Your Checking Account

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Your Checking Account

Provided by Farmers & Merchants Union Bank

What You Need to Know

Getting Started

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Learn About Checking Accounts………...

1 How to Write a Check………..……….

2 Using Your Debit Card………..……….

3 How to Record Your Transactions……….…..……….

5 Making a Deposit….……….……….……….

6 Endorsing a Check..……….………...

8 Reviewing Your Monthly Statement……….…………..

9 Balancing Your Account……….………...….……….

11 Checking Do’s and Don’ts……….……….………….

14 Glossary……….…………..

15 Practice Exercises……….……..…..

16

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Learn About

Checking Accounts

For thousands of years, people have used some sort of currency or type of money to pay for things they want. Different countries and cultures have used everything from seashells to pigs, to purchase goods and services. Today, there are four main ways to pay—

Cash, Credit Cards, Debit Cards and Checks.

Whether you have just opened a checking account or plan to in the future, this guide will give you the information you need to use a checking account.

What’s so great about a checking account?

A checking account is a transaction account that allows you to authorize the transfer of money to another person or business by writing a check. It is a deposit account for immediate use, i.e. paying one’s bills. Most customers keep money in a checking account for a shorter period than in a savings account, because checking accounts typically don’t pay interest. If they do it’s usually at a lesser rate than a savings account.

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How to

Write a Check

Writing a check is easy, with a little practice. When you write checks, always use a blue or black ink pen and write neatly. Every time you write a check, you'll fill in the following six spots.

1 2 3 4 5 6

Date: Write the date.

Pay to the Order of: Write the name of the check’s recipient. $ Amount: Write the check’s amount using numerals. When you write the number, start at the left and don’t leave space. People could add in more numbers if you do.

Dollars: Write, in words, how much the check is for. When you write the words for the dollars, start at the left side. Write any cents as a fraction (See sample). Draw a line through the extra space.

Signature: Sign your name on the signature line, just like it is on the top of the check. Don’t sign it until you use it. If you sign it ahead of time, someone else could use the check.

Memo: Note what the payment is for (See sample).

It is important to write your check legibly to make sure your check is accurately processed.

John C. Doe 1224 Golf Road Columbus, WI 53716 501 00-67890000 12345678 DATE PAY TO THE ORDER OF

$

DOLLARS Security features included. Details on back

Farmers & Merchants Union Bank

Columbus, Wisconsin (920) 623-4000 www.fmub.com

Memo

ı:075902670 1234··567ıı 0 5 0 1

Today’s Date

ABC Car Rental

_85.00

Eighty five and no /

100

rental car

John C. Doe

1 2 ₃ 4 5 6 SAMPLE-VOID 1 2 3 1

Other important information on your check you should know. Bank Routing Number

2 3

Account Number

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Using Your

Debit Card

You may apply for a debit card with your checking account. A debit card looks like a credit card, but works like an electronic check because the payment is deducted directly from your checking account.

A debit card can offer a quick and convenient alternative to writing a check. When using a debit card at a retail store, you or the cashier will run your card through a scanner that enables your financial institution to verify electronical-ly that the funds are available and approve the transaction. Most debit cards can also be used to withdraw cash at ATMs and some debit cards even allow you to get cash back at select merchants.

Your debit card purchases and withdrawals may be harder to keep track of, so make a habit of writing the transaction into your checkbook register when the transaction takes place. It is still possible to overdraw your account using a debit card, which may trigger fees. You may also incur fees when withdrawing

money from an ATM machine that is not operated by or “networked” with

your financial institution.

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When you apply for your debit card, your financial institution will either assign you a PIN number or let you choose one. This number is usually a four digit number. Your PIN number should never be given out to anyone and should always be kept separate from your debit card. Also, when you receive your debit card, be sure to sign the back immediately. Use a black or blue pen or fine tipped permanent mark-er. If your card is ever lost or stolen, contact your financial institution immediately to cancel the card.

Using Your

Debit Card

There are usually two ways you can complete a transaction using your debit card, although not all merchants may give you an option. First, it can be run as a credit. Even though it is considered a debit card, you can process the trans-action as a credit. It will still come directly out of you checking account. Most credit transactions will require your signature. The second way to complete a transaction is to run your debit card as a debit. Again, it comes directly out of your checking account, but instead of a signature, it will usually request your PIN number.

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How to

Record Your Transactions

A check register helps you keep track of the money in your checking account. That’s where you write down everything you do with your account. Whenever you deposit money or withdraw money, or use your ATM or debit card, write it in the check register immediately.

When you write something in your check register, we call it recording a transaction. So let’s take a look at a check register and how it works.

The columns in your check register are labeled. Here’s what each column is for:

1 2 3

4

6

Number: This is the check number. You’ll find it in the upper right corner of each check. Every check has a different sequential number. Date: Write the date you wrote the check.

Description of Transaction: This tells what you did. Did you deposit money? Write a check? Use the Automated Teller Machine (ATM) or debit machine? Make a telephone transfer? Describe your transaction here.

Payment/Debit: Write the check or withdrawal amount.

ABC Car Rental 85

501 6 5 4 3 2 1 NUMBER

OR CODE DATE TRANSACTION DESCRIPTION PAYMENT AMOUNT FEE AMOUNT DEPOSIT

$

5/25 00 200 00 115 00

15 00 100 00

.AD-Automatic Deposit .AP-Automatic Payment .ATM-Teller Machine .DC-Debit Card .T-Tax Deductible .TT-Telephone Transfer

$

345 15

AD

5/26

5/29 Paycheck deposit Transfer to Savings TT 360 15

7 8

5 Code for Transaction: This is where you fill in a code for transactions

you make when you aren’t writing a check. When you get your statement, every month you’ll place a “ “ through this box when you see the transaction listed.

Service Fee: A financial institution may charge you a fee for various reasons depending on the type of account you have or when you withdraw money from the ATM. Write that fee in this space.

7

8

Deposit/Credit: Did you deposit money into your account? Write down the amount of the deposit.

Balance: To find out how much money you have, add the deposited money to what you had before. Or, subtract the withdrawal amount from what you had before. The money left is your balance.

When you write a check, withdraw money from an ATM, or deposit money into your account, write it down right away. It’s easy to forget if you wait.

Codes

ATMAutomatic Teller Machine

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Making a

Deposit

You can put cash and checks into your account in different ways. When you’re ready to deposit money at your financial institution, you need to fill out a form called a deposit ticket.

You’ll find your deposit tickets in your checkbook, behind the checks. They have printing on both sides. Just like with checks and the check register, there are areas you need to complete. Use a pen to fill out the form. It is very important that you write neatly. Here are the spots to fill in on your deposit ticket.

FRONT BACK C U R R ENC Y C O U NT – FO R F INANC IA L INS TI TU TI O N U SE O NL Y X 100 X 50 X 20 X 10 X 5 X 2 X 1 T O T A L $ CH ECKS LIS T S ING LY D O LL A R S C EN TS 4

.

5 0

00 1 5

00 2 0

00 8 5

00 P

ark

er

Jo

nes

Davis

© D EL U X E H D -101 C H EC K S A N D O TH ER IT EM S A R E REC EI V E D F O R D EPO SI T S U BJ EC T TO TH E P RO V IS IO N S O F TH E U N IF O RM C O M M ERC IA L C O D E O R A N Y A PP LI C A BL E C O LL EC TI O N A G REE M E N T. CASH DEPOSIT TICKET

Today’s Date

JOHN C. DOE 1224 Golf Road Columbus, WI 53716 DATE

DEPOSITS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL SIGN HERE FOR CASH RECEIVED (IF REQUIRED)

Columbus, Wisconsin (920) 623-4000 www.fmub.com ı:075902670 1234··567ıı

+

00-6789 0000

$

_.

.

SUBTOTAL *LESS CASH RECEIVED

1 0 0 0 0

2 5 0 0

8 5 0 0

2 1 0 0 0

6 5 3 2 1

.

7 8 9

Gomez

Pratt

TO TA L M U ST B E EN TE R ED O N F R O N T S ID E

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Making a

Deposit

(Continued)

1 2 3 4 6

Date: The date you are depositing money.

Cash: The amount of cash you are depositing. Add it all together, and write it down here.

Check Entry Area: This is where you write down each check you’re depositing. Put each check amount on its own line.

Additional Check Entry Area: The back also has space for checks, if you run out of room on the front.

5 Total From Other Side: If you have more than three checks and

wrote them down on the back side, add them up and put the total here. If you are depositing three checks, this is the place you write down the third one.

Sub Total: Add items 2, 3 and 5.

7

8

Less Cash Received: If you want to deposit part of the money, and get part of the money in cash, write down how much you want to receive in cash.

Sign Here: If you want cash back, sign your name here.

9 Net Deposit: Add all the cash and all the checks together. If you are

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Endorsing a

Check

If you’ve got a job, chances are you get paid with a check. To deposit that check, you need to endorse it. That means you sign your name in ink on the back of the check. Sign your name the same way it’s written on the check. If your name is spelled wrong, also sign your name the correct way on the next line.

There are a few ways to endorse a check. Sign your name the same way

it’s written on the front of the check. Only sign it when you’re ready to cash it or deposit the money into your account. Once the check is signed on the back (endorsed), someone else could get your money if you lost the check.

BLANK ENDORSEMENT

Pay to the order of

Do this when you want to give

someone else the money. Write “pay to the order of” and that person’s name below it. Then sign your name underneath. Now only that person can cash the check.

ENDORSE HERE

DO NOT WRITE, STAMP OR SIGN BELOW THIS LINE RESERVED FOR FINANCIAL INSTITUTION USE

SPECIAL ENDORSEMENT

Jane Schmidt

John C. Doe

ENDORSE HERE

For deposit only

When you want your check to

be very safe, such as when you send it to your financial institu-tion in the mail, use this kind of endorsement. Write “for deposit only” and sign underneath. Now the check can only be deposited into your account, not cashed.

ENDORSE HERE

RESTRICTIVE ENDORSEMENT

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Reviewing Your

Monthly Statement

Every month, you’ll get a statement from your financial institution. This statement tells you:

 Every check that you wrote (the ones that have been processed physically or

electronically—see examples on next page).

 Money you took out of the ATM, transferred by telephone, or any other

withdrawals.

 All of your debit card transactions.

 All of your deposits.

 Your ending balance (how much you have in your account on the date the

statement was printed).

The envelope containing your statement may contain images of the checks you’ve written. These are the checks you’ve already written that have been cleared (paid out of your account) by your financial institution. Any checks you’ve written that have not cleared are called outstanding checks.

The purpose of your monthly statement is to give you information about your account’s activity every month. Here are the different sections:

1

2

3

4

Special Note: Your bank may include a special note pertaining to your account or any bank related information.

Account Information: Here is where you will find your account information, like the type of account you have and the account number.

Account Transaction Details: This is a detailed list of transactions that have cleared your account during this statement cycle. Including

checks, debit card purchases, ATM withdrawals, deposits, transfers, and EFT (Electronic Funds Transfer) checks.

Account Balance: This is your balance at the end of your statement cycle, based on cleared transactions. You will need this total to reconcile, or balance your checkbook (Keep in mind this number usually does not match your checkbook balance).

5 Account Summary: Here you will find the total number of credits

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Reviewing Your

Monthly Statement

6

7 Customer Service Number: Phone number of bank will be printed

either on the front or back of the statement. Call if you have any questions about your account or your statement.

(Continued)

Remember, if there is something you don’t understand about your account, call the number you see on your statement to get your questions answered by your financial institution’s customer service.

The style of statement for each financial institution may vary slightly.

1 3 4 5 6 7 2

Web Site: www.fmub.com E-mail: askfmub@fmub.com

ACCOUNT: 1234567 DOCUMENTS: 10 PAGE: 1 10/15/2012 John C. Doe 1224 Golf Road Columbus, WI 53716 ====================================================================================

Every Debit Card purchase you make between Nov. 1 and Feb. 29, 2012, you’ll automatically be entered for a chance to win a digital camera package, valued at $500.00. If you don’t have a Debit Card, apply for one today. =============================================================================================

DESCRIPTION DEBITS CREDITS DATE BALANCE

CHECK # 3882 60.00 09/15/12 2811.04 CHECK # 3884 63.60 09/18/12 2747.44 DEPOSIT 50.00 09/19/12 2797.44 CHECK # 3885 200.00 09/26/12 2597.44 CHECK # 3886 254.66 09/26/12 2342.78 CHECK # 3888 1719.98 10/03/12 622.80 CHECK # 3887 63.60 10/03/12 559.20 DEPOSIT 945.50 10/05/12 1504.70 PICK N SAVE 3889 22.10 10/05/12 1482.60

BALANCE THIS STATEMENT………..1482.60 ============================================================================================

TOTAL CREDITS (2) 995.50 AVG AVAILABLE BALANCE 1503.69 TOTAL DEBITS (7) 2397.84 AVERAGE BALANCE 1534.72

============================================================================================

YOUR CHECKS IN SEQUENCE

============================================================================================ DATE……..CHECK#...AMOUNT DATE……..CHECK#...AMOUNT DATE……..CHECK#...AMOUNT

9/15 3882 60.00 9/26 3885 200.00 10/03 3887 63.60

9/18 3884* 63.60 9/26 3886 254.66 10/03 3888 1719.98

(*) INDICATES A GAP IN CHECK NUMBER SEQUENCE

DDA ACCOUNT 1234567

=============================================================================================

Phone numbers of bank locations are on the back of statement.

Checks and Deductions: These are all the checks you wrote for the month (EFT checks do not show here). You’ll see the date, the check number, and the amount you wrote the check for. If you see dots or asterisks between or next to the check numbers, that means either your check is out of sequence, or that the check is outstanding.

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Balancing Your

Account

In this section we’ll talk about how to keep records. The first thing we’ll cover is how to reconcile your accounts. That just means you’ll see how much you depos-ited into your account, how much you spent, and how much you have left. To reconcile your account you will need to look at your check register and your statement together and compare them. Here’s how to start.

1– Open the envelope with your statement. If your financial institution sends your check images to you, they will also be in the envelope.

2—Look at the statement; find the first check number listed.

3—Look at your check register. Find that same check number and place a check mark in the column labeled (or “Code*”). Do this for every check on your state-ment.

4—Complete steps 2 and 3 above for every deposit. Check it off on your state-ment and check it off on your register.

5—If you see checks in your check register that are not listed on the statement, they have not cleared the financial institution yet. Don’t check them off. They will be listed on a future statement.

6—If you have any other service fees or charges for checks, ATM withdrawals, financial institution services, or automatic deductions (i.e. a car loan) listed on your statement, write them in your check register. Don’t forget to subtract those charges from your balance in your check register.

7—If your financial institution pays interest on your checking account, add the in-terest amount to your check register.

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Balancing Your

Account

Most of the time, your checkbook balance and the statement won’t match. That is normal. This happens because of those outstanding checks we discussed earlier and any deposits that you made after the statement was printed.

Your statement will include a reconciliation form (usually on the back). This is a form to help you reconcile your account. Just like all the other forms we’ve talked about, there are spots for you to fill in.

Usually, the reconciliation form guides you to:

(Continued)

1

2

List checks and other withdrawals that you have written in your check register, but are not listed on the statement.

Write in any deposits that you have written in your check register, but are not listed on the statement.

This Form IS Provided To Help You Balance Your Statement

Farmers & Merchants Union Bank will never ask for confidential information through regular e-mail. Further, Farmers & Merchants Union Bank will never ask you for your password or PIN through e-mail, via the telephone or in person. If someone identifies himself or herself as a Bank employee and asks you for your password or PIN, take caution. They do not represent the Bank. Do not reveal your information to them.

Before You Start

Please be sure that you have entered in your register all automatic transactions shown on the front of this statement.

You should have added if any occurred:

1. Loan advances 2. Credit memos

3. Other automatic deposits

You should have subtracted if any occurred:

1. Automatic loan payments 2. Automatic savings transfers 3. Service charges

4. Debit memos

5. Other automatic deductions and payments.

NO. $

TOTAL $

Outstanding Transactions Not Charged to Account

Balance Shown

On This Statement $____________ Deposits Not Shown

On This Statement (if any) $____________ $____________ $____________ $____________ Total Add Withdrawals Outstanding $____________ $____________ Subtract Balance

Should agree with your register balance after deducting service

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Balancing Your

Account

(Continued)

3

4

Write down the ending balance printed on the front of your statement. Enter the total withdrawals.

5

6

Add your statement balance with the deposits listed, then subtract the outstanding withdrawals.

The balance of your checkbook should match the ending balance.

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Checking

Do’s and Don’ts

14

There are a couple things you need to know about using checks. Here is the first one, and it’s a big one:

Don’t write checks for more money than you have in your account.

You might have heard it called “bouncing a check,” or “writing a bad check.” The financial institution calls it non-sufficient funds (NSF).

 You could be charged an overdraft fee by your financial institution.

 The business to which you wrote the “bad” check could charge you another fee.

 The place to which you wrote the “bad” check could decide not to take your

checks in the future.

 Your name could go on a risk check or “risk credit” list, and other businesses

won’t take your checks.

 Your checking account could be closed by your financial institution and you

wouldn’t be allowed to write any checks at all. Your financial institution may report this information to other financial institutions, and they may refuse to open a checking account for you for up to seven years after your account was closed.

 You could get letters and phone calls from the people you owe the money to.

BUT...It’s easy to keep these things from happening. Just keep track of how much money you have in your checking account, and don’t write checks for more than that amount.

Don’t sign blank checks.

They can be stolen and used by someone else.

Don’t erase mistakes on a check.

Either write VOID across the entire check

and next to its number in the check register and tear up the check, or fix the check by drawing one line through the mistake and initialing next to it.

Don’t use other people’s checks or let them use yours.

Don’t use a pencil, only use a pen.

Keep all your checks in a safe place.

Checks are money and can be stolen and

used by other people, just like cash. If you checks are ever lost or stolen, call your financial institution immediately!

Keep track of the money you take out of the ATM and any debit card

withdrawals made

—they add up quickly.

Put the right date on your checks.

Sign your name like it’s printed on the check.

Write the check amount as far to the left as you can.

THINGS NOT

TO DO

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Glossary

Automated Teller Machine (ATM): Also known as the money machine or cash machine.

Bad Check: A check that is written when there is not enough money in the account. Also known as a bounced check.

Balance: The amount of money you have in your account.

Cash: Money in the form of bills or coins.

Check: A document used for payment.

Check Register: A form to keep track of your checking account transactions.

Checking Account: A payment method to manage your money efficiently.

Cleared Check: A check that has gone through the financial institution’s processing center, has been deducted from your account, and is listed on your monthly statement.

Debit Card: A card that can be used at an ATM or merchant. Unlike a credit card, the funds are deducted from your checking account.

Deposit: The money you put into your account. Or (verb) to put money into your account.

Deposit Ticket: The form you use to put money into your account.

EFT/ Electronic Check: When you write a check to a merchant and the merchant hands the check back to you. The check is converted to an automatic deduction to your checking account.

Endorse: To sign your name on the back of a check in order to cash it or deposit it.

FDIC: Federal Deposit Insurance Corp.-an independent U.S. agency which provides deposit insurance guaranteeing the safety of a depositor’s accounts up to $250,000.

Financial Institution: A business that deals with money. For example, a bank or credit union.

Less Cash Received: The amount of cash you get back when you make a deposit.

Memo: The area on a check that notes what the check was written to pay for.

Non-sufficient Funds: See Bad Checks.

Non-sufficient Funds Fee: The fee that is charged by a financial institution or business when a check does not clear.

Outstanding Check: A check that is still going through financial institution processing.

Overdraft: When your account goes below zero—there is not enough money to cover the withdrawal.

Reconcile: A process to make sure your checkbook balance matches your financial institution’s balance for your account.

Reconciliation: When you have verified that your checkbook balance is the same as your financial institution’s balance for your account.

Reconciliation Form: A form that helps you reconcile your account. See Reconcile.

Recording a Transaction: The act of writing down a transaction in your check register.

Statement: The documentation you get every month from your financial institution that lists all of the activities in your account for the month.

Transaction: When money goes into, or out of, your account. Can include deposits, withdrawals, payments, fees, ATM transactions or transfers.

Void: This means that a check is not good or not usable. You would write “VOID” across the check that has a mistake written on it, tear it up, and throw it away.

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Practice Exercises

Writing Checks

You need to pay a $72.53 cell phone bill to U.S. Cellular. Complete the check below.

$

Columbus, Wisconsin (920) 623-4000 www.fmub.com Memo ı:075902670 1234··567ıı 0 5 0 1 SAMPLE-VOID John C. Doe 1224 Golf Road Columbus, WI 53716 502 00-67890000 12345678 DATE PAY TO THE ORDER OF

$

Columbus, Wisconsin (920) 623-4000 www.fmub.com

Memo

ı:075902670 1234··567ıı 0 5 0 1

SAMPLE-VOID

You need to pay for groceries at Pick-N-Save. Your total comes to $22.67. Fill out the check below to make the payment.

1

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Practice Exercises

Balancing Your Account

You have $100 in your account. Today you write a check to Kohl’s for clothes purchased in the amount of $36.75. You also stop at an ATM and withdraw $20.00. Fill out the starting balance, write the check, then enter the check and ATM transaction in the register. What is your final balance?

$

Columbus, Wisconsin (920) 623-4000 www.fmub.com Memo ı:075902670 1234··567ıı 0 5 0 1 SAMPLE-VOID

3

NUMBER

OR CODE DATE TRANSACTION DESCRIPTION PAYMENT AMOUNT FEE AMOUNT DEPOSIT $ .AD-Automatic Deposit .AP-Automatic Payment .ATM-Teller Machine .DC-Debit Card .T-Tax Deductible .TT-Telephone Transfer

$

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Practice Exercises

Depositing Money

You are depositing a check from Mark Bennett for $35.00. You do not want cash back. How would you complete this sample deposit ticket properly? Next, add it to your checkbook register.

4

NUMBER

OR CODE DATE TRANSACTION DESCRIPTION PAYMENT AMOUNT FEE AMOUNT DEPOSIT $

$

43 .25

© D EL U X E H D -101 C H EC K S A N D O TH ER IT EM S A R E REC EI V E D F O R D EPO SI T S U BJ EC T TO TH E P RO V IS IO N S O F TH E U N IF O RM C O M M ERC IA L C O D E O R A N Y A PP LI C A BL E C O LL EC TI O N A G REE M E N T. CASH DEPOSIT TICKET JOHN C. DOE 1224 Golf Road Columbus, WI 53716 DATE

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Practice Exercises

Depositing Money

Today, you deposit $1.65 in cash and four checks: Tom Johnson—$132.12; John Keller—$14.00, Mary Blake—$25.00; a state tax refund check—$300.00. You would like $50.00 cash back. How would you complete this sample deposit ticket?

5

NUMBER

OR CODE DATE TRANSACTION DESCRIPTION PAYMENT AMOUNT FEE AMOUNT DEPOSIT $

$

78 .25

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Practice Exercises

Endorsing a Check

You have a check you want to

deposit by mail. How do you endorse the sample properly?

6

ENDORSE HERE

You want to give Pat Lind this check to pay for the groceries she bought you. How do you endorse the sample properly?

7 Correcting a Mistake

You accidentally got distracted and wrote the incorrect date on your check. Today is June 17th, not May. Indicate on the check below, the proper way to correct the mistake.

8 $

Columbus, Wisconsin (920) 623-4000 www.fmub.com Memo ı:075902670 1234··567ıı 0 5 0 1

5/17/12

Subway

_6.37

Six and

37 /

100

rental car

John C. Doe

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Practice Exercises

Balancing Your Account

From the check register and monthly financial institution statement below, reconcile your account using the form on the following page.

9

NUMBER

OR CODE DATE TRANSACTION DESCRIPTION PAYMENT AMOUNT FEE _AMOUNTDEPOSIT $

$

2871 04

3881

3882

3883

3884

3885

3886

3887

3888

D

3889

3890

9/9

9/15

9/17

9/18

9/19

9/26

10/3

10/5

10/6

10/11

Betty Randall

Adams-Columbia Electric

BP

Pete’s Garage

Deposit

Kohls

St. Maria Apartments

Piggly Wiggly

Taylor Car Sales

Deposit

Monte’s

Ryan Patrick

35 00

60 00

33 19

63 60

50 00

200 00

254 66

63 60

1719 98

945 50

54 36

D

36 00

2811 04

2777 85

2714 25

2764 25

2564 25

2309 59

2245 99

526 01

1471 51

1417 15

1381 15

BAL.

Web Site: www.fmub.com E-mail: askfmub@fmub.com

ACCOUNT: 1234567 DOCUMENTS: 10 PAGE: 1 10/15/2012 John C. Doe 1224 Golf Road Columbus, WI 53716 ====================================================================================

Every Debit Card purchase you make between Nov. 1 and Feb. 29, 2012, you’ll automatically be entered for a chance to win a digital camera package, valued at $500.00. If you don’t have a Debit Card, apply for one today. =============================================================================================

DESCRIPTION DEBITS CREDITS DATE BALANCE

CHECK # 3882 60.00 09/15/12 2811.04 CHECK # 3884 63.60 09/18/12 2747.44 DEPOSIT 50.00 09/19/12 2797.44 CHECK # 3885 200.00 09/26/12 2597.44 CHECK # 3886 254.66 09/26/12 2342.78 CHECK # 3888 1719.98 10/03/12 622.80 CHECK # 3887 63.60 10/03/12 559.20 DEPOSIT 945.50 10/05/12 1504.70

BALANCE THIS STATEMENT………..……..1504.70 ============================================================================================

TOTAL CREDITS (2) 995.50 AVG AVAILABLE BALANCE 1503.69 TOTAL DEBITS (7) 2397.84 AVERAGE BALANCE 1534.72

============================================================================================

YOUR CHECKS IN SEQUENCE

============================================================================================ DATE……..CHECK#...AMOUNT DATE……..CHECK#...AMOUNT DATE……..CHECK#...AMOUNT

9/15 3882 60.00 9/26 3885 200.00 10/03 3887 63.60

9/18 3884* 63.60 9/26 3886 254.66 10/03 3888 1719.98

(*) INDICATES A GAP IN CHECK NUMBER SEQUENCE

DDA ACCOUNT 1234567

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Practice Exercises

Balancing Your Account (Continued)

This form is usually found on the back side of your statement.

This Form IS Provided To Help You Balance Your Statement

Farmers & Merchants Union Bank will never ask for confidential information through regular e-mail. Further, Farmers & Merchants Union Bank will never ask you for your password or PIN through e-mail, via the telephone or in person. If someone identifies himself or herself as a Bank employee and asks you for your password or PIN, take caution. They do not represent the Bank. Do not reveal your information to them.

Before You Start

Please be sure that you have entered in your register all automatic transactions shown on the front of this statement.

You should have added if any occurred:

1. Loan advances 2. Credit memos

3. Other automatic deposits

You should have subtracted if any occurred:

1. Automatic loan payments 2. Automatic savings transfers 3. Service charges

4. Debit memos

5. Other automatic deductions and payments.

NO. $

TOTAL $

Outstanding Transactions Not Charged to Account

Balance Shown

On This Statement $____________ Deposits Not Shown

On This Statement (if any) $____________ $____________ $____________ $____________ Total Add Withdrawals Outstanding $____________ $____________ Subtract Balance

(25)

Answers

To Practice Exercises

You need to pay a $72.53 cell phone bill to U.S. Cellular. Complete the check below.

1

John C. Doe 1224 Golf Road Columbus, WI 53716 501 00-67890000 12345678 DATE PAY TO THE

$

Memo

ı:075902670 1234··567ıı 0 5 0 1

SAMPLE-VOID

Seventy two and

53 / 100

U.S. Cellular

_72.53

Cell phone bill

Today’s Date

John C. Doe

You need to pay for groceries at Pick-N-Save. Your total comes to $22.67. Fill out the check below to make the payment.

2 $

Memo

ı:075902670 1234··567ıı 0 5 0 1

SAMPLE-VOID

Twenty two and

67 / 100

Pick-N-Save

_22.67

Groceries

Today’s Date

(26)

$

Columbus, Wisconsin (920) 623-4000 www.fmub.com Memo ı:075902670 1234··567ıı 0 5 0 1 SAMPLE-VOID

3

NUMBER

OR CODE DATE TRANSACTION DESCRIPTION PAYMENT AMOUNT FEE AMOUNT DEPOSIT $ .AD-Automatic Deposit .AP-Automatic Payment .ATM-Teller Machine .DC-Debit Card .T-Tax Deductible .TT-Telephone Transfer

$

B A L A N C E

Answers

To Practice Exercises

You have $100 in your account. Today you write a check to Kohl’s for clothes purchased in the amount of $36.75. You also stop at an ATM and withdraw $20.00. Fill out the starting balance, write the check, then enter the check and ATM transaction in the register. What is your final balance?

Kohl’s

Today’s Date

36.75 Thirty six and

75

_/

₁₀₀

Clothes

John C. Doe

100 .00

503 Date

Kohl’s

36 75

63 25

20 00

Withdrawal

43 25

(27)

+

00-6789 0000

$

_.

.

4 To Practice Exercises

You are depositing a check from Mark Bennett for $35.00. You do not want cash back. How would you complete this sample deposit ticket properly? Next, add it to your checkbook register.

Answers

Bennett

35 00

Today’s Date

35 00

NUMBER

$

43 .25

(28)

5 To Practice Exercises

Answers

Today’s Date

NUMBER

$

78 .25

+

00-6789 0000

$

_.

.

Today, you deposit $1.65 in cash and four checks: Tom Johnson—$132.12; John Keller—$14.00, Mary Blake—$25.00; a state tax refund check—$300.00. You would like $50.00 cash back. How would you complete this sample deposit ticket?

(29)

You have a check you want to

deposit by mail. How do you endorse the sample properly?

6

ENDORSE HERE

You want to give Pat Lind this check to pay for the groceries she bought you. How do you endorse the sample properly?

7 Answers

To Practice Exercises

For deposit only

John C. Doe

Pay to the order of

Pat Lind

John C. Doe

You accidentally got distracted and wrote the incorrect date on your check. Today is June 17th, not May. Indicate on the check below, the proper way to correct the mistake.

8

John C. Doe 1224 Golf Road Columbus, WI 53716 502 00-67890000 12345678

₆

DATE PAY TO THE ORDER OF

$

Columbus, Wisconsin (920) 623-4000 www.fmub.com Memo ı:075902670 1234··567ıı 0 5 0 1

5/17/12

Subway

_6.37

Six and

37 /

100

Food

John C. Doe

(30)

9 Answers

To Practice Exercises

From the check register and monthly financial institution statement below, reconcile your account using the form on the following page.

NUMBER

$

2871 04

3881

3882

3883

3884

3885

3886

3887

3888

D

3889

3890

9/9

9/15

9/17

9/18

9/19

9/26

10/3

10/5

10/6

10/11

Betty Randall

Adams-Columbia Electric

BP

Pete’s Garage

Deposit

Kohls

St. Maria Apartments

Piggly Wiggly

(31)

Your Checking Account