Huff! Puff! Hi friends, I am back with just another series of doubts on banking and money matters. I have listed them down to ask my friend, Mr. Nosy Mice. I hurriedly exited from the bank because I got scared there. The moment I entered the bank I was asked questions by the bank officers and I could not answer them. Well! I wasn’t scared of the questions but I was scared of all the new words like deposit, cheque book etc. So, I thought I should clarify my doubts before I take the next step of operating the account. In sheer excitement I walked briskly and here I am out of breath.

[balloon-r]Hi Mr. Nosy, I am glad to inform you that I did open an account in the bank branch just close to my house. But as always, I have a list of doubts hovering in my mind. There are some terms which I really don’t know what they mean. Can you help me understand these please?[/balloon-r]
[balloon-l]Hi my friend. Glad that you opened the account. I will surely help you clear all your doubts. Tell me what are your doubts and I shall clarify them one by one.
[/balloon-l]

[balloon-r]I went to the bank and the officer handed me this booklet. He said it’s a cheque book. What is a cheque book?[/balloon-r]
[balloon-l]The bank on opening an account provides you with a cheque book. This book may have 5 or more similar pages called cheque leaves. A cheque leaf can help you withdraw. You can also use this to make payments.
E.g. You can issue this cheque leaf to pay to your book store as a payment to all the books bought by you.[/balloon-l]

[balloon-r]Wait a minute. You just said something called withdraw. What does withdraw mean? Or what do we withdraw from the bank?[/balloon-r]
[balloon-l]Withdraw means to remove money from your bank account. It is also called as money withdrawal.
E.g. If you, my friend, want to buy an ice-cream from the shop, you will need money and when you check your pockets you discover you have no money or maybe less money for an ice-cream. So then, you will withdraw or remove the money kept in the bank account and pay the ice-cream shop keeper and eat your yummy ice-cream.[/balloon-l]

[balloon-r]But how will I withdraw the money ? Do I have to just walk-in the bank and ask them to give me my money?[/balloon-r]
[balloon-l]No. This is when you will be using your cheque book. You will fill all the details like your account number, date, etc. and then present it to the officer. The officer will check for the correctness and provide you the money.
E.g. It’s like in your school library, when you submit the library card for collecting the library book, the librarian will check the card and school records and issue a book of your choice. In the same way the bank officer checks the filled cheque with the bank records and then provide you your money from your account.[/balloon-l]

[balloon-r]Oh great! I have got this card. The officer told me it’s my “ATM Card”. What is this? And, how do I use it? [/balloon-r]
[balloon-l]This card is given by the bank along with the savings account that you open. This card helps to withdraw and deposit money in the account at an ATM kiosk i.e. a place where ATM machine is present.
[/balloon-l]

[balloon-r]My friend, Nosy, I understood what withdrawal is but can you also explain what does deposit mean?[/balloon-r][balloon-l]Deposit means to put the money in the bank safely.
E.g. You got some excess money and you want to avoid keeping it in your pocket or travel with it wherever you go. So, you can always take the money and go to your bank. The officer will offer you to fill a deposit slip, it’s just a paper asking all details like your name, account number and amount, and you my friend will have to fill it up and give it back. The officer will then check the details, count the money, see if it is matching with your amount mentioned in the deposit slip and put the money in your account. This is called as deposit in the account.[/balloon-l]

[balloon-r]Thanks, my friend. You really have clarified all my doubts and made it easier for me to carry out the basic money handling in the bank. Let me go right away and try withdrawing some money. But I will return with lots more doubts and I am sure I will find you right there to help me. See you soon![/balloon-r]
[balloon-l]See you yogi. Yes! I will be right here to help you. Bye.[/balloon-l]