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Checking Account - 12018_585
RESPONSIBILITIES OF HAVING A CHECKING   ACCOUNT

Basic Military Requirements (BMR) - Requirement for military advancement
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BENEFITS  OF  HAVING  A  CHECKING ACCOUNT.—One  benefit  of  having  a  checking account is safety. It is safer to carry checks than money. Another benefit of having a checking account is proof of payment. A canceled check is proof that you paid a bill. Also,  having  a  checking  account  is  convenient.  A checking account allows you to receive and spend your money without carrying cash. Also, a checking account lets you pay your bills through the mail, rather than in person. Another benefit of a checking account is that it lets you establish credit. A well-maintained checking account is an asset to establishing and obtaining credit. Finally,  a  checking  account  helps  you  budget  your money. Keeping a record of checking activities helps you budget your expenses and income. As you need money, you  draw  or  transfer  funds by writing  a  check.  You  can  issue  a  check  payable  to another person or to a company to pay bills or to get cash. A checking account provides a canceled check as a receipt of payment. Also, checks are available with carbonless  copies  of  the  original  check.  This easy-to-maintain  method  can  conveniently  help  you manage your financial affairs. Before you open a checking account, ask the bank or credit union the questions shown in the following chart. 17-8 Student Notes: Figure 17-3.—A sample deposit ticket and corresponding check register entry.







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