Canceled Check
 |
Definition of 'Canceled Check'A check that has cleared the depositor's account and has been marked as "canceled" by the bank. A canceled check has been paid by the drawee bank and endorsed by the payee, the payee's bank, and the Federal Reserve Bank. Canceled checks can also be used as proof of payment. |
 |
Investopedia explains 'Canceled Check'In the past, canceled checks used to be returned to the bank account holder each month with their monthly statement. That is now rare, and most check writers receive scanned copies of their canceled checks while the banks keep the physical copies for safekeeping. Customers that utilize online banking can also access copies of their canceled checks via the web.A canceled check, like any other financial information, should be safeguarded and stored in a safe place as it contains your bank account and routing number. These two numbers together could be used by identity thieves to gain access to the funds in your checking account. |
Related Definitions
Articles Of Interest
-
5 Financial Lessons You Must Teach Your Kids
Teach your kids the relationship between work, money and achieving financial goals with these five simple lessons. -
Turn Small Savings Into A Big Nest Egg
Small changes to spending and saving habits can reap major rewards - with limited sacrifice. -
All About Banking
This tutorial will tell you everything you need to know about how checking and savings accounts work. -
The History Of The FDIC
Find out why this corporation was developed and how it protects depositors from bank failure. -
If I want to have some cash in a liquid account for unexpected emergencies, what is best? A savings account or another type?
It's always a good idea to keep some money set aside in a liquid form, but it's a double-edged sword, because the more liquid your money, the less it's earning. If you never have an emergency, ... -
3 Banking Moves You Should Make Before Traveling
Putting your finances in order should be one of your top priorities before traveling out of the country. -
Clearing Up Tax Confusion For College Savings Accounts
Put your kids through school without being hounded by the tax man. -
Besides a savings account, where is the safest place to keep my money?
Savings accounts are safe because investors' deposits are guaranteed by the Federal Deposit Insurance Corporation (FDIC) for bank accounts or the National Credit Union Administration (NCUA) for ... -
Changes To Your Checking Account
Checking accounts have evolved a lot over the years. Here are the five biggest changes that can affect your wallet. -
The Most Costly Banking Mistakes You Can Make
With changing and increasing fees, it can be difficult to avoid bank charges, but investing time in finding out what your bank charges, and when, can help you save money.
Free Annual Reports
