Idea 4of 23Builds onOne account down, one account up
Gift cards and cheques
How are a gift card and a cheque different from cash?
Today you'll discover
- where a gift card's money comes from
- what a cheque tells a bank
- how to find what is left on a card
Think firstA $25 gift card buys an $18 book
The gift card holds $25. After the $18 book, what is left on it?
Decide first, then press Next. Read the left box before and after.
A gift card holding $25.00 pays a bookstore $18.00, leaving $7.00, with a note that the money was put on the card before and it works at one store. Then Grandpa's account with $400.00 pays Ava's account $50.00 by cheque: days later his shows $350.00 and hers $95.00. The last step asks about a $50 gift card and $32.40 of games.
See the whole ideathe big idea and the key word, in one place
The big idea
A gift card spends money put on it before; a cheque tells a bank to pay.
Compare themGift card: money already paid, one store, right away. Cheque: from a bank account, to any person, a few days later.
Easy to get wrongA cheque only works if the money is in the writer's account when the bank gets it.
Key words
- gift card
- a card with money put on it ahead of time, to spend at one store or a few
- cheque
- a signed note telling your bank to pay a person or business an amount from your account
Ready to use it?
- Find what is left on a gift card.
- Say how a cheque moves money.