Check

AAA

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. Demand Draft

    A method used by individuals to make transfer payments from one ...
  2. Electronic Check

    A form of payment made via the internet that is designed to perform ...
  3. Routing Transit Number - RTN

    A nine-digit numerical code used to identify a banking or other ...
  4. Share Draft

    A type of draft used in credit unions as a way to access funds ...
  5. Rubber Check

    Another name for a "bounced check." A rubber check is a slang ...
  6. Cashier's Check

    A check written by a financial institution on its own funds. ...
Related Articles
  1. Insurance

    Your First Checking Account

  2. Credit & Loans

    How Credit Cards Built A Plastic Empire

  3. Credit & Loans

    What’s the difference between overdraft ...

  4. Savings

    What are some examples of overdraft ...

Hot Definitions
  1. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  2. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  3. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  4. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  5. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  6. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
Trading Center