More About Checking Accounts

Why should you never leave the payee (Pay to the Order of) line blank?

• To identify the account where the funds are to be withdrawn from

• To be helpful to the person you're paying

• To prevent someone else from cashing the check

• To specify what you're paying for

What is the purpose of filling in the dollar amount in numbers as close to the dollar sign ($) as possible?

• To prevent the dollar amount from being changed

• To ensure numbers aren't transposed

• To leave as much space in the box as possible

• To avoid having to use fractions for cents

Why should you draw a line from the end of the words to the word "dollars" when writing out the dollar amount in words?

• To ensure the details are correct

• To evade hackers

• To avoid accidentally writing the wrong information

• To make it hard for anyone to change the dollar amount

What is the purpose of filling in the "For" line?

• To help you track where your money went

• To help the bank clarify the purpose of the purchase

• To help the payee know what you're paying for

• To help avoid postdating the check

Why should you sign your signature instead of printing it?

• Printed signatures are not accepted by banks.

• Printed signatures are easier to forge.

• Printed signatures are not professional.

• Printed signatures are only for authorized account holders.

WHAT is a check register?

• A summary of fees assessed to your account

• A record of interest paid on your account

• A detailed description of the legal agreement between you and the bank

• A list of transactions in your bank account, along with a running balance that tells you how much money you have available to spend

WHERE do you get a check register? (choose all correct answers)

• Build a simple register in your favorite design or spreadsheet tool.

• Grab a check register from the back of an old checkbook.

• Order a new register from an online check printer or your bank.

• Download a free template for Microsoft Excel or Google Sheets.

• Buy a register from an office supply store.

Which of the following is NOT a reason to use a check register?

• To catch identity theft

• To avoid bounced checks

• To know how much you can afford to spend

• To write down your grocery shopping list

HOW OFTEN should you update your check register?

• Monthly

• Every time you make a transaction

• Daily

• Weekly

HOW do you use/complete a check register?

• Record only deposits to your account

• Record all of your transactions

• Record only withdrawals from your account

• Record only fees assessed to your account