When you sign into a bank, you are signing into a third party that holds your money. In the case of a bank account, this third party is the bank itself. While it is very important to learn how your bank works, it is also important to learn how to keep your money safe and secure. Making sure you know the rules behind how your bank works goes a long way toward ensuring your safety.
As we learned in Part I of this article, banks have a wide variety of ways of keeping your money safe. Some banks have so-called “cashless” systems where the cashier’s check is deposited directly into the bank account. Some banks do not deposit checks into your account at all. Some banks actually scan your check and send it off to the bank account you selected for your money.
The one thing that banks are not good at is having the ability to check the balance. So, for example, if you want to make sure your account is currently free of charges, you can just go to your bank’s website and look for the “balance” tab on your account.
Now that I’m done reading about the “cashless” system, let’s talk about the “cashless check” system.
To be clear, this is not new. It’s not like it was invented just for you. In the 1800s, most banks had cash-only customers. In order to avoid fraud and charges, some banks started checking the amount of money in your accounts. This was done by scanning your checks to see if you’d just deposited the money. The best way to check this is to go to your bank’s website and look for something like the “Cashless Check” tab at the bottom.
There is a good reason banks started scanning your checks. This was done to help prevent fraudulent charges against your accounts. But the idea behind this was that if you did deposit sufficient money in your account, it would make them check your account balance by scanning the amount of money deposited. They would do this to verify that you did indeed spend that money.
For the last decade banks have been encouraging money being deposited into their accounts. When they do deposit your money, they scan it for you and give you an account number. This number is called a “check balance.” It’s an account balance that tells banks that you’ve put money in your account. There is a big difference between a bank account balance and a check balance. The latter is simply the total amount of money in your account.
The check balance is not a perfect measure of how much money you have. It’s a good approximation of the sum of your money, but not the full amount.
A better measure is the amount of money you have in your bank account. The amount you have in your bank account is calculated as your balance divided by the number of days you have been in your account.
This is why bank accounts are so useful. They provide you with a very good approximation of how much money you have in your bank account. This is why the difference between a bank account balance and a check balance is so important.