Check

A bill of exchange representing a draft on a bank from deposited funds that pays a certain sum of money to a certain person or party.

Check

A document in which the writer orders his/her bank to pay to the receiver of the check a stated amount of money. For example, Joe may write Andrew a check for $10. In doing so, Joe is signing a document stating that he wishes to give Andrew $10, that it is available in Joe's bank, and Andrew can receive it from there. Andrew can either go to Joe's bank, present the check, and collect $10, or he may go to his own bank to deposit the check into his own account. In that case, Andrew's bank contacts Joe's bank and collects the $10 that way. Checks can be for any amount. See also: Check hold.

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References in periodicals archive

At both types of institution, monthly fees and average minimum balances are clearly higher for this type of account than they are for any of the listed noninterest checking accounts.

Recent trends in retail fees and services of depository institutions

The first of these accounts we have termed a "single-balance, single-fee, noninterest checking account." This account pays no interest and imposes no fee if a minimum balance is maintained; otherwise the account incurs a single monthly fee but no charge per check.

Statement by Susan M. Phillips

For example, if you agree to have your check directly deposited, you might get no-fee checking or some other benefit from your company, says Michael Moebs, chairman of Moebs Services, a Lake Bluff, Illinois, firm that provides information on bank fees to the Federal Reserve Board.

Is your bank robbing you blind?

On the other hand, commercial banks and other depository institutions still offer products for which there may be no close substitutes-namely insured checking, savings, and time deposits.3 If households cluster their financial services at insured depository institutions, or if insured checking, savings, and time deposits are distinct products and have no close substitutes, then the current practice of limiting banking markets to only commercial banks and comparable other depository institutions may be appropriate.

Banking markets and the use of financial services by households

If for example, a person bought stocks with Paine Webber, had a checking account at CitiBank and acquired items with an American Express card, at the end of the month, each transaction would be reconciled and tallied in a single statement.

Bells & whistles savings account

This takes the money out of your checking account and puts it back on the customer A/R.

Handling NSF and voided checks

She has a checking account that she sometimes uses to pay rent.

Finance on the Fringe: America's check cashers don't exploit the poor; they serve them

Presume further that Lemon would negotiate the checks by forging the endorsement of the lighting store, then endorsing her own name on the checks, subsequently depositing them in her checking account.

Enemies within: asset misappropriation comes in many forms. (The Fraud Beat)

[check] Mounts Plate Bolts: checking tightness, missing bolts.

Maintenance can help you get the most of permanent molds

That is why we zone-block the side into which we want to release a back, and man-block the back side with the back on that side checking before he releases.

Dropback passing: patterns, routes, protection

Checking against a negative file of known check offenders often is not enough.

Putting the choke on bad checks

You'll need a checking account to run your enterprise.

Five checking account mistakes to avoid