188 Unit 2 Managing Your Finances
If you want someone else to have check-cashing privileges on your
account, he or she also needs to sign a signature card. This may be helpful
if you want someone else to be able to access your account in the event that
you are unable to do so. If you share an account with a parent or a spouse,
it becomes a joint account. This requires a clear understanding of who will
write checks and how records of transactions will be kept.
When you open a checking account, you receive a small book of starter
checks. These starter checks are blank but show your account number. You
use them until your personalized checks arrive. They will be printed with
your name, address, and account number, 8-6. The checkbook includes a
register for keeping track of your transactions, 8-7.
Managing the Cards Linked to Your
Account
You may be offered credit, debit, and ATM cards when you open a
checking account. (Credit and credit cards are described in more detail in
the next chapter.)
Inquire about the service fees associated with using your ATM and
debit cards and any limits applying to their use. To avoid errors in your
account balance, record all transactions and fees in your checkbook reg-
ister. Keeping your receipts will also help. If used wisely and responsibly,
these cards can provide you with greater fi nancial fl exibility.
Bank Checking Draft Signature Card
Submit one card to establish an optional check redemption privilege which allows you to write checks against
your account.
Name of Account
Account Number Date
The registered owner(s) of this account must sign below. By signing this card, the signatory(ies) agree(s) to
all the terms and conditions set forth on the reverse side of this card.
Signature Signature
Signature Signature
Institutional Accounts:
❏ Check here if any two signatures are required on
checks
❏ Check here if only one signature is required on
checks
Joint Tenancy Accounts:
❏ Check here if both signatures are required on
checks
❏ Check here if only one signature is required on
checks
8-5
When you open a checking account, you will be asked to sign a card with the signature you intend to use for all your financial
and legal transactions.