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A cheque ( British English) or check ( American English ); is a document that orders a bank, building society (or credit union) to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The person writing the cheque, known as the drawer, has a transaction banking account (often called a ...
Literal meaning. Cheque writers are advised to specify the amount of the cheque before signing it. A blank cheque can be extremely expensive for the drawer who writes the cheque, because whoever obtains the cheque could write in any amount of money, and might be able to cash it (if the current account or checking account contains sufficient funds, and depending on the laws in the specific ...
A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a contract, which promises the payment of money without condition, which may be paid either on demand ...
A crossed cheque generally is a cheque that only bears two parallel transverse lines, optionally with the words 'and company' or '& Co.' (or any abbreviation of them) [clarification needed] on the face of the cheque, between the lines, usually at the top left corner or at any place in the approximate half (in width) of the cheque. [2] In the UK ...
CheckWriter is business software used to accept payments from customers, patients, members or subscribers. Unlike a physical device, the software facilitates check draft demand draft technology, and Check 21 Act regulations to emulate the check writer. The software prints a physical draft of a customer's checks that a business can then deposit ...
t. e. A transaction account, also called a checking account, chequing account, current account, demand deposit account, or share draft account at credit unions, is a deposit account or bank account held at a bank or other financial institution. It is available to the account owner "on demand" and is available for frequent and immediate access ...
A dishonoured cheque (also spelled check) is a cheque that the bank on which it is drawn declines to pay (“honour”). There are a number of reasons why a bank might refuse to honour a cheque, with non-sufficient funds ( NSF) being the most common one, indicating that there are insufficient cleared funds in the account on which the cheque was ...
Paycheck. A paycheck, also spelled paycheque, pay check or pay cheque, is traditionally a paper document (a cheque) issued by an employer to pay an employee for services rendered. In recent times, the physical paycheck has been increasingly replaced by electronic direct deposits to the employee's designated bank account or loaded onto a payroll ...
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