General Guidelines for Successful Account Management Arrow pointing Down
- Keep good records. Record all your transactions, including those that can be easily forgotten.
- Monitor your checking account activity regularly.
- Balance your checking account each month.
- Plan for the “unexpected.” Save.
- Don’t spend more than you have.
“Don’t spend more than you have” sounds like good advice—and it is. But it doesn’t address the complexity of managing your life, your finances, and your checking account. This guide will help by providing information you need to manage your checking account successfully.
Managing Your Checking Account Arrow pointing Down
When you opened your checking account with us, we provided you a check register. A check register is a great way to record all of your transactions, not just checks.
If you don’t have a check register, you can get one from us, create one of your own in software like Microsoft Excel, find one online, or just use a notebook. The point is to have a tool you use regularly to keep track of the money coming in and going out of your account.
Make sure to use your check register and write down:
- Every transaction made including debit card and ATM transactions.
- Every fee assessed—ATM fees, monthly Maintenance Fees, ATM fees charged by other institutions, etc.
- ACH auto-debit transactions—the bills or payments you set up to pay automatically from your account that can be overlooked easily.
- Auto-transfers—money set up to transfer from your checking account to a car loan, savings account, or other account that can be overlooked easily.
Each month we provide you with your checking account statement. Your statement is a record of all the transactions that have been posted to your account since your last statement.
The balance you have in your check register may be different than the balance you see on your statement, at the ATM, or the balance you see for your account in our digital banking system. This is because the balance we show for your account may not include transactions you have made that have not cleared. However, your check register should include all your transactions. By recording all of your transactions, you’ll have a good idea of what you really have in your account.
You can avoid the penalties of overdrawing your account by keeping a careful record of what goes in and comes out of it. After all, it’s your money.
- Record all of your recurring transactions (those that you have set up to happen automatically on a regular schedule) for the month.
- Create a reference list like the one below to help you remember to record each transaction every month. You can use simple spreadsheet software, or even just a lined notebook.
Note: Remember to record all transactions that you have set up directly with merchants (ACH auto-debit or online bill payment), as well as recurring debit card transactions.
|Recurring Monthly Transaction||Date||Amount|
|Payroll deposit (direct deposit)|
|Other deposits (add as many lines as you need to itemize them)|
|Other recurring payments (add as many lines as you need to itemize them)|
|Monthly service charge|
|Other financial institution fees|
Recording Your Transactions
- Record all transactions in your check register.
- Remember to record your recurring transactions. You may want to do this at the beginning of every month.
- Be sure to record easy to overlook transactions like:
- Everyday debit card transactions, also called point of sale (POS) transactions
- ATM withdrawals
- ACH auto-debits
- ATM fees
- Transfer fees
- Overdraft fees
|1081||3/8||ACME Grocery Store||$188.75|
|Debit card||3/8||coffee shop||$5.25|
|ATM||3/8||ATM at grocery store||$30.00|
|Debit card||3/8||nail salon||$24.75|
Balancing Your Account
- Keep a running total of the money in your account in your check register as you record your transactions.
- Use Digital Banking or your monthly statement to check off transactions that have cleared or posted to your account.
- Compare your balance on your register with the balance you get from us. We may not show the same balance as your register since your account may still have pending transactions that have not posted.
- To balance your account, you will need to consider the debits and credits that have not yet posted (pending transactions), as well as transactions you have made that have not reached the financial institution at all. You may also need to consider any holds on your account, including check holds and preauthorization holds.
Some financial institutions may provide two balances. The current balance (sometimes called ledger balance) does not include any pending transactions. The available balance may include pending transactions. We provide both balances for Digital Banking and at the ATM. We provide the current balance for TeleBanking.
Before Making a Purchase Arrow pointing Down
Keep these guidelines in mind when you are planning to make a purchase or write a check.
When Does a Transaction Post?
|ATM Withdrawal||Typically posts within a business day.|
|Point of Sale Transaction||Debit (PIN) transactions typically post more quickly than transactions you authorize with your signature. Depending on the merchant, debit transactions may post immediately or within a business day.|
|Teller withdrawal at your institution||Typically posts the evening it is processed.|
|ACH Debit||Typically posts the day you schedule it to pay|
|Electronic Bill Payment||The money is taken out of your account first, then it may take one or two days to get to the person or company you are paying if the payment is done as an ACH or up to five days if a paper check is cut.|
|Check written to a merchant or individual||Typically posts in one to three days from the time the merchant or individual cashes your check.|
|Deposit (cash)||Typically posts the evening the transaction was processed.|
Remember to Record Fees
Be sure to review your account opening documents or go to our website to verify all fees:
- Monthly Maintenance Fee and/or requirements to waive Maintenance Fee
- ATM fees
- Overdraft fees
Check Writing Checklist Arrow pointing Down
- Do you have enough money in your account to cover the check? (Think current vs. available balance.)
- Did you write the check in ink? (Remember, it’s a legal document.)
- Did you write the correct date on the check? Checks may not be accepted if they are written with a future date.
- Did you totally fill in the “pay to the order of” line?
- Did you make sure the numeric and written amounts of the check match?
- Did you sign the check just like you did on your signature card at the financial institution?
- Did you record the check in your check register?
- Did you record any associated fees?
- Did you tell others on the account you have written the check so they don’t overdraw the account?
Things to Know About Overdrafts Arrow pointing Down
An overdraft occurs when there is not enough money in your account to cover a transaction when it posts to your account. Overdrawing your account and having checks or electronic payments returned can be embarrassing and cause a lot of inconvenience. Returned items can lead to additional fees, such as merchant fees (returned check fees) and late fees, or even the loss of checking writing privileges.
- Overdrafts can be caused by any type of transaction (check, debit card purchase, ACH, ATM).
- If a check or electronic payment is returned, you are responsible for the amount of the transaction, plus any fees associated with the returned item.
How to Avoid Overdrafts
- Use the tips provided in this guide.
- Consider Overdraft Protection Services.
Overdraft Protection (check with us for details)
- Auto Transfer (or sweep)—moves money from another account linked to your checking account to cover overdrafts. There may be a fee associated with the transfer.
- Overdraft Line of Credit—a loan that draws a pre-set amount or only the amount needed to your checking account to cover overdrafts. In addition to interest on the loan, there may also be a transfer fee and/or annual fee for this service.
- Kish Courtesy Overdraft Program—an optional service that can pay overdrafts up to a pre-set limit and assesses a fee.
- While your account may automatically provide Kish Courtesy Overdraft Program coverage for checks, in-branch transactions, recurring debit card transactions, ACH transactions, and digital banking account transfers and bill payments, you must request coverage for non-recurring debit card and ATM transactions by opting-in.
- Contact us to find out how you can opt-in.
- We will provide you with a written confirmation of your consent to opt-in.
- You can change your opt-in request or completely opt-out of the Kish Courtesy Overdraft Program at any time by contacting us.
How We Can Help Arrow pointing Down
Putting Money in Your Account
- Direct deposit
- Convenient lobby hours
- Drive-up windows
- Deposits at ATMs
- Digital banking and TeleBanking transfers
- Mobile deposits with the Kish Bank app
Please refer to our Funds Availability Policy for our daily cut-off times.
Taking Money Out of Your Account
- Convenient lobby hours
- Drive-up windows
- Kish Bank ATMs—view our locations or log into Digital Banking to find the ATM that is the most convenient for you.
- Debit cards—pay for your purchases and get cash 24-hours a day, 7 days a week, anywhere MasterCard® is accepted.
- Digital Banking—a convenient way to access your funds to make account transfers, bill payments, person-to-person payments, and much more! Sign up today.
- TeleBanking transfers
Keeping Track of Your Account
- Digital Banking—view account balances, transactions, and eStatements.
- TeleBanking and ATM balance inquiries
- Text and email alerts—receive alerts for a number of actions on any of your accounts or cards.
Glossary of Terms Arrow pointing Down
|ACH||The system that connects banks and credit unions to one another and enables electronic transactions, such as automatic payroll deposits, debit card purchases, and online bill payments to be handled and processed across financial institutions.|
|ACH Auto-Debit||Any transaction that you authorize to be paid automatically using your checking account number and your bank’s or credit union’s routing number, such as a utility or car insurance bill.|
|Available Balance||The maximum amount of money you can withdraw or spend from your account today. This balance may or may not include any pending transactions you have made. If your bank or credit union does not include pending transactions when calculating your available balance, be sure you have made those calculations yourself when you consider making withdrawals or purchases.|
|ATM Fee||A fee charged by a bank or credit union for using their ATM to check your balance, withdraw cash or use other services. Most banks and credit unions will charge you a fee if you are not their customer or member. Some banks and credit unions will charge you a fee for using another bank’s or credit union’s ATM.|
|Bounced/Returned Check||A check that has been returned to the person or business you wrote it to because there is not enough money in your account to cover the amount of the check. This also applies to payments made through online bill pay.|
|Check Hold||A delay in crediting the money from a check you deposit to your account. This allows the financial institution to make sure the check properly clears the account of the person or company who wrote the check. Examples include checks for large amounts or from out-of-state banks or credit unions. There may also be check holds on your account when your account is new.|
|Credit||Any transaction that increases your balance, such as a deposit, direct deposit, refunds, transfers from other accounts, etc.|
|Current (or Ledger) Balance||The balance which reflects all transactions that have cleared (or posted to) your checking account, but does not include any pending transactions that will affect your balance soon.|
|Debit||Any transaction that decreases your account balance, such as an ATM withdrawal, debit card transaction, check, transfer to another account, or service fee.|
|Debit Card||A card, typically carrying a brand or logo such as Visa or MasterCard on the front, that is issued to you by your bank or credit union. Your debit card can be used to make purchases at merchants and also to withdraw cash, check your balance, and make transfers at ATMs. The amount of a debit card transaction is deducted directly from your checking account (not to be confused with a credit card).|
|Deposit||Money you or someone else (like your employer) puts in your account.|
|Debit Card Transaction||Any transaction that you authorize using your debit card number. Examples include:|
|Direct Deposit||Having money, such as paychecks and Social Security checks, automatically and electronically put into your account. With direct deposit, you don’t physically deposit a check into your account, which saves time and ensures the deposit is made on time.|
|Online Bill Pay||A method of conveniently paying your bills using your bank’s or credit union’s website and digital banking service.|
|Overdraft or Insufficient/ Non-Sufficient Funds (NSF)||When there is not enough money in your account to cover your purchases, withdrawals, debit card use, checks, or other debits.|
|Overdraft Fee||A fee that your bank or credit union can charge to your account any time you do not have sufficient funds available in your account to cover the amount of the transaction when it posts.|
|Overdraft Transfer Fee||When you have another account linked to your checking account, this is the fee you may pay to have money transferred automatically to keep from overdrawing your account.|
|Pending (or Pre-Authorized) Transaction||A transaction that hasn’t been posted to your account yet. Pending transactions may give the appearance that an account has more or less money in it than it actually does.|
|Point of Sale (POS)||Any transaction made at a merchant with your debit card. There are two types of POS
|Posting||The process of clearing transactions on your account.|
|Posting Cut-off Times T||The time when the financial institution’s processing day ends. Transactions made after the posting cut-off time will be processed with the next day’s transactions.|
|Pre-Authorization Hold||A specific dollar amount that some merchants (usually hotels, rental car agencies, gas stations and restaurants) charge to your debit card to verify that you have enough money to cover the transaction. This hold amount may be higher or lower than the actual purchase amount and will clear when the actual transaction posts.|
|Transfer||Moving money from one account to another account. Many transfers can be automatic between accounts at your financial institution.|