Share Drafts & Checking

SANTE FE, NM(5/20/02)--A case in Albuquerque, NM brings to light how consumers write and cash checks. A man found a purse in a dumpster along with a check written out to "cash" by the owner of the purse. The man returned the purse to the owner, but decided to keep and cash the check. What happened next should cause every checkwriter to be more cautious(The Santa Fe New Mexican May 12).

Quick. What do you call that card in your wallet that lets you withdraw cash from an ATM and make purchases without using credit?

The answer is a debit card. But if you said a check card or an enhanced ATM card or even an express checking card you could be right as well. Different banks call debit cards different things.

"There's quite a vocabulary out there," says E. Thomas Garman, author of 26 books on personal finance.

How does your sharedraft(checking) account fit into your personal finance picture?

Successful checking account management will reduce the chance of checking account fraud, non-sufficient funds(NSF) occurances-or 'bouncing' a sharedraft(check)-and late payments, all of which can negatively affect your reputation and harm your credit record.

To manage your checking account successfully, you must understand three basic parts of checking account management:

Have you had trouble with credit in the past? Do you find yourself in situations where you would like to pay with a check, but the business will not accept one? Russell Country Federal Credit Union's Debit Card is accepted anywhere you could normally pay with a credit card, but the money comes directly out of your checking account. Unlike checks, the debit card is...

The urge to be generous while holiday shopping, and using a debit card to do so, could cause a holiday hangover--similar to a credit card hangover. Many people rob themselves of money they needed or planned to spend elsewhere when they use a debit card, experts say (CBS MarketWatch Nov 19).

American Express Travelers Cheques for Two.

Now there's another choice in American Express Travelers Cheques. Travelers Cheques for Two! The first Cheque that offers the dual signature privilege which lets you and a traveling companion use the same Cheques. The only Cheque that lets either of you benefit from all the valuable services that are automatically yours when you choose American Express Travelers Cheques-peace of mind, worldwide acceptance, superior refunds and emergency assistance. Plus the unprecedented