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    Parts of Bank Checks: Government Check or Warrant - Instruments Payable On Demand and Drawn by The

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    Tine
    This document describes the key parts of a standard bank check and different types of checks. The main parts of a standard check include the account open date, check written date, recipient, amount box, amount line, memo, signature, routing number, account number, and check number. The different types of checks are government checks, cashier's checks, teller checks, certified checks, traveler's checks, bank money orders, and personal money orders. Each type has distinct characteristics regarding who can issue it and how it functions as a financial instrument.

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    Parts of Bank Checks: Government Check or Warrant - Instruments Payable On Demand and Drawn by The

    Uploaded by

    Tine
    23 views3 pages
    This document describes the key parts of a standard bank check and different types of checks. The main parts of a standard check include the account open date, check written date, recipient, amount box, amount line, memo, signature, routing number, account number, and check number. The different types of checks are government checks, cashier's checks, teller checks, certified checks, traveler's checks, bank money orders, and personal money orders. Each type has distinct characteristics regarding who can issue it and how it functions as a financial instrument.

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    Finance: Bills & Coins

    Original Title

    Finance

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    This document describes the key parts of a standard bank check and different types of checks. The main parts of a standard check include the account open date, check written date, recipient, amount box, amount line, memo, signature, routing number, account number, and check number. The different types of checks are government checks, cashier's checks, teller checks, certified checks, traveler's checks, bank money orders, and personal money orders. Each type has distinct characteristics regarding who can issue it and how it functions as a financial instrument.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    23 views3 pages

    Parts of Bank Checks: Government Check or Warrant - Instruments Payable On Demand and Drawn by The

    Uploaded by

    Tine
    This document describes the key parts of a standard bank check and different types of checks. The main parts of a standard check include the account open date, check written date, recipient, amount box, amount line, memo, signature, routing number, account number, and check number. The different types of checks are government checks, cashier's checks, teller checks, certified checks, traveler's checks, bank money orders, and personal money orders. Each type has distinct characteristics regarding who can issue it and how it functions as a financial instrument.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    PARTS OF BANK CHECKS

     The Account Open Date - Depending on your bank you may or may not have this part on
    your check. This is just there as a way to reference exactly when the account was
    created.
     Check Written Date - This is where you’ll be putting the date that you write the check.
    For example 01/01/01.
     Recipient - The recipient is exactly that. It’s the person or business you’re writing the
    check to.
     The Amount Box - In this area you’ll jot down the entire amount in numerical form such
    as 1.00. There is no need for a dollar sign because it’s already there for you.
     Amount Line - This is the big line that is right below the Recipient area. Here you’ll write
    out the amount of your check. You’ll want to actually spell it out in this area just like in
    the example below. Filling-out-dollars-check
     Memo - The perfect spot to write down a reference about what your writing the check
    for.
     Signature - Throw down your best John Hancock here.
     Routing Number - Your routing number is the number that tells what bank your account
    is from.
     Account Number - This is your personal checking account number.
     Check Number - Last but not least you’ll find this number in the top right hand corner
    and the bottom of your check. It is the number of the check you’ve written. Like
    anything else it’s a way to keep track of what check number you’re on.

    TYPES OF BANK CHECKS


     Government check or warrant - Instruments payable on demand and drawn by the
    government, or on the government (i.e. Treasurer of the United States) is generally
    regarded as government checks. Warrants issued by a state or local government or
    governmental agencies are also treated as checks if they are payable on demand.
     Cashier check -A cashier's check is simply a bill of exchange or a draft drawn by a bank
    on itself. In many instances, cashier's checks are purchased by a customer of the issuing
    bank to be used for a payment when a check signed by an authorized representative of
    the bank is desired. The purchaser is not a party to the cashier's check unless he is
    named as payee or he adds his own signature or endorsement to the instrument.
     Teller check or bank draft - A teller's check is a draft drawn by a bank on another bank
    or payable at or through a bank. A "teller's check" is equivalent to the term "bank draft."
    A similar term is "banker's check," defined as a check where the drawer is a banker, or
    the duly authorized agent of a bank, and the check is drawn on funds either in the bank
    where he is an officer or agent or in a correspondent bank where his own bank has
    credit.
     Certified check - A certified check is a check accepted by the bank on which it is drawn.
    Acceptance may be made by the bank's signed agreement to pay the check as presented
    or by a writing on the check that indicates that the check is certified.
     Traveler's check - A traveler's check is a device intended to provide an instrument with
    the marketability of cash and the safety of a bank draft. This procedure makes it
    relatively easy to cash such an instrument where the owner-purchaser is not known to
    the cashing party and the purchaser is protected against loss of the instrument if it has
    not been countersigned.
     Bank money orders and personal money order -There are three parties to a money
    order: the remitter (payer), the payee, and the drawee. Another form of check now
    used and sold by banks, merchants, and others is the personal money order, or register
    check. Whereas bank money orders are often signed on behalf of the issuing bank,
    personal money orders generally have a resemblance to ordinary checks and are issued
    with unfilled blanks for the name of the payee, the date, and the signature of the
    purchaser. Only the amount is filled out at the time of issue and that is often done by
    check writer impression.

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