One of the main reasons we open checking accounts is to access our money easily when we need it. The process of adding money and taking money out of the account comes with some basic guidelines.
Watch the video to learn more about Making Deposits and Withdrawals, then test your knowledge at the end of the lesson.
What is the main difference between a blank endorsement and a special endorsement?
A. A blank endorsement signs a check away to someone else, while a special endorsement’s signature matches the name on the “Pay to the Order of” line.
B. A blank endorsement’s signature matches the name on the “Pay to the Order of” line, while a special endorsement signs a check away to someone else.
C. A blank endorsement is used when depositing a check remotely, while a special endorsement is written and signed using a paper deposit slip.
D. A blank endorsement must be signed by the main authorized user of the receiving account, while a special endorsement can be signed away to anyone.
Generally, there are three ways to make a deposit: use deposit slips, make an electronic deposit, or set up direct deposit.
A. True
B. False
When filling out a check, you should always write with a pen. If you mess up, the best thing to do is:
A. Scratch out the mistake and write the correct information above
B. Scratch out the mistake and sign your initials near the correction
C. Draw a line through the mistake and write the correct information on the back
D. Write VOID in large letters across the check, rip it up, and start over