Cashless payments: what is a check?

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

One of the methods of payment is a cash check. It is a payment order confirming the right of its holder to receive the specified amount of money from the bank. It is initially issued by the bank in the form of a special book, each sheet of which is an independent payment document.

To understand exactly what a check is, you need to see it at least once. The mandatory fields for this security are:

• name "check";
• the amount that the bank must issue to the bearer;
• name of the drawer and number of the current account from which the money will be paid;
• signature of the person who issued this payment order;
• place and date of compilation.

But it's not enough just to understand what a check is, you need to know the rules for filling it out. This document is always filled out by hand, in blue ink. The only exception may be the name of the issuing organization. In this place you can put a stamp with the name. Any mistake, blot or correction automatically invalidates the check: the bank will not accept it. Allthe necessary data must be entered strictly in the places provided for them, the handwriting must be legible. Employees should have no trouble trying to parse payment order details.

In addition, this document indicates the date of issue, and in order to avoid adjustments, it must be in two-digit format, for example, April 04. Everyone who has encountered the need to fill out this security and has seen what a check is, knows that it is also necessary to indicate the place of payment in it: this column contains the locality where the account holder is served.

The amount to be issued is written in words without any separators, kopecks are written in numbers, the name of the payment currency is written in full, without abbreviations. If there is still room to the end of the line, then it must be crossed out with two longitudinal lines. It is worth noting that each bank has a limit on the maximum amount of payments.

The last name, first name and patronymic of the recipient are entered in the dative case, the remaining space is also filled with a double dash. This paper must be signed as a last resort. You should not take risks and sign an unfilled payment order, because if it falls into the hands of an unscrupulous person who knows what a check is, you can lose a decent amount in your account.

Of course, many people make mistakes when filling out this document for the first time, confusing the necessary fields in places and making typos. But already repeatedthe operation usually does not cause any difficulties.

If the owner of a checkbook needs to know how to correctly fill out each of its sheets, then the bearer needs to know how to cash a check. In order to receive the money due, it is necessary to present it to the bank within ten days from the date of issue of this payment paper, while providing your documents. By the way, you can only receive the full amount indicated on the check, it is not allowed to withdraw it in parts.