Third Grade
Worksheets
How Does a Checking Account Work?
You know that it is not safe to keep a lot of money lying around. It is also not safe to carry large amounts of money in your wallet. So what should you do with it? A smart thing to do is to open a checking account. But just how does a checking account work?
You can open a checking account at a bank. It's easy to do. You deposit money into your account. Then you can take it out again whenever you need to.
The money you put into your account is called a deposit. The bank will give you a special slip of paper to fill out when you make a deposit. You can put in cash. You can also put in checks from other people, like your paycheck or a check from your mom for your birthday. Once the money is in your account, you can spend it to pay bills, to buy groceries, or for other things you need.
