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Making Deposits and Withdrawals
Once you've opened your savings and checking acccounts,
you'll want to make deposits to and withdrawals from your accounts.
Making
Withdrawals | Close
this Window
Making Withdrawals
When you want to take some of your money out of the bank, you withdraw it by
filling out a withdrawal slip.
As you can see, Janice Citizen withdrew $60 from her account.
After you fill out your withdrawal slip, you can take it directly to the bank
where a bank teller will withdraw your cash for you. Of course, you'll have to
have a real account at the designated bank.
Practice, Practice
Now it’s your turn. Next month, you need to take out $30 for a school trip.
Click on the link below, print and complete the withdrawal slip. Withdraw
$30.
Do the worksheet: Fill Out a Withdrawal Slip >>
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Making
a Deposit | Close
this Window
When you’re ready to open a checking or savings account, you’ll
need to fill out some paperwork, then deposit cash or a check into the
account. You can make deposits by filling out a deposit slip.
Look at the sample deposit slip below and the types of information you
need to fill out.
How much did this individual deposit into his or her account?
Is he or she depositing a check, coins, or currency (cash)?
After you’ve filled out a deposit slip, take it, along with your
check, coins, or cash directly to the bank where a bank teller will make
the deposit for you.
Practice, Practice
Now it’s your turn. Your Aunt Tessa sent you a check for $45 for
your birthday. You decide to put $35 into your savings account. Click
on the link below, print the sample deposit slip and complete it. Show
a $35 deposit into savings; keep $10 in cash.
Do the worksheet: Fill Out a Deposit Slip >>
You can also make a deposit by using an automated teller machine (ATM).
Go to ATM
Deposits. |
ATM
Deposits | Close this Window
Automated Teller Machine (ATM)
An ATM is an electronic machine that bank customers use to make financial transactions,
such as depositing money. When you open your checking or savings account, your
bank will give you an ATM card, which looks like a credit card. Your bank will
also assign you a PIN, or personal identification number. When you’re ready
to access your savings or checking account, you insert your ATM card into the
ATM
and provide your PIN, using the ATM key pad.
Once you gain access, a screen on the ATM will guide you through a bank transaction,
such as depositing or withdrawing money. After you complete a transaction, your
account
balance will automatically be adjusted to reflect your deposit or withdrawal.
When you deposit money into your account using an ATM, you place your money and
deposit slip into an envelope, then insert it into the machine. You may only
deposit cash or checks into an ATM—it does not accept coins.
After you finish your transaction, the ATM dispenses a receipt stating your deposited
amount.
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ATM
Withdrawals | Close this Window
When you withdraw money from your account using an ATM, you don’t need
a withdrawal slip. You simply gain access to your account using your ATM card
and PIN, then using the ATM key pad, request the amount you want to with draw.
The ATM machine dispenses your requested amount of money and a receipt stating
the withdrawn amount. |
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