Explore Money! by Cindy Blobaum

Author:Cindy Blobaum
Language: eng
Format: epub
Publisher: Nomad Press
Published: 2014-09-15T00:00:00+00:00

MANAGING YOUR ACCOUNT

When banks first started, you had to be at the bank to make a deposit or a withdrawal. To make it easier for account holders to use their money, checks were invented. Checks are slips of paper that act like money messengers.

Each check has your name, address, account number, and the bank information printed on it. When a person who owns an account writes a check, it tells his or her bank to give the person holding the check a certain amount of money.

After computers were invented, people could send those money messages without writing anything down on paper. Now many people just send messages over the Internet telling their banks who to send money to.

All day, every day, money is being moved from one bank to another. There are millions and millions and millions of transactions. It’s a good thing that banks have computers to keep track of whose money is going where.

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