Banking DefinitionBanking is the business conducted or services offered by a bank. To the right is a video on basic banking if you want to find out more about the topics that i am covering.
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Credit Cards
The credit card is a small plastic card issued by the bank, business, etc. allowing the holder to purchase goods and services on credit.
Checking Accounts |
Transactions |
A checking account is an account at a bank against which checks can be drawn by the account depositor.
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Transactions are taking or putting money in our out of a checking account. For example, say you needed to buy a present for your child's birthday, but didn't have any money on your credit card at that time. You would go to an ATM (see definition below), access your checking account, and get the amount of money that you need. These can be done physically and online as well.
ATM'sAutomated-Teller-Machines are very convenient machines that you can use to get cash out of your account in case you need it. There is a limit, though, to how much you can take out of your account in a certain period of time.
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Step 1: Put your name in the upper left corner of the check.
Step 2: Add the date to the right of your name on the open line with the /2, and add the checking account number on the line below the name line. Make sure these are not wrong before you give it to the bank, or else your check will be wasted.
Step 3: Put who you are making the check out to on the big line.
Step 4: Sign your name in the lower right.
Step 6: Put what the check is for in the memo line.
Step 7: In the box or line next to the line where you put who the check is for, put the amount of money you are giving.
Step 8: Finally, write out on the line below the person or company you are making the check out to the amount of money written in cursive. Once you are done with that, if there is extra space on the line, draw a line to the end so the amount can not be messed or tampered with. Speaking of people messing with your checks, it is also important that you write in pen to prevent erasing, and if you mess up, either create a new check or cross the error out and correct it.
Credit Unions
Credit unions are non-profit organizations whose members can borrow from pooled deposits at varying interest rates.