Search results
Results from the WOW.Com Content Network
Parties to regular cheques generally include a drawer, the depositor writing a cheque; a drawee, the financial institution where the cheque can be presented for payment; and a payee, the entity to whom the drawer issues the cheque. The drawer drafts or draws a cheque, which is also called cutting a cheque, especially in the US.
A cashier's check (or cashier's cheque, cashier's order, official check; in Canada, the term bank draft is used, [1] not to be confused with Banker's draft as used in the United States) is a check guaranteed by a bank, drawn on the bank's own funds and signed by a bank employee. [2]
A banker's draft (also called a bank cheque, bank draft in Canada or, in the US, a teller's check) is a cheque (or check) provided to a customer of a bank or acquired from a bank for remittance purposes, that is drawn by the bank, and drawn on another bank or payable through or at a bank. [1]
Cheque clearing (or check clearing in American English) or bank clearance is the process of moving cash (or its equivalent) from the bank on which a cheque is drawn to the bank in which it was deposited, usually accompanied by the movement of the cheque to the paying bank, either in the traditional physical paper form or digitally under a cheque truncation system.
In some cases the issuance of a NSF check may result in criminal prosecution of the drawer of the check. Criminal charges are more likely where the drawer can be shown to have issued the check knowing that it would not be honored. Charges are also more likely when the NSF check is for a large amount, or where the drawer issues multiple NSF ...
The check amount is written on the check twice, in numbers and words. Be sure the two amounts match. The check is signed in the right place by an authorized signer on the account.
A check punch punches holes in the shapes of numerals. A check perforator punches small round holes that form numerals. A check writer, or ribbon writer, leaves a numerical or written value impression in the payment amount field of a check that is very difficult to alter. This is accomplished by the machine applying downward force on the check ...
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!