Join our Math Hackathon! - Dec. 11-12th, 2021

How to Withdraw & Deposit: Introduction

Edna and Jonah were having a wonderful meal.  “Edna, isn’t it good we opened an account in the bank and put our money there?  We don’t have to worry about robbers coming home now!” said Jonah with a sigh of relief.  Edna nodded and smiled.  However, lately she really wanted to go and do some shopping, with no money at home, she knew she had to go to the bank and get some money out of their account.

"Don’t forget to deposit this cheque for $5", Jonah reminded. 

So off she went to the bank and walked confidently over to the teller and said, “Hello, I would like to take money from my account.”

Transactions with the Teller

The teller replied, “I can help you with the withdrawal” .  Edna looked confused. She has no idea what “Withdrawal” meant. 

She said again, this time slowly, “I have money in the bank here in an account with my husband Jonah.  I want to take some money out and go shopping with it.” Then she added, “the money is MINE”.

The teller smiled and said “Withdrawal means taking money out of your account, Deposit means putting money into your account".

She took the cheque from Edna and Deposited into her account and then gave Edna the money she wanted.

She also gave Edna a receipt that showed that she had deposited $5 and withdrawn $7.

Edna was just about to throw away her receipt, when the teller shook her head and gave her an envelope.  “Keep your receipt in this envelope and write the month and year on it. This way, you can check it with your statement when you get it and if everything is the same, you can throw it away safely”.

“How clever” thought Edna!

The bank teller read her mind and said, “it is a rather good tip!  You may also get a debit card that allows you to get money from the ATM machine.  This way you can get money whenever you want!”

Edna could not believe how smart this lady was!  Such amazing advice!

She waited a few minutes until the teller made a card for her and then punched in her secret code “1-1-1-1” I will never forget that! She told the teller. 

With her bank card, she decided to try out the ATM.

Continue to Edna uses the ATM >>

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