Answer the question on the first slide in the space below. Then, compare your answer to the answer on the second slide. Finally, follow your teacher’s directions on how to answer the follow-up questions on the last slide.
In today's digital age, checks may seem outdated, but they still play a crucial role in certain aspects of banking. Watch the video to get to know your checks, their security features and how they’re commonly used. Then, answer the questions.
What are checks primarily used for today, according to the video?
Explain the security features that modern checks have to prevent fraud.
True or False: You instantly have access to money that you deposit into your account using a check
Now that we’ve learned about their purpose and how they work, let’s get some practice writing a check. Click the link and follow the instructions to learn how to write a check. Then, try out the assignments that follow.
Screen shot Assignment 1 here:
Screen Shot Assignment 2 here:
Screen shot Assignment 3 Here:
After mastering the art of writing checks, you might be wondering what other payment options are available in our increasingly digital world. Understanding how to use your checking account number for online transactions can offer you convenience and flexibility. Read the article up to “Where Can You Shop Online and Pay with your Checking Account?” about using checking account numbers to issue e-checks. Then, answer the questions.
Receiving a check is a common occurrence, whether it's for work, a gift, or a refund. Understanding how to deposit a check is a fundamental skill, and you have multiple options to do so. Each method has its own set of procedures and considerations, making it important to choose the one that best suits your needs. Watch the video and read the article to learn about this process. Then, answer the questions.
What is the first step you need to take when depositing a check in person at a bank?
There are moments when you write a check and hand it over and then realize that you need to cancel the payment before it’s cleared. Read this article about stop payments. Then, answer the questions.
Managing your finances requires more than just checking your balance online. One traditional yet effective tool is a check register. By maintaining a check register, you can catch errors, avoid fees, and gain a clearer understanding of your financial habits. Read the article about check registers. Then, answer the questions.
What is the primary purpose of using a check register?
Explain how a check register can help you identify bank mistakes or catch identity theft.
Now that we’ve learned the essentials of writing, depositing and tracking a check, let’s reconcile your checkbook! Follow the directions on the worksheet to complete this activity.
CALCULATE: Reconcile Your Checkbook [Answer Key]📷15 min
If you track your monthly checking account transactions manually, it’s important to compare your records with those of the bank’s to make sure you have an accurate knowledge of how much is in your account! In this activity, you will reconcile (or compare/match) a sample checkbook register and bank statement.
Part I: Definitions
Review the definitions below of the three things you need to reconcile your checkbook: **RECORD THEM IN YOURN NOTES***
Checkbook Register - Your Record of your transactions (page 2)
Note: You can access an editable version of this checkbook register here.
Bank Statement - The Bank’s Record of your transactions (page 3)
Reconciliation Worksheet - How you identify the missing transactions between the two (page 4).
Part II: Reconcile Your Checkbook
Match the Checkbook Register up with the Bank Statement.
If a transaction is in both documents → check it off in the Checkbook Register in the checkmark column.
If a transaction appears only in the Checkbook Register but NOT the Bank Statement → list that transaction in the Reconciliation Worksheet.
If a transaction appears only in the Bank Statement but NOT the Checkbook Register → add it to your Checkbook Register.
Teacher Tip: You might want to remind students that if they see a transaction like this, they should make sure it is legitimate and not a fraudulent charge!
**Print Copy in NOTEBOOK***
Which of the following methods for depositing a check requires a debit card?
A. Bank Branch
B. ATM
C. Mobile Deposit
D. All of them require a debit card
In addition to the written dollar amount, what other security feature is commonly found on modern checks to prevent fraud?
QR Codes
Digital Signatures
Microprinting
A Smart Chip
When reconciling your checkbook, what are you primarily comparing?
1 Your checkbook register to your memory
2 Your checkbook register to your online shopping history
3 Your bank statements to your credit card statements
4 Your checkbook register to your bank statements
