Depositing and withdrawing money

When you have a checking or savings account, you can deposit and withdraw money either in person at the bank or using an ATM.

• Making a deposit: If you want to deposit money into your account, there are a few options. If you’ve received a check, you'll need to endorse the back of the check. This means signing your name, adding your account number, and writing “For deposit only” on the third line. Whenever you receive a check, it's a good idea to endorse it immediately. That way, if it's lost or stolen, no one else can deposit the check into their account. Then, use a deposit slip from the back of your checkbook and write in the amount of your deposit and date. Remember to add the deposit to your check register and calculate your balance.
• Visiting a bank branch: The benefit of using a bank teller or drive-up window is that you have a record of your deposit or withdrawal.
• Using an ATM: The benefits of using an ATM are that they're convenient and open 24/7.
• Making a withdrawal: To withdraw money, you can write a check made out to "Cash" and then date and sign it like a check you would deposit. Endorse the check and give it to the bank teller, who will give you the cash. To withdraw money from an ATM, put your ATM card into the machine, enter your Personal Identification Number (PIN), and specify the amount of cash you'd like back.
• Receiving cash back from a deposit: If you make a deposit and want cash back, there's a line on the deposit slip for "less cash received." You can fill that in with the amount of money you'd like to withdraw.

After you've made a deposit into or withdrawal of funds from your account, record the amount in your check register and tally the new balance.