Maintenance should include
- keeping check registers or stubs up-to-date
- balancing an account against a monthly statement
- identifying the main tools and concepts related to a checking account, such as
- deposit
- endorsement
- check stub
- check register
- check writing
- stop payment
- overdraft
- postdating
- check processing
- bank statement
- online bill pay
- service charge
- using digital account reconciliation tools.
Process/Skill Questions:
- What is the importance of a signature card?
- Why do banks have service charges? What are examples of service charges?
- Who should be permitted to endorse checks?
- How can one prevent overdrawing an account?
- What is the problem with postdating a check?
- What is the procedure for balancing a checking account to a monthly bank statement?
- What are the advantages and disadvantages of electronic banking?