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Learn about…
9 How to deposit money
9 How to make withdrawals and write checks
9 How to keep track of your money
Depositing Money
You can deposit cash and/or checks into your account by using deposit slips found in the
back of your checkbook behind checks. If you have run out, or do not have your
checkbook with you, the bank will have blank slips for you to use. There are a few areas
that need to be completed on the deposit ticket before giving the transaction to the teller.
Use either a black or blue pen to complete the form and remember to write neatly. Here
are the spots that should be filled out on your deposit ticket:
1. Date: The date you are depositing money.
2. Cash: The amount of cash, if any, you are depositing. Add all cash together and
write it here.
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3. Check Entry: The amount of any checks you are depositing. If you have more
checks than allowed for on the form please refer to number four (4). List each
check on its own line.
4. Additional Check Entry Area: The back of the deposit ticket has spaces for
additional checks if you run out of room on the front.
5. Total From Other Side: If you had more checks than allowed for on the front of
the deposit ticket and had to use the additional check entry area you will need to
add the checks that on are the back of the deposit ticket and put the total in this
section.
6. Sub Total: Add items 2, 3, and 5.
7. 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.
8. 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 receiving cash
back, subtract that amount. The result is you net deposit. Write that amount here.
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Endorse a Check
Almost any job pays your wages by a check. To deposit the check, you need to endorse
the back of it. This means that you sign your name in either blue or black ink on the back
of the check. You should sign your name the way it is 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 checks as shown:
Blank
Sign your name the same way it is
Endorsement written on the front of the check.
Only sign it when you are ready to
cash it or deposit the money into your
account. Once the check is signed on
the back, someone else could get your
money if you lose the check.
Special
You would sign like this if you
Endorsement wanted 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.
Restrictive
When you want your check to be
Endorsement very safe, such as when you send it
in the mail to Cumberland Security
Bank, use this type of endorsement.
Write “for deposit only” and sign the
underneath. Now the check can only
be deposited into your account, not cashed.
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Writing Checks
With a little practice, writing checks is easy. Always use either a blue or black pen, and
write neatly, when writing checks. You will always find the following six spots on a
check:
1. Date: Write the date.
2. Pay to the Order of: Write the name of the check’s recipient.
3. $ Amount: Write the check’s amount using numerals. When you write the
number, start at the left and don’t leave space because people could add more
numbers.
4. 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 and draw a line
through the extra space.
5. 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.
6. Memo: Note what the payment is for.
It is important to write your checks legibly to make sure your check is accurately
processed.
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Managing Your Money
Check Register
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.
Let’s look at a register and see how it works.
The columns in your check register are labeled. Here is what each column is for:
Codes
AD
AP
ATM
DC
E
SC
TT
TD
O
Automatic Deposit
Automatic Payment
Automatic Teller Machine
Debit Card
Electronic Check
Service Charge
Telephone Transfer
Tax Deductible
Other
1. Number or Code: This is the check number. You can
find it in the upper right corner of each check. Every
check has a different sequential number. You can also
use this column to write codes for anything other than a
check. The codes are shown on the left and you can
also find them listed in your check register.
2. Date: Write the date you wrote the check or did the transaction.
3. Description of Transaction: This tells what you did. Did you deposit money?
Write a check? Use the ATM? Describe your transaction here or where you did
the transaction or who the check was made payable to.
4. Payment/Debit: Write the check or withdrawal amount here.
5. Item Cleared: When you get your statement, every month you’ll place a “3”
through this box when you see the transaction listed.
6. Service Fee: If you will receive a charge or fee for the transactions, record that
here. Examples of fees would be from an ATM machine or writing too many
checks on a Money Market account.
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7. Deposit/Credit: Did you deposit money into your account? Write down any
deposits into your account.
8. 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 amount left is your balance.
Monthly Statement
Every month you will receive your statement for your checking account. Savings
account statements are mailed every 3 months. Your statement will include all processed
checks, ATM withdrawals, telephone transfers, debit card transactions, and all deposits
within the statement cycle. Your statement will also show your ending balance which is
the balance of your account on the day the statement was printed.
You may also receive images of your checks if your account allows for that. The images
are of checks that have already been written and have cleared the bank. Any checks you
have written that has not cleared the bank 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. Bank Information: Cumberland Security Bank name and logo.
2. Address: This is your personal address where your statements are mailed.
3. Account Information: Here is where you will find the type of account you have,
account number and the statement date.
4. Deposits: This is where your deposits are listed. You’ll see the date and the
amount of money you deposited.
5. Checks and Deductions: These are all the checks you wrote for the month.
You’ll see dates, check numbers, and the amounts you wrote the checks for. If
you see * by check numbers, that means either you are missing a check, or that
check is outstanding. You’ll also find your ATM withdrawals, Debit card
transactions, and other electronic debits.
6. Daily Balances: You’ll see dates listed, and how much money was in your
account on that day.
7. Ending Balance: Here is a summary of your account for the month. You’ll see
how much you started with, how many withdrawals you made, how much money
you deposited, and how much money you have left in your account on the day the
statement was printed.
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Balance 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 deposited
into your account, how much you spent, and how much you have left.
To reconcile your account you do two things: First, look at your check register and
your statement together and compare them. Here’s how to start.
1. First open the envelope with your statement. Cumberland Security Bank does
not send your canceled checks back to you so they will not be included with
your statement. If you have specific accounts, you will receive a picture
image of your checks.
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 3. Do this for every check on your statement.
4. Repeat Steps 2 and 3 above for every deposit. Check it off on your statement
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 Cumberland Security Bank 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, or
automatic deductions (i.e. a car loan or mortgage payment) 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 account earns interest, add the interest amount to your check register.
8. Now your checkbook should be up-to-date.
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 on the back. This is a form to help you
reconcile your accounts. Just like all the other forms we’ve talked about, there are spots
for you to fill in.
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The reconciliation form guides you to:
1. Write down the ending balancing Cumberland Security Bank has for you on the
day the statement was printed, shown on the front of the statement.
2. List and total any deposits that were made after the statement date and that do not
show up on the statement.
3. Add together all checks that have listed in your check register but are not listed on
the statement in the proper column.
4. Add line 1 with line 2 and then subtract line 3. Now the balance of your
checkbook should match the ending balance on your statement. This is your
actual balance.
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