Check

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DEFINITION of 'Check'

A written, dated and signed instrument that contains an unconditional order from the drawer that directs a bank to pay a definite sum of money to a payee.

INVESTOPEDIA EXPLAINS 'Check'

In legal terms, a check is a bill of exchange where the drawee is a bank.

Check is spelled as "cheque" in some parts of the world.

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  3. Cashier's Check

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    A nine-digit numerical code used to identify a banking or other ...
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RELATED FAQS
  1. What months of the year typically have the highest float?

    Float creates a temporary distortion in a nation's money supply by counting the same funds twice. This occurs when checks ... Read Full Answer >>
  2. In what ways has technology helped to reduce float?

    Technological advances have reduced float by enabling faster processing of checks. Funds now spend less time waiting for ... Read Full Answer >>
  3. Why does float usually increase at the beginning of the week?

    Float is created by check-processing backlogs in the financial system. Checks await processing from one checking account ... Read Full Answer >>
  4. How does your checking account affect your credit score?

    Your credit report provides a snapshot for prospective lenders, landlords and employers of how you handle credit. For any ... Read Full Answer >>
  5. What should you bring to a bank to open a checking account?

    Opening a checking account is a fairly simple process. You choose a bank, show up, fill out some paperwork, provide some ... Read Full Answer >>
  6. What are the pros and cons of online checking accounts?

    Online banking offers a convenient alternative to keeping your checking account with a brick-and-mortar bank. With an online ... Read Full Answer >>
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