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The Consumer
Debit Resource WebSite offers an interactive training on checkbook
basics such as writing a check, or for more information, read on!
- Only
write checks if you have enough money in your account to cover
them. This may seem obvious
but many people write a check with the intention of covering
it later. This is a risky thing to do and can lead to Non-Sufficient
Funds fees if your check bounces. This practice is especially
risky now with the passing of Check
21 which is designed to make check processing faster and
more efficient because banks will now be able to process more
checks electronically.
- Use
a pen to write checks and write legibly. If
you make a mistake when you're writing a check, correct your
error and initial next to the correction. Or you can void the
check (remember to write "VOID" across the check before
tearing it up and also to record the voided check in your checkbook
register).
- Put
the correct date on the check. Avoid
post-dating checks whenever possible. If you must write a post-dated
check, make sure that the person to whom the check is written
understands this and will agree to accept a post-dated check.
- Don't
sign a blank check. This
too may sound obvious yet it is done with great regularity.
The cost can be tremendous if a signed blank check happens to
be lost or stolen.
- Use
restrictive endorsements. For
added security, you can write a restrictive endorsement such
as "For Deposit Only" which ensures that your check
can only be deposited into your account.
- Destroy
any unused or voided checks and deposit slips. To
protect yourself from fraud, it is wise to get into the habit
of shredding unused and voided checks and deposit slips.
- Always
keep your checks in a safe place. Report
lost or stolen checks immediately as a check can be as good
as cash in the wrong hands.
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