Other Forms of Payment 4 02 E STUDENTS
- Slides: 11
Other Forms of Payment 4. 02 E STUDENTS WILL UNDERSTAND THE PURPOSES OF SPECIAL CHECKS.
Other Common Payment Services �Special Checks Travelers check � Requires 1 st signature when check issued � Requires 2 nd signature when check used Go to link below and read about traveler’s checks and how they work. http: //usa. visa. com/download/merchants/visa_travelers_cheques_acceptance. pdf
Traveler’s Checks – Draft drawn by a well-known financial institution on itself or its agent, used when traveling � Go to website � http: //www 212. americanexpress. com/ dsmlive/dsm/dom/us/en/personal/car dmember/additionalproductsandservic es/giftcardsandtravelerscheques/travel erschequesandforeigncurrency. do? vgne xtoid=6 d 17 fc 671492 a 110 Vgn. VCM 1000 00 defaad 94 RCRD � Answer the related questions on graphic organizer/guided notes.
Traveler’s Check
Certified Check �A certified check is �Go to website: written by a bank for you from your bank account to give to someone. �It's guaranteed funds that the bank reserves from your account. http: //www. superpages. c om/supertips/what-is-acertified-check. html �Use the website to answer the questions on your graphic organizer/guided notes.
Certified Check
Certified Check Questions Who issues a certified check? 2. Give two examples of when you might need a certified check? 3. Why can’t a certified check bounce? 1. Why does a creditor require a certified check? 5. Do banks charge a fee for a certified check? 4.
Cashier’s Check Sample Cashier’s Check – A check the bank draws on itself
Common Payment Services �Money Order � Draft issued by a post office, bank, express company, or telegraph company for use in paying or transferring funds for the purchaser � Orders issuing agency to pay amount printed on form to another party �Types of Money Orders: Postal money order Express money order Telegraphic money order � Go to website http: //en. wikipedia. org/wiki/Mon ey_order Write questions 1 -5 from next slide on notebook paper. Use the website to answer the questions.
Money Order Questions For what amount of money is a money order issued? 2. When was the Postal Order system established? 3. What is a concern about using money orders? 1. Who usually sells money orders in the United States? 5. Name 5 security features of a postal money order. 4.