50
52 P= $0.52
6 One's=$6.00
14 Five's=$70
70+6+6.50+1+1.50+52=$85.52
Total Deposit is $85.52
Which number at the bottom of your check corresponds to you bank?
Routing Number
Emily's previous balance was $252.45
She made 2 deposits for $500.00 each
She made a withdrawal of $700.00
She received a service charge for $5.50
Her account gained $0.55 in interest
What is her current balance?
252.45+500+500-700-5.50+.55=$547.50
Her current balance is $547.50
Using your fees chart.
In one month Karen gets a basic charge for using her online bank, uses her online bank to pay 9 bills, lost her debit card and needed it replaced, wired money to her sister in Germany, and got a cash advance of $700.00. What is her total monthly charges?
Basic=$6.95
9 Bills= 9-5=4*.50=$2.00
Replace card = $5.00
International Wire Transfer = $20.00
Cash advance= $10.00
Total= $43.95
Your bank statement show a balance of $958.46, and your check register shows a balance of $997.64. If you have 2 outstanding checks, #113 for $317.48 and #114 for $172.26 as well as an outstanding deposit for $523.64. In addition your bank paid you $1.22 in interest but charged you $6.50 in service charges. Do they reconcile? If yes, what is your adjusted balance, if no, what is the difference?
Yes, both balances are $992.36
$997.64+$1.22-$6.50=$992.36
$958.48-$317.48-$172.26+523.64=$992.36