THE MATH 2

Hello! :)) This is my 2^nd blog about Math and this time I want to talk about Bank Reconciliation or on how to manage checking accounts. (By the way a check is the common mode of payment!). A checking account is given to us by banks, savings, loans etc. to allow us to deposit or withdraw money. Every account holder can access their accounts using a personal check or ATM cards.

Steps on how to open a Checking Account:

When you want to open a checking account, you should estimate how much you can keep in the account, and then look for an account whose minimum balance requirements meet your needs. If you dip under the minimum balance, you will be subject to maintenance fees and other charges, so it is important to choose an account with a reasonable balance requirement.

1. Complete an Application – you can register either online or at your local branch.

2. Provide your I.D. – make sure to make a copy of your I.D.

3. Fund your Account – you can fund your account using cash or write a check if you and older     account.

4.Sign a Signature Card – the bank uses this card to verify your signature when you write a check.

Lastly I want to share some tips on how to Manage Your Account Responsibility and Keep it Safe.

- Learn how to fill out a check pro perly.

- Use a secure mail drop for paying bill.

- Don't shop when the money isn't in the bank.

- Balance everyday.

- Reconcile monthly.

- Don't use your primary checking account for online payments and shopping.

- Dispose of extra deposit slips properly.

- Protect your debit card

- Report problem immediately.

So, basically this is our lesson for this week. I think this lesson will soon be important after we graduated and have our own checking accounts. Other lesson that I learned is to be more careful in trusting someone when using a chek for payment. 

Approved by: Prof. Crisencio Paner