In this lesson, you will participate in an activity to learn about checking accounts, savings accounts and check-cashing services. You will learn the components of a check, and you will organize and enter information into a bank account register in order to determine the balance. You will balance a monthly account statement and discuss the importance of maintaining account records.
When you have finished this lesson you should be able to:
- Compare checking accounts, savings accounts and check-cashing services.
- Explain what checks, debit cards, automatic deposits, and electronic payments are and how they are used.
- Explain the importance of maintaining records of deposits, withdrawals and payments from bank accounts.
- Explain the importance of balancing bank accounts.
- Fill out and balance a bank account register.