RESPONSIBLE CHECKING

PROJECT
BLOCK 6

Jordan Noll

Vocabulary
1. Checking Account- An account used for storing money that is to be spent
sooner rather than later
2. Deposit- An amount of money put into an account
3. Withdrawal- An amount of money taken out of an account
4. Check- A slip of paper used to transfer money out of an account and to a
certain person or company
5. Checkbook- A book that holds checks
6. Check Register- A chart used to keep track of every deposit, withdrawal,
or expense that needs to be factored into a checking accounts balance
7. Debit Card- a card used for withdrawing money from an ATM, also used to
pay for things
8. ATM- Automatic Teller Machine, used to deposit and withdraw money from
checking account
9. PIN- Personal Identification Number, used to confirm the use of a debit card

Purpose of Checking
Accounts

1. Why do people have checking accounts?

People have checking accounts so that they can take money out whenever
they need it. Whether they use a debit card, check, or take out money at
the ATM, the money they are using comes from their checking accounts.
Many people prefer having a savings account separate from the account
they use every day so that they can be aware of how much money they
can use and where.

2. What are 2 ways to make payments with checking

accounts?
There are many ways to make a payment with checking accounts. Some
may choose to use a debit card, which deposits the money directly from a
checking account to a company or store. Others prefer to use checks,
which are great for paying bills or giving out money for special occasions
like birthdays and holidays.

Checks

Checks are used for paying bills and giving money on special occasions. If you were
to give someone money on their birthday, you could use a check. When checks are
deposited, the money is extracted from the givers checking account.

Depositing a Check

In order to deposit a check, you have to sign the back of the check above a certain
line. Depending on where you want the money to go, you can give specialized
instructions in this space.

Then you must fill out a deposit slip with information such as the checks origin,
amount, and destination.

Debit Cards

Debit cards are used to make payments in stores and online. Instead of using cash
to pay for purchases, you can use a debit card, which takes the money directly from
your checking account.

Debit Card Tips

Dont give out your PIN number!

ATMs have a withdrawal limit, so dont plan on taking out any more than that
at a time.