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.

RELATED TERMS
  1. Checking Account

    A transactional deposit account held at a financial institution ...
  2. Cashier's Check

    A check written by a financial institution on its own funds. ...
  3. Traveler's Check

    A medium of exchange that can be used in place of hard currency. ...
  4. Bounced Check

    A slang word for a check that cannot be processed because the ...
  5. Rubber Check

    Another name for a "bounced check." A rubber check is a slang ...
  6. Eurocheck

    An alternative to the traveler's check, the Eurocheck was issued ...
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