The art of writing a checkWritten by Jakob Jelling
By Jakob Jelling http://www.cashbazar.comAlthough it may seem very obvious, many people do not know how to write checks. With birth of a generation that regularly uses ATM check cards, online bill payment systems, and credit cards more often than checks, check writing may risk extinction due to ignorance. Luckily for you, this article will take you through process of properly writing a check step-by-step – so that there may be hope for future generations of check writers. The first thing you should do is write in date using any format with which you feel most comfortable. Just make sure that you write it legibly, so that there is no confusion as to when you wrote check. If you want recipient to have money right away, put in current date. If you want recipient to withdraw funds at a later date, however, write in a future date. This is called a post-dated check. Rent checks are often collected in this manner. Secondly, write name of person or organization that will receive your check on line that is preceded by words “Pay to Order of” or “Payable to.” Then write dollar amount that you want to send to recipient in small space that starts with a dollar sign ($) so that it is written in following manner: “50.89.” (Of course, you must write in amount you want to pay). At this point you must write same amount using words for whole dollar amounts, a fractional number for amounts less than a dollar, and a straight line in remaining space before word “Dollars.” Do it in this manner exactly: “Fifty and 89/100------------- Dollars.”
| | Opening a bank account doesn't have to be difficultWritten by Jakob Jelling
By Jakob Jelling http://www.cashbazar.comIf you're a young person who has just begun to earn some money, it is very important that you know how to open a bank account. Once you do, you'll have taken first step in a long-term process of financial independence and growth. A bank account is not only essential to cultivating savings, it is also important for day-to-day financial activities. Before you decide what bank or financial institution with which to do business, however, do some research. Talk to your friends and family about where they do their banking. Ask them questions about service their bank provides, and whether or not they are satisfied with it. Next, determine exactly what type of account you want. The two most common types of accounts are a checking account, and a savings account. A savings account does just what its name implies – it allows you to deposit money in bank that will receive a small amount of interest over a period of time. A checking account is intended more for daily, weekly, and monthly transactions, such as writing of checks and withdrawal of cash for various minor purposes. For this reason, a checking account does not usually generate interest.
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