xt7jh98zbf3n https://exploreuk.uky.edu/dips/xt7jh98zbf3n/data/mets.xml   Kentucky Agricultural Experiment Station.  journals kaes_circulars_004_573 English Lexington : The Service, 1913-1958. Contact the Special Collections Research Center for information regarding rights and use of this collection. Kentucky Agricultural Experiment Station Circular (Kentucky Agricultural Experiment Station) n. 573 text Circular (Kentucky Agricultural Experiment Station) n. 573  2014 true xt7jh98zbf3n section xt7jh98zbf3n       S      ‘  
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SEE THATALLCHECKSAND DRAFTSARE ENDORSED UNC
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 his 3. Keep a record of all checks deposited and from whom they
_ 8 came. When a passbook is not used, duplicate tickets should be made.
The teller will sign or stamp them. One will be kept by the bank, and
the other will be given to you as a receipt. These should be carefully
guarded.
4. List separately the amount of each check on the deposit tickets.
5. VV rite in the transit number of the bank upon which the check
is drawn. The transit number is the hyphenated number on the cheek
(Fig. 2). If the depositor needs or wishes to kecp a record of the person
who gave him the check, his name may be written under the transit
number on the deposit slip or written in the passbook if one is used. ·
6. Add all items on the deposit ticket—silver, currency, checks.
Recheck the total to see if it is correct.
7. Have the amount of the deposit entered in your passbook, or
get your receipted deposit ticket.
HOW TO WRITE A CHECK
l. Write checks plainly with ink.
Z. Fill in the check stub completely before writing the check.
Otherwise you may forget to fill out the stub, and you may overdraw
your account.
3. Date the check on the day it is drawn. Never write a future date.
4. Number each check and stub consecutively, continuing from one
book to the next.
5. YN/'rite name of person or organization close to the phrase, “Pay
to the order of." If space is left between payee’s name and the dollar
sign, fill in with a heavy or wavy line.
6. When making checks payable to officials, state the oiiicial title;
for example, Mrs. Henry C. Price, secretary of Vine Grove Home-
maker’s Club.
7. Never make checks payable to “Bearer." Do not make checks
to “Cash," except at the bank, for if lost, they could be cashed by
anyone.
8. VV rite amount of check in figures close to the dollar sign.
9. Write the amount in words as far to the left as possible so that
another figure cannot be inserted before it to raise the amount. Fill
in unused space with a wavy line. Amounts in words and figures should
agree. When there is a difference between them, the bank will usually
try to contact the drawer, and if this fails will probably pay the smaller
amount. If it is necessary to write a check for less than a dollar, write p
“No dollars" and state cents as you would ordinarily.
10. Sign your name to resemble as closely as possible the signature
on your signature card on file at the bank.
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 ll. Never sign a blank cheek. If lost, the finder could fill in any
amount and the signer would be liable.
12. VV rite briefly what the check is for. Cancelled checks and well
written stubs provide a record of expenditures.
13. If an error is made, destroy the cheek and make a new one.
Never cross out or change any written items on a cheek. Changes on a
check confuse the banker. He fears that someone may have tampered
with it. An altered or changed cheek is not negotiable legally.
HOW TO ENDORSE CHECKS
All cheeks made payable to a person must be endorsed by him before .
they can be cashed or before transferring them to another person.
\Vhen you endorse a ehcek without qualifications, you assume responsi-
bility that the check is genuine, that you have received value for it, and
that if necessary you will pay it yourself. You may hold previous
endorsers responsible for payment, just as any endorser following you
may hold you responsible for payment if the bank the cheek is drawn
on should refuse to honor it.
1. To endorse a cheek, sign your name on the back at the extreme
left end.
Z. If your name is misspelled or incomplete, write your first
endorsement in the same way. Beneath it write your regular bank
signature (Fig. 3).
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Fig. 3
KINDS OF ENDORSEMENTS
V Figure 4 is a blank endorsement with only the name signed. If
the check is lost the finder may cash it. Do not endorse a check in
this manner until you are ready to cash it.
l Figure 5 is a special endorsement. It names the person who must
sign the check. It is a safeguard against loss or theft when a cheek is
passed to someone else. Before it can be cashed, Mary Graham must
endorse it also.
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Figure 6 shows a “restrictive endorsement.” It is desirable if the
check is sent for deposit to the bank by mail or by another person.
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How to Use Your Bunk Statement p  P
Keep your checkbook in agreement with the balance in your je
account at the bank as indicated on your bank statement. Enter each Q hOu1·
10 ’

 check on the check stub, and subtract that amount from the balance
in your checkbook. In this way you can avoid overdrawing your account.
Once a month, get a statement of your account and your cancelled
checks from the bank. Look them over carefully. If no errors are
reported, the account will be assumed correct by the bank.
Subtract from your checkbook balance the amount of any service
charges not recorded.
Check each paid check with your checkbook stubs. Sort the checks
by numbers or by date issued. Make a list, and add the amount of all
checks issued but not yet paid by the bank. Subtract this amount from
your statement balance. Enter and add any deposit in transit by mail `
or made later than the date of this statement. This balance should be
the same as your checkbook balance.
How to Close ¤n Account
VVhen you are closing a checking account, the bank on request will
return all checks which have been paid but not received by the
depositor. If any checks have been written and not yet presented,
funds should be left in the account to cover them. Otherwise these
checks would be returned unpaid.
Ic OTHER BANKING SUGGESTIONS
Cash checks promptly, a day or two after they are received. A
check held too long may become “stale." Never accept or hold a
T check more than 6 months old. Do not accept an old check without
consulting the bank upon which it is drawn.
· Cancelled checks may serve as receipts. Keep important receipts
and cancelled checks at least S to 7 years.
Stop payment of lost checks. If a check is lost, ask the bank on
l which it was drawn not to honor it when it is presented for payment.
Notify the bank at once by telephone and in writing, to ask that pay-
y ment be stopped. Describe the check fully, giving date, amount, payee’s
J name, and check number. On joint accounts, stop—payment orders
i should bc signed by the person issuing the check.
l Notify the bank at once if the lost check is found. VVhen another
. check is issued to replace a lost check, write “duplicate" across the face
i  of it.
  Notify the bank of change of address. Your correct address should
‘ be on Hle at the bank at all times.
I Notify the bank if you lose your passbook.
I T  Avoid rush hours. You get better service when you avoid rush
l ’  hours at the bank. The peak rush periods, as a rule, are between
.  11

 11:00 a.m. and 2:00 p.m. Usually Mondays, Fridays, Saturdays, and for
all days following holidays are busiest. In industrial areas, the first and ser
fifteenth of the month are payroll periods and bring an extra heavy pay
load of work to the bank. yor
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HOW CHECKS ARE CLEARED cnr
VVhen you deposit a check which was drawn by another depositor act
of your bank, the bank transfers the amount of the check from his
account to yours. 0111
\Vhen the deposited check is drawn on another local bank, it is the
cleared at a designated time the next morning according to set mo
arrangements. However, checks payable out of town are collected Wh
direct, or through the Federal Reserve System or a correspondent bank.
It may take several days. Wl1·
Provisional credit is given you as soon as you deposit a check drawn $111
on another bank. You are not free to draw against the deposit until 51111
the check has been accepted for payment and collection has been f Of'
completed. PGP
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PERSONAL CHECKS are drawn on your checking account. For dmc
various reasons, other types of checks may be necessary. Cas,
CERTIFIED CHECKS are personal checks guaranteed by the ban
` bank upon which they are drawn. Upon request, a bank employee will and
sign his name and stamp “Ccrtified" across the face of a check. 'l`he · fm;
amount is transferred from the depositor’s account to the bank’s. A
certihed cheek is your personal check which has become the obligation
of the bank, and as such must be charged to and Bled in the bank’s 1
certified check account. If for any reason you need this check, sign i 
the ticket that was used to debit your account and exchange it at the   111211
bank. a pz
In certifying a check, the bank gives a written promise to pay it   and
_ when properly endorsed. For this reason, if a certified check is lost, P .
the bank usually requires a bond for twice the amount of the check _ funi
before crediting the depositors account or certifying a replacement 1 righ
check. . Hoy
' A certihed check must not be destroyed. If you have one that will   thes
not be used, return it to the bank and deposit it for credit to your J
account. Endorse the cheek "Returncd unused” and sign your name. i
CASIFIIEPQS CHECKS are safe methods of sending money by 5  I
mail. '1`hey may be used by persons who do not have a bank account The
as well as by those who do. 'l`hey are drawn on the bank in exchange _  valu
12 e

 nd for a personal check or cash; usually a small fee is charged for the
ad service. Payment cannot be stopped on a cashier’s check unless the
vy payee furnishes bond. Guard the check carefully. It is advisable if
you purchase a cashier’s check to make it payable to yourself, and
endorse it over to the person for whom it is intended by special
endorsement (See sample, page 10). A complete record of the trans-
OI action is thus carried by the check.
Us A BANK MONEY ORDER is bought at the bank. It is made
out to the person who is to receive the money. It bears the name of
is the sender and carries a receipt for the sender. It is similar to a postal _
Ct money order but less expensive. It can be cashed by the person to
id whose order it was made wherever he is known or can be identified.
k_ TRAVELER’S CHECKS are one of the safest ways to carry money
when traveling. They can be bought in convenient denominations of
¤n $10, $20, or S50 at banks, express companies, or other agencies for a
;il small fee. \Vhen purchased, each is signed at the top in the presence
an of the seller. VVhen cashed, they are signed at the bottom while the
person taking the check looks on. If they are lost or stolen uncounter-
signed, your money will be refunded.
Keep a record of the serial number on the traveler’s checks in a
H different place from the checks. This information will be needed in
case you lose the checks. If the checks are lost, immediately notify the
lc bank or company from which you bought the checks. Give the number
ll and amount of checks lost. At the first opportunity fill out a claim
C form furnished by the company to the bank for this purpose.
A
lg sAviNcs ACCOUNTS
n Savings accounts, sometimes called thrift or time deposits, help
e many people get ahead financially. When a savings account is opened,
j a passbook will be given the depositor. In it will be entered all deposits
t - and withdrawals. The book must be presented for all withdrawals.
i, Q A nominal rate of interest is allowed. lf possible, avoid withdrawing
k · funds just before the date when interest is due. Your bank reserves the
t . right to require advance notice of intention to withdraw these funds.
However, it is common practice to permit the depositor to withdraw
l T these funds without notice.
r
3 SAFE DEPOSIT BOX
—‘ ` Many banks provide safe deposit boxes at a nominal rental fee.
K _ These boxes are a safe place to keep important papers and other
F  · valuables. Boxes 1nay usually be obtained in sizes to fit varying needs.
g  is

 Two keys are given when the box is rented. The keys should be
safeguarded. If they are lost, it is necessary to drill the old lock out
and provide a new one, and the expense is paid by the renter. To enter
your box, a guard key kept by the bank and your key are needed to
open the lock.
VVhen one person rents a box, only that person can enter it. A
person can appoint a deputy to enter the box. At the death of the
renter, the box is sealed.
Two persons, as joint lessees, may rent a box and either one may
have access to it. Upon the death of one renter, the box is sealed until
a report of its contents is made to the Tax Commission.
If more than one person uses the box, the contents should be clearly
labeled showing to whom the items belong.
Both keys must, by law, be returned to the bank when you sur-
render the box or the lock must be replaced. This expense is paid
by the renter. It is against the law for anyone to make a duplicate key.
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 Cooperative Extension \V0rl< in Agriculture and Home Economics: College nf Agriculture J
and Hume Economics, University of Kentucky, and the United States Department of ‘ 
Agriculture, cooperating. Fmnk ]. Welch, Director. Issued in furtherance of thc Acts of
May S und june 30, 1914. IOM 7 60