Braiding systems - information from the Internet. Bank check: purpose, types, application features Bank checks

Bank check- a security (payment document) that contains an instruction to the account owner to make a payment in favor of the bearer. It must be drawn up in a certain form and contain all the details necessary for making the payment.

Types of bank checks

One of the main features is the many types of bank checks. The main ones include :

1. Bank cash check- used for making cash payments. The document has a strictly established form and contains an order issued by the company to the bank. The essence of such an instruction is making a payment to the bearer (the amount is indicated in the document).

1. Calculated- a check used for bank transfer payments. Unlike the previous type, such a document implies an order to a financial institution to transfer money to a specified current account. There is a check like this:

• Covered (with a guarantee of payment by the drawer).
• Uncovered (guarantee provided by the banking institution).

1. Crossed check is a type of payment document. The peculiarity is the presence on the outside of two lines located parallel to each other. The essence of crossing is the possibility of application only in a certain circle. There are two types of such check:

• General (no marks between lines).
• Special (any word can be indicated, for example, banker).

Depending on the recipient, the check may be :

• Nominal- issued to a specific person. In this case, the money can only be received by the check holder.
• Warrant- can be transferred to other persons if there is such an indication (reflected in the security on the reverse side).
• Bearer- is transferred to any person who can subsequently cash out the funds in the bank.
• Bank check- a document issued and signed by the bank (used for making payments between credit institutions).

In widespread practice, almost all types of bank checks used in business are called “bank checks”.

Bank check: details

A bank cash check is part of a checkbook that is issued by a credit institution to a client. Such a document contains from 10 to 50 sheets. All forms are made according to the general sample and form established by the Central Bank of the Russian Federation. When making payments through the Central Bank of the Russian Federation, only crossed types of bank checks are used, which on the front side have two lines located parallel to each other, as well as the inscription “Russia”.

A bank check is considered valid if it contains such details :

• The name is "Check".
• An unconditional instruction to pay a specified amount.
• Payer details.
• The place where the payment will be made.
• Date and place where the check was issued.
• Signature.

If any of the details are missing from the security, the bank check may not be accepted by the bank.

Document validity period:

• In the CIS - 20 days.
• In the Russian Federation - 10 days.
• In other countries - 70 days.

The starting point is the day on which the security was issued.

How to cash a check?

Many people get confused when receiving a document and do not know how to turn a “piece of paper” into money. To cash a check, just contact your banking institution. In this case, the algorithm of actions may change depending on the currency of receipt - rubles or money of another country.

Which contains the order of the drawer of the check to his bank to make a payment of the specified amount to the check holder.

Types of checks

There are cash checks and settlement checks.

Cash checks are used to pay the holder of a check cash at a bank, for example, wages, economic needs, travel expenses, purchases of agricultural products, etc.

Payment checks- These are checks used for non-cash payments. A settlement check is a document of the established form containing an unconditional written order from the drawer to his bank to transfer a certain amount of money from his account to the account of the recipient of the funds (check holder). A settlement check, like a payment order, is issued by the payer, but unlike a payment order, the check is handed over by the payer to the enterprise - the recipient of the payment at the time of the business transaction, which presents the check to its bank for payment.

• personal- issued to a specific person;
• bearer- issued to bearer;
• order- issued in favor of a certain person or by his order, i.e. the drawer (endorser) can transfer it to the new owner (endorser) using an endorsement.

The check can be crossed. Crossed check- this is a check crossed out on the front side by two parallel lines. Only one cross is allowed on a check. Crossing can be general and special.

General crossing occurs when there is no designation between the lines or there is a “bank” mark. A check with general crossing can be paid by the payer only to the bank or to his client.

Special crossing is a crossing in which the name of the payer is written between the lines. A check bearing this crossing can only be presented to the bank whose name is indicated between the lines.

Check, drawer and check holder

A check is a document containing an unconditional order from the drawer to the bank to pay the amount specified in it to the check holder.

Check drawer- having funds in the bank, which he has the right to dispose of by issuing checks.

Check holder- the legal entity in whose favor the check was issued, the payer is the bank in which the drawer’s funds are located.

The procedure and conditions for the use of checks in payment transactions are regulated by part two of the Civil Code Russian Federation, and in the part not regulated by it - by other laws and banking rules established in accordance with them.

Check details

Checks can be used for both. can issue their own checks for non-cash payments. These checks are used by clients of the issuing bank, and interbank settlements can also be carried out using such checks. Checks must be issued in the prescribed form. RF installed list of check details, and the form of the check is determined by the credit institution independently.

Check details

The check must contain all the mandatory details established by part two of the Civil Code of the Russian Federation, and may also contain additional details determined by the specifics banking and tax legislation. The form of the check is determined by the credit institution independently.

• the name “check” included in the text of the document;
• an instruction to the payer to pay a certain amount of money;
• name of the payer and indication of the account from which the payment should be made;
• indication of payment currency;
• indication of the date and place of drawing up of the check;
• the signature of the person writing the check - the drawer.

The absence of any of the specified details in the document deprives it of the validity of a check.

The conditions for using the check are established by the Central Bank of the Russian Federation. When paying by check, clients enter into a settlement agreement among themselves. This agreement must specify the procedure for opening and maintaining accounts for settlements by checks. Methods and terms for transmitting information, the procedure for confirming the client’s check accounts, the obligations of the parties, etc. are drawn up. Each bank develops internal rules for check settlements, the content of the check form, conditions for payment of checks, settlement terms, execution of settlements, etc.

• 10 days - on the territory of the Russian Federation;
• 20 days - in the CIS;
• 70 days - if the check is issued in the territory of another state.

Only a bank where the drawer has funds that he has the right to dispose of by issuing checks can be indicated as the payer of a check.

Cancellation of a check after the expiration of the period for its presentation is not permitted.

The issuance of a check does not extinguish the monetary obligation for the fulfillment of which it was issued.

Paying a check

Submitting a check to the bank servicing the check holder, for collection to receive payment means presenting the check for payment. The check is paid by the payer at the expense of the drawer's funds. Funds from a collected check are credited to the check holder's account after receiving payment from the payer, unless otherwise provided by the agreement between the check holder and the bank. The drawer does not have the right to revoke the check before the expiration of the established period for its presentation for payment.

The payer of a check is obliged to verify the authenticity of the check by all means available to him. The procedure for assessing damages arising as a result of payment by the payer of a forged, stolen or lost check is regulated by law.

• By making a protest by a notary or drawing up an equivalent act in the manner prescribed by law.
• A note from the payer on the check indicating the refusal to pay it, indicating the date the check was submitted for payment.
• A note from the collecting bank indicating the date that the check was issued on time and not paid.

Protest(or an equivalent act) must be completed before the expiration of the check presentation period. If the check is submitted on the last day of the deadline, then the protest (or an equivalent act) can be made on the next business day.

The check holder is obliged to notify his endorser and drawer of non-payment within two business days following the day of the protest (or an equivalent act).

Each endorser must, within two working days following the day he received the notice, bring to the attention of his endorser the notice he received. At the same time, a notice is sent to the person who gave the aval for this person.

Those who fail to send notice within the specified period do not lose their rights. It compensates for losses that may occur due to failure to notify the dishonor of a check. The amount of indemnified damages cannot exceed the amount of the check.

If the payer refuses to pay a check, the check holder has the right, at his choice, to file a claim against one, several or all persons obligated on the check (drawer, avalists, endorsers), who are jointly and severally liable to him.

Check forms are produced according to a single template.

A check is a security. Check forms are considered strict reporting forms. For settlements through institutions of the Central Bank of the Russian Federation, only checks with the designation “Russia” on the front side and two parallel lines indicating the general crossing are used. The check must be covered. The cover of a check at the drawer's bank may be:

• funds deposited by the drawer in a separate account;
• funds in the corresponding account of the check drawer, but not more than the amount guaranteed by the bank in agreement with the drawer when issuing checks. In this case, the bank can guarantee to the drawer, in the event of a temporary lack of funds in his account, payment of checks at the expense of the bank.

Along with the checks, the bank issues the client an identification card (checkbook) in one copy, regardless of the number of checks, and identifies the drawer for each check. The card contains the name of the bank and its address, card number, name of the business entity or citizen, signature, account number and passport details of the drawer. The reverse side specifies the conditions under which payment of the check is guaranteed. Such conditions are as follows:

• the check can be issued for an amount not exceeding the specified limit;
• the drawer's signature must match the sample signature on the card;
• identification of the drawer is carried out by comparing his passport data with the data indicated on the check card;
• the check must be paid in the full amount for which it is drawn, without any commission.

Payments by checks

Payments by checks are carried out according to the scheme (Fig. 6):

1. the buyer submits to the bank servicing him an application for receipt of checks and a payment order for the deposit of amounts (if it is carried out) or an application in duplicate for the purchase of checks, the payment of which is guaranteed by the bank;
2. in the bank serving the buyer, funds are reserved in a separate account and checks are filled out, i.e., the name of the bank, personal account number, name of the drawer and check amount limit are entered;
3. the buyer is issued checks and a check card;
4. the seller presents the buyer with documents for the shipped products (work performed, services rendered);
5. the buyer issues a check to the seller;
6. the seller presents the check to the bank servicing the seller when registering checks;
7. the bank servicing the seller credits funds to the seller’s account;
8. the seller's bank presents a check for payment to the bank servicing the buyer;
9. the bank servicing the buyer writes off the amount of the check from previously reserved amounts;
10. Banks issue bank statements to clients.

Checks in interbank settlements

Checks issued by credit institutions can be used in interbank settlements on the basis of agreements concluded with clients and interbank agreements on settlements by checks in accordance with the internal bank rules for transactions with checks, developed and defining the procedure and conditions for the use of checks.

Checks credit institutions can be used by clients of the credit institution issuing these checks, as well as in interbank settlements in the presence of correspondent relations.

An interbank agreement on settlements by checks may provide for:

• conditions for circulation of checks when making payments;
• the procedure for opening and maintaining accounts that record transactions with checks;
• composition, methods and timing of transmission of information related to the circulation of checks;
• the procedure for supporting accounts of credit institutions participating in settlements;
• obligations and responsibilities of credit institutions - participants in settlements;
• procedure for changing and terminating the agreement.

Internal bank rules for conducting transactions with checks, defining the procedure and conditions for their use, must provide for:

• form of the check, a list of its details (mandatory, additional) and the procedure for filling out the check;
• list of participants in settlements with these checks;
• deadline for presenting checks for payment;
• check payment terms;
• conducting settlements and composition of check circulation operations;
• accounting registration of transactions with checks;
• procedure for archiving checks.

A bank check is a financial document used in payments instead of cash, credit and debit cards. Bank checks also go by other names. They may be called a banker's draft, treasury's check, traveler's check, etc. The peculiarity of bank checks is that their face value is covered by the financial institution that issued them, and not by the bearer. This circumstance makes them a fairly safe means for making monetary payments, although cases of fraud with them are becoming more and more common.

Bank check form

Each financial institution has its own form of bank checks indicating its details, but in all cases, when filling out a bank check, it must at a minimum display the name and location of the organization that issued it. For increased protection against counterfeiting, watermarks are used on the forms, and on the front side it is specifically indicated that this is a bank check.

All forms must indicate the recipient of the payment, the amount to be paid, and the name of the sender of the payment. According to the filling rules, a bank check in mandatory must have at least one regular or facsimile signature of an official representative of the financial institution issuing the check. It is also necessary to have an issue date with the validity period of the bank check, because This may determine whether the recipient (beneficiary) of the payment will be able to cash it.

Using bank checks

To receive a bank check, the purchaser must pay its face value. Payment is made to the financial institution issuing the check. As a rule, this is the bank in which the recipient of the check has a personal account. From the moment the check is paid, the bank becomes responsible for paying the amount of money indicated on it. In the business world, payments by bank checks are considered a relatively safe method of payment.

Purchasing a check from the same bank where the buyer has an account does not cause any difficulties or suspicions, because A bank employee can immediately check the availability of funds in the account. Banks are wary of cases when someone tries to purchase their bank check by paying it with a check from another bank. Before debiting funds from a bank account for the purchase of a check, bank employees always thoroughly check the identity of the account owner.

Some banks provide their clients with the opportunity to purchase international bank checks, with denominations denominated in the main currencies of the world. People use such checks to pay business partners abroad or to transfer money abroad to family members and friends. The main function of international bank checks remains the same as regular checks, but they may take longer to cash.

Typically, regardless of whether it is an international bank check or a regular check, companies and individuals only use them when the payment amount exceeds $5,000. This is explained by the fact that the larger the amount included in the calculation, the greater the desire to secure the transaction. For smaller amounts, classic checks are used instead of bank checks. Money transfers, but they are no longer as safe for the buyer as bank checks.

Commission

Quite often, when purchasing a bank check, the buyer must pay some commission to the bank. The amount of commission can be expressed either as a percentage of the check value or as a fixed amount. Typically, the commission amount for this service insignificant. The status of the bank and its attitude towards its clients can also influence the amount of commissions.

Payments by bank checks

Cashing a bank check is no different from regularly withdrawing money from a bank account. The holder of the check must first sign the back of the check. Then, upon visiting his bank in person, he can order the transfer of an amount equivalent to the face value of the check into his bank account, or do it himself through an ATM. If the recipient wants to receive the amount in cash, then he needs to contact the bank teller-operator.

The validity period of a bank check is 90 - 120 days from the date of its issue. Typically, payments on bank checks are made the next business day, but due to the increasing incidence of fraud, many financial organizations delay payment of checks with denominations greater than $10,000 US dollars for up to two weeks, and use this time to verify the authenticity of the bank check.

Bank check users

As a rule, banks issue checks to any interested party who can pay their face value. The ability to pay in cash gives an advantage to those who do not yet have an open bank account. Organizations and individuals apply for bank checks in cases where it is necessary to quickly make any large money transfers. Such cases may arise, for example, in real estate transactions, where paying with a large amount of cash may be inconvenient and sometimes unsafe, and the entire transaction depends on the promptness of payment.

Popularity of bank checks

Bank checks are not as popular in Russia and the CIS as, for example, in the USA or Western European countries. In developed countries, in order to ensure payment security, organizations sometimes require that large payments be made by bank checks. A car dealership, for example, may ask for a bank check as a deposit for a car, and a real estate agency as an advance payment for the property being purchased. Due to the fact that the amounts of such payments are quite high, in an attempt to protect themselves from possible fraud, companies resort to bank checks.

Bank check fraud

There are more and more cases of bank check fraud. A rather strong impetus for this was the development of the Internet. One example is the case of fraud when making purchases in an online store. The seller is sent a scan of a bank receipt with a denomination 30% higher than the purchase amount. The buyer asks to send him the goods urgently, because... the matter is urgent and he has no time to wait. For urgency, he is ready to pay 30% more, which the seller will receive later, when cashing the check. The scan of the receipt sent by email looks very beautiful and believable, but in fact it turns out to be a high-quality fake. When the fact of fraud becomes known, the goods, as a rule, have already been sent to the buyer, and canceling the shipment seems very difficult, and sometimes impossible.

Another popular fraud scheme is a request for an urgent transfer of cash to a current account. For example, someone old, distant acquaintance calls you and says that he urgently needs to make a certain purchase, but he does not have cash and his bank card is empty. He offers you a profitable deal, namely, through the same e-mail, he will send you a photo of his bank check with a denomination significantly higher than the required amount, and a promise to send the original check by regular mail as soon as possible. You, in turn, must immediately transfer the funds to his bank card, and for the inconvenience caused, you will be rewarded with the difference between the amount sent and the amount received when cashing the check at the bank. In fact, you will either never receive anything at all, or you will receive the exact same fake.

You can avoid fraud by refusing to accept bank checks from people, organizations and banks that you don’t know well or don’t know at all. If they assure that the check is real and has payment force, then at your first request they should not hesitate at all to confirm and prove that the data and details indicated on the check are valid.

First of all, a bank check is a document. Therefore, the attitude towards each check issued must be appropriate. You definitely need to know to whom, when and for what amount you wrote checks.

A check is an order.

Announcement

When you write a check, you instruct your bank to take the amount indicated on the check from your account and give it to the person or organization in whose name the check is written. The fact that it was you who wrote the check is confirmed by your personal signature on the check.

Checks, which are used by ordinary people, not organizations, are usually issued in the form of a book - there are two-layer checks, so that when each check is written, a copy of it remains in the book, and single-layer checks. Check books must be purchased from the bank (in a branch or through online banking). Books with single-layer receipts are slightly cheaper.

Checks are tied to a specific account, the number of which is printed in a special font on each check. Therefore, if a person has several accounts from which he pays for something using checks, then he will have several checkbooks.

Checks may have different designs and colors (you can select this when ordering checks), but all fields and their location are always the same for different checks.

Sample of filling out a check

You need to fill out the check with ink or a ballpoint pen. Corrections to the check are not allowed. Labels must be made legibly. The signature should be placed last.

1.Your name and address. The blank checks you buy from the bank will have your name and address already printed on them. The very first sample checks that you will be given free of charge when opening an account will not have your name and address - don’t pay attention to that.

2. Date of filling out the check. The date format is American, that is, first Month, then Date, then Year. For example, May 9, 2013 or 09/05/2013.

3. The name of the check recipient is the person to whom the check is made out. This is where you write the First and Last Name of the person or company you are paying money to with this check: for example, John Smith or Smith & Wesson Company.

4. Amount in numbers. Cents are separated by a dot: 50.00 or 1234.56

5. Amount in words. Fill it out like this: write dollars with a capital letter, then and, cents and /100. Example for 1000 dollars: One thousand and 00/100. The remaining empty space is crossed out.

6. The name of your bank and its address is always pre-printed on the check.

7. Purpose of payment. You don't have to fill it out.

8. Your signature. Signing a check means you acknowledge and authorize the payment.

9. Receipt number. Always already printed. This number is important if you maintain a register of checks issued.

10. Account Number. This is your account number. It is always printed on the check in a special font.

11. Bank Routing Number (RTN). This is your bank's unique number. Each bank in the United States has a unique number (sometimes several numbers) - this number is needed to know which bank you have an account with.

How to cancel a check

You can only cancel a check that has been issued if it has not yet been cashed.

There must be a reason for canceling a check, which will have to be explained to the bank clerk. The reason may be that the recipient lost the check or did not provide the service or product you paid for.

Stopping payment on a check is a paid and quite expensive service; the bank will charge you from 10 to 30 dollars for this.

To cancel a check you have written, you must:

1. Find a copy of the check in your checkbook, or check register entry, or print a copy if you made the payment online.

2. As soon as possible, contact the bank whose name is printed on the check issued. This can often be done over the phone or online (if your bank allows it). Provide your account number, the check number, the amount for which the check was issued, as well as the name of the recipient (or the name of the recipient company) and the reason for cancellation. Or you can go to the bank and ask the teller to stop the check, providing him with a copy of the check and proof of your identity. Explain to him why you want to stop payment on this check.

3. Be sure to save information about the canceled check, as well as the date of cancellation.

In fact, what happens is not a complete cancellation of the check, but a suspension of payment on it.

The stay usually lasts 6 months, after which the recipient will be able to cash the check. After 6 months, you can come back to the bank and suspend the check for another 6 months. The bank will tell you what other options you have to avoid paying this check.

If you have lost your checkbook, it is best to completely close the account to which it was issued and open a new one, where to transfer money from the old one.

Payments by checks

Check - a written order from the payer (check drawer) to his bank to pay from his account to the check holder (check holder) a certain amount of money.

There are cash checks and settlement checks.

Cash checks are used to pay the holder of a check cash in a bank (for example, for wages, household needs, travel expenses, purchases of agricultural products, etc.).

Payment check- this is a document of the established form containing an unconditional written order from the drawer to his bank to transfer a certain amount of money from his account to the account of the recipient of the funds (check holder).

Checks are used by both individuals and legal entities, act as a means of payment and can be used for settlements in all cases provided for by the laws of the Russian Federation . Settlements by checks between individuals are not allowed.

A check is convenient for payments in the following cases:

• when the payer does not want to make a payment before receiving the goods, and the supplier does not want to transfer the goods before receiving a payment guarantee;
• when the seller is not known in advance.

When purchasing goods or receiving services, the enterprise (through an authorized representative) issues a settlement check and transfers it to the supplier-recipient of funds (Fig. 3.1).

Glossary of terms

After checking the correctness of the check details and compliance with their validity periods, the bank credits the amount indicated in the check to the account of the recipient of the funds, debiting it from the account in which the funds are deposited, from the current loan account (if the book is issued under a bank guarantee).

Rice. 3.1 Payments by checks:

1 - the buyer sends an application to the bank to issue a checkbook;

2 - the bank issues him a checkbook (one-time check);

3 — shipment of goods and provision of services;

3a - payment for goods by check;

4 - the supplier presents the check to the bank for payment and the latter debits the funds from the buyer’s account and credits them to the supplier’s account

In world banking practice, depending on who is indicated as the recipient of the payment, checks are divided into personal, order, and bearer.

Payment by personal check can only be made in favor of the person indicated on the check, by order — both in favor of the person indicated on the check, and by his order (executed on the back of the check) to another person, by bearer — in favor of any person presenting the check to the bank. Personalized checks are not transferable. Bearer documents - can be transferred to another person by simple delivery, order documents - by issuing an endorsement (endorsement).

A settlement check issued by a Russian bank is circulated only on the territory of the Russian Federation.

A check serves as a security . Check forms are strict reporting forms.

To receive settlement checks, the client contacts the commercial bank serving him with an application in the prescribed form, which indicates the number of checks and the amount of the total need for settlements by checks.

The document flow when making payments by checks is as follows.

In the case of the purchase of goods and services, the drawer issues a settlement check, putting in the following data:

— payment amount (in numbers and in words);

— name of the payment recipient;

— place where the check was issued;

— date of payment (in this case, the month is indicated in words).

The issued check is certified by the signature of the drawer immediately at the time of payment (handing over the check to the payee).

The check must be presented for payment to the bank office within ten days, not counting the day of its issue.

The checkbook consists of check forms “Settlement check”, bound in standard books of 10, 25 and 50 sheets.

Checkbook forms are documents of strict accountability and their form is established Central Bank RF. The check book limit is limited to the amount of funds pre-deposited with the bank in a separate bank account.

Along with your plastic cards, you will probably receive a box of cashier's checks from your bank or credit union. You are unlikely to have used them in Russia, so you need a story about what they are and why you need them.

Checks have remained in America and other countries since those distant times when there was no electronic banking and plastic cards, but nevertheless there were banks and people kept their money in them. To pay each other, in stores for purchases and in other organizations, bank checks were invented. In fact, it is a written receipt in which the person (or company) who wrote the check instructs his bank (the issuer of the check book) to pay the person named as the payee on the check the specified amount.

Nowadays, checks are rarely used, but nevertheless they are quite convenient in situations where you have to pay a sum of money, especially a large one, to a person located far from you, but do not want to give him your bank card number. By writing a check and mailing it, you hand over the money without the hassle of sending cash. First, only the person or organization whose name appears on the check can receive money from your check. Secondly, the actual transfer of money will occur in accordance with the rules of bank transactions when cashing a check - the money cannot disappear into nowhere. Thirdly, the fact of transferring money will be recorded in your bank account statement and will serve as documentary evidence of payment for the goods or services.

Please note that there is another type of check - cashier's check, which is issued by the bank. This article deals with checks issued by private individuals, which is why they are called personal checks.

How to fill out a check

A check is a form made of special paper with anti-counterfeit elements. There are many check design options, differing in background image and other design elements, but all checks have the same size and layout of information fields (this simplifies their automatic processing, see below). At the top it shows the name and address of the owner of the check, details of the issuing bank and the serial number of the check. The bottom shows the bank's transit number, account number and check serial number. The remaining space is intended to indicate the recipient, amount and other details.

Now let's learn how to write a check, following the steps indicated by red numbers.

1. Write the date using MM/DD/YYYY format (two digits each for the month and day, then four digits for the year). Usually today's date or the date of the transaction is written. Please remember that a check can only be presented for payment within a limited time (eg 90 days) from the date printed on it. So, today's date is written as 09/10/2018 .

2. Specify the recipient of your money. If this is a person, then write his full name (first name, first letter of the middle name, if any, last name). If an organization, its exact name. A check without a payee is equivalent to cash—anyone can write themselves in and cash the check. Therefore, you should not issue checks “to bearer” unless absolutely necessary.

3. Write the amount in numbers, separating dollars from cents with a dot, for example 1532.75 . If the amount is a whole number of dollars, enter two zeros after the period. Required condition: the number should start at the left edge of the light rectangle, so that an attacker cannot correct your check by adding a 1 or something worse at the beginning of the amount.

4. Write the same amount in words (words). Start at the very beginning of the line and with a capital letter. Write the number of dollars, then put the word and and write the number of cents as a fraction XX/100. In our example, the amount will be written like this: One thousand five hundred thirty two and 75/100. Then draw a line to the word DOLLARS at the end of the line so that nothing can be added.

For those who are not very confident in their knowledge of English numerals, we have made a small program that helps to write numbers (up to one hundred thousand) in words. Enter the amount in the field on the next line and click the "Print" button.

5. In the FOR or MEMO field on some checks you can enter brief information about the purpose of the payment. It is not processed by the bank and is only needed for the convenience of the check recipient. For example, your account number with your service provider or your invoice number. Usually the bill specifies what to write on the check.

6. Finally, put your signature on the check. But first, check all the fields and make sure the check is filled out correctly.

How to use personal bank checks

After signing, carefully separate the check from the perforations and give (send) it to the recipient of your money.

For the convenience of accounting for expenses, checks are usually issued with duplicates: under each check there is a form of self-copying paper, on which, after filling out the check, a copy of what is written remains. For security reasons, the signature space on the duplicate is filled with chaotic shading, and the account numbers and bank transit number are also missing. To avoid damaging the duplicate of the next check when filling out a check (this is possible with strong pressure), there are special holders for checks with a plastic bookmark. It must be placed under the duplicate of the check being filled out, then the pressure of the pen will not go further.

Also included with checks is usually a payment register - a small notebook with special tables where you can mark issued and cashed checks, calculate the account balance, that is, keep track of the movement of funds in the account. All this was inherited from the pre-electronic banking era, when there was no online banking and other automatic account management services.

How to cash a check

If you received a check (such as a paycheck, before setting up direct deposit), you need to present it for payment (deposit) to receive the money. You have two options: cash the check and receive cash, or take the check to your bank and ask for the money to be credited to your account. In the first case, you will most likely have to pay a commission. In the second case, the check deposit transaction is usually free of charge.

The first step after receiving the check is to turn it over and sign it in the indicated place on the reverse side (the box that says ENDOORSE HERE along one of the short sides). Then, depending on your desired check cashing method, you can:

1. Take the check in person to a bank or check cashing office - a commission will be charged at the office, banks cash checks for free
2. Deposit a check using an ATM that supports this feature - it must be an ATM at the bank where you have an account. Simply log in using your debit card, then select DEPOSIT from the menu and follow the on-screen instructions
3. Mail a check to your bank (if your bank provides this service)

For example, SF Fire Credit Union allows you to apply to deposit checks through online banking, then print a prepaid envelope and mail a signed check. Usually within 1-2 days the check will be received and processed.

Good to know

If you lose a check (or have it stolen) or change your mind about paying a check, you can put a hold on the check by using online banking or by visiting a bank branch. However, if you submit a check to pay for a product or service and then block it, the seller may charge you a service fee for processing the invalid check.

Most online banks not only display a record of your check being presented for payment, but you can also view an image (scan) of the check.

Other articles in this section

Payments by checks

A check is a security document on a standard form. When making payments by check, the drawer gives a written instruction to the bank serving him to transfer the amount of money indicated in the check from his account to the account of the recipient of the funds.

The main function of a check is payment; payment of a check does not require bank acceptance.

In Russian practice, payments are made using checks stamped “Russia” and checks from limited checkbooks. Since November 15, 1992, due to abuses in the practice of settlements with checks, the use of “Russia” checks was limited within the boundaries of one city, and a procedure for recording, storing and issuing checks by number was introduced. The payer for this check is the Bank of Russia. To carry out transactions on checks in one cash settlement center (specially provided for these purposes), a commercial bank opens separate personal accounts. Commercial banks can issue checks to businesses and organizations only after depositing funds in a designated account, and then these funds are transferred to personal accounts in a cash settlement center.

After the check holder presents the check to the bank to receive payment, the bank sends the check to the cash settlement center. The latter debits the amount of the check from the account of the paying bank and credits it to the commercial bank servicing the check holder. This procedure for crediting funds by check to the check holder’s account after receiving payment from the payer is reflected in the Civil Code (Art.

Cashing bank checks

Thus, the funds of the client and the bank are frozen in the Bank of Russia for the entire period of use of the checks, which is unprofitable for them.

Calculations from limited checkbooks presuppose that the company has a checkbook. It is issued by the servicing bank based on the client’s application in the prescribed form. Along with the checkbook, the client receives an identification card necessary to identify the drawer for each check issued by him. The card indicates the limit amount for which a check can be written. The checkbook limit amount is deposited in a separate account by transfer from a current account or from a loan. Money is credited to the check holder after the checks are cleared by the drawee bank from a separate account of the drawer, i.e., on the basis of collection transactions of the check holder's bank.

The validity period of a limited checkbook is determined by an agreement between the supplier and the buyer and is communicated to the bank. If a check is issued after this period, it is considered invalid.

The check form must indicate:

♦ name of the bank and its location;

♦ personal account number of the check drawer;

♦ name of the check drawer;

♦ conditional bank number;

♦ size limit amount for which a check can be written.

The check limit amount is indicated in numbers and in words, certified by the seals and signatures of bank officials.

The company accepting checks must ensure that:

♦ the amount of the check does not exceed the maximum amount indicated on its reverse side and on the check card;

♦ the drawer's account number indicated on the check corresponds to that noted on the check card;

♦ the drawer’s signature placed on the check at the time of filling it out is identical to the signature in the checkbook.

The check must be presented to the bank for payment within 10 days (not counting the day of its issue).

Scheduled payments

Such calculations are used by counterparties who have permanent, traditional relationships. The essence of the calculations consists in periodic payments from the buyer to the supplier as goods are shipped, for example, once every 3-5 days, and not for each delivery separately. A payment order submitted for each scheduled payment and upon final repayment of the debt can be used as the main payment instrument.

The agreement between the supplier and the consumer stipulates the duration of the billing periods, the amount of scheduled payments, the timing of their transfer and clarification of the debt, taking into account the actual supply of goods for a certain period.

This form of payment is combined with commercial interest-free lending to buyers from suppliers.

Payment orders are valid for … days.

158. The bank accepts payment orders for execution
tions from payers only:

A. If you have permission for payment from the territorial
management of the Bank of Russia.

B. If there are funds in the payer's account.

Payment check

In the event that the payer is a commercial organization.

D. In the event that the payer and recipient of funds
are served by this bank.

159. Depending on the agreement of the parties to the transaction, payment
These orders can be:

A. Revocable and irrevocable.

B. Covered and uncovered.

C. Named and order.

D. Urgent, early and deferred.

160. Urgent payment orders can be used:

A. For advance payments, shipment of goods and partial
payments for large transactions.

B. Only for advance payments.

C. Only upon shipment of goods.

D. Only for partial payments for large transactions.

161. … the form of payment is a banking transaction
tion by which the issuing bank, on behalf and at the expense of
of the client, on the basis of settlement documents, carries out
actions to receive payment from the payer.

A. Collection

B. Letter of credit.

C. Check room.

D. Bill of exchange.

162. The disadvantage of the letter of credit form of payment is:

A. Speed ​​and simplicity of settlement transactions.

B. Slowdown in trade turnover, diversion of buyer funds
from economic turnover for the period of validity of the accreditation
tiwa.

C. No guarantee for the supplier of payment by the buyer
products supplied to him.

D. The need to obtain special permission from Ban-
ka Russia for the right to make payments by letter of credit.

163. ... is a written order from one credit institution to another to pay a certain amount to an individual or legal entity upon fulfillment of the conditions specified in the order.

164. Letter of credit opened at the executing bank by
granting him the right to write off the entire amount of the letter of credit from
the account of the issuing bank maintained by him is called:

A. Covered.

B. Commercial.

C. Non-profit.

D. Uncoated.

165. With a letter of credit payment form, products are paid for
available:

A. After its shipment.

B. Before it is shipped.

C. Upon receipt by the buyer.

D. Advance payment.

166. A letter of credit that may be amended or canceled
van by the issuing bank without prior approval from the supplier
shield is called:

A. Irrevocable.

B. Classic.

C. Revocable.

D. Order.

167__ form of payment assumes that the payer instructs
allows the bank servicing it to make at the expense of funds pre-
strictly deposited in the account, or under a bank guarantee, op-
lat of inventory items at location
recipient of funds on the terms provided by the payer.

A. Letter of credit.

B. Collection.

C. Bill of exchange.

D. Check.

168. A letter of credit that cannot be changed or canceled
was opened without the consent of the supplier for whose benefit it was opened,
considered: ■*

A. Reviewable.

B. Order.

C. Classic.

D. Irrevocable.

169. Payment from a letter of credit in cash:

A. Not allowed.

B. Allowed.

C. Allowed with the permission of the issuing bank.

D. Allowed with permission from the territorial administration
niya of the Bank of Russia.

170. A feature of the circulation of letters of credit in Russia is
This is what they are:

A. Can be used for settlements with several suppliers
boxes and can be forwarded.

B. Can be used for calculations with only one
by the provider and cannot be forwarded.

C. Payable in cash only.

D. Used only in transactions between individuals
tsami.

171. Validity period and procedure for settlements under a letter of credit are established
poured:

A. Central Bank of the Russian Federation,

B. Ministry of Finance of the Russian Federation.

C. Territorial department of the Bank of Russia.

D. Agreement between the payer and the supplier.

172. The advantage of the letter of credit form of payment is:

A. Ease of completing a transaction.

B. Fast turnover.

C. Providing a payment guarantee for the product supplier
tions.

D. Low overhead.

173. Letter of credit under which the issuing bank transfers on account
funds of the payer or a monetary loan granted to him
amount at the disposal of the executing bank for the entire period of its validity
action is called:

A. Uncovered.

B. Commercial.

C. Covered.

D. Non-profit.

174. The payer is given the right to refuse payment
You are using a letter of credit form of payment if:

A. The supplier requires payment by bank transfer.

B. The supplier has an account with another bank.

C. The letter of credit is irrevocable.

D. Violations of the terms of the contract were discovered.

175. Checks can be used:

A. Only by individuals.

B. Legal entities only.

C. Individuals and legal entities.

D. Only by commercial banks.

176. The form of checkbook forms is established by:

A. Central Bank of the Russian Federation.

B. Ministry of Finance of the Russian Federation.

C. Government of the Russian Federation.

D. The State Duma RF.

177. The check must be presented for payment to the bank within ...
days.

178. A check issued by a Russian bank can be circulated-
located on the territory:

A. CIS countries.

B. Russia and Belarus.

C. Former republics of the USSR.

D. Only Russia.

A. Allowed.

B. Not allowed.

180. … plastic card allows its owner to carry out
make calculations only within the limits of the amount that is
on his separate (card) bank account.>

A. Urgent.

B. Debit.

C. Credit and debit.

D. Credit.

181. A checkbook can be issued by a bank without a deposit
transfer of funds to the client's account in the event that clients
are:

A. Budgetary organizations.

B. Commercial organizations.

C. Business entities with a stable financial position
position and stable payment discipline.

A. Allowed.

B. Not allowed.

C. Allowed only with permission from the Bank of Russia.

D. Allowed only with permission from the Ministry of Finance
owls RF.

A. A separate account in which funds are deposited.

C. Transit account.

D. Foreign exchange account.

A. For any amount.

185. A check for which payment is made only in favor of a person
specified in the check is called:

A. Order.

B. Bearer.

C. Assignment.

D. Named.

186. Banks carry out transactions on customer accounts on the basis
vaniya:

A. Invoices.

B. Payment documents.

C. Waybills.

D. Certificates of Conformity.

187. A check for which payment is made by the person who presented it to the bank is called:

A. Assignment.

B. Named.

C. Bearer.

D. Order.

188. … checks are not transferable.

A. Assignment.

B. Bearer.

C. Warrants.

D. Personalized.

189. As payment documents submitted for registration
a couple of mutual demands are:

A. Any payment documents.

D. Cash checks only.

190. Checks transferred to another person by simple delivery
nia are called:

A. Orders.

B. Named.

C. Bearer.

D. Assignment.

191. A check for which payment is made in favor of a person
specified in the check, and by means of an endorsement to another person,
is called:

A. Bearer.

B. Order.

C. Named.

D. Assignment.

192. Bank permission to carry out a transaction using
bank plastic card, generating an obligation
bank to transfer money according to a settlement document drawn up
mu with its help is called:

A. Acquiring.

B. Collection.

193. Settlements between banks on the territory of Russia are carried out
are:

A. Only through cash settlement centers of the Bank of Russia.

C. Through the cash settlement centers of the Bank of Russia, according to correspondence
bank accounts and on a clearing basis.

D. Through bank accounts opened with the Ministry of Finance
owls of the Russian Federation.

194. Checks transferred by issuing a transfer order
writing (endorsement), are called:

A. Orders.

B. Named.

C. Bearer.

D. Assignment.

195. Service activities of a commercial bank
plastic cards are called:

C. Acquiring.

D. Domiciliation.

196. Settlements between clients of one bank institution are carried out
found:

A. By debiting or crediting funds to customer accounts,

197. … a plastic card allows its owner
carry out calculations in cash banks that can
be provided to him within a certain established
th bank limit.

A. Debit.

B. Urgent.

C. Credit and debit.

D. Credit.

A. Not allowed.

C. Allowed only between banks operating in the same
nom territorial entity.

D. Allowed only between banks served in
one cash settlement center.

A. Checks.

B. Stocks and bonds.

C. Letters of Credit.

D. Payment orders.

200. Establish compliance between the indicated characteristics and
specific forms of non-cash payments.

201. Establish the correspondence of the indicated methods of transferring checks to their types.

The check must be presented to the bank for payment within ... days.

178. A check issued by a Russian bank can be circulated in the following territories:

A. CIS countries.

B. Russia and Belarus.

C. Former republics of the USSR.

D. Only Russia.

179. Settlements by checks between individuals:

A. Allowed.

B. Not allowed.

C. Allowed with permission from the Bank of Russia.

D. Allowed if the checks are personal.

180. ... a plastic card allows its owner to make payments only within the amount that is in his separate (card) bank account.

A. Urgent.

B. Debit.

C. Credit and debit.

D. Credit.

181. A checkbook can be issued by a bank without depositing funds in the client’s account if the clients are:

A. Budgetary organizations.

B. Commercial organizations.

C. Business entities with a stable financial position and stable payment discipline.

D. Municipal authorities.

182. Acceptance of checks for deposits of citizens into their personal accounts:

A. Allowed.

B. Not allowed.

C. Allowed only with permission from the Bank of Russia.

D. Allowed only with permission from the Ministry of Finance of the Russian Federation.

183. Banks pay the client’s checks from his:

A. A separate account in which funds are deposited.

B. General current account without opening special accounts.

C. Transit account.

D. Foreign exchange account.

184. A bank client can issue checks:

A . For any amount.

B. Only for the amount of your debt to suppliers.

C. The amount deposited in the bank.

D. For any amount divisible by 1000 rubles.

185. A check, payment of which is made only in favor of the person indicated in the check, is called:

A. Order.

B. Bearer.

Bank check vs money order: what is the difference

Assignment.

D. Named.

186. Banks carry out transactions on customer accounts based on:

A . Invoices.

B. Payment documents.

C. Waybills.

D. Certificates of Conformity.

187. A check, payment for which is made by the person who presented it to the bank, is called:

A. Assignment.

B. Named.

C. Bearer.

D. Order.

188. … checks are not transferable.

A. Assignment.

B. Bearer.

C. Warrants.

D. Personalized.

189. The following are the payment documents submitted for offset of mutual claims:

A . Any payment documents.

B. Payment orders only.

C. Payment orders only.

D. Cash checks only.

190. Checks transferred to another person by simple delivery are called:

A . Orders.

B. Named.

C. Bearer.

D. Assignment.

191. A check, payment for which is made both in favor of the person indicated in the check, and by means of an endorsement to another person, is called:

A . Bearer.

B. Order.

C. Named.

D. Assignment.

192. The bank’s permission to carry out a transaction using a bank plastic card, generating the bank’s obligation to transfer money according to a payment document drawn up with its help, is called:

A. Acquiring.

B. Collection.

193. Settlements between banks in Russia are carried out:

A. Only through cash settlement centers of the Bank of Russia.

B. Only for correspondent bank accounts.

C. Through cash settlement centers of the Bank of Russia, through correspondent accounts of banks and on a clearing basis.

D. Through bank accounts opened with the Ministry of Finance of the Russian Federation.

194. Checks transferred by issuing an endorsement (endorsement) are called:

A. Warrants.

B. Named.

C. Bearer.

D. Assignment.

195. The activities of a commercial bank in servicing plastic cards are called:

C. Acquiring.

D. Domiciliation.

196. Settlements between clients of the same bank institution are carried out:

A. By debiting or crediting funds to customer accounts,
bypassing the bank's correspondent account.

B. Only through a correspondent bank account.

C. Only through cash settlement centers.

D. Only by offsetting mutual claims.

197. ... a plastic card allows its owner to make payments using bank funds, which can be provided to him within a certain limit established by the bank.

A. Debit.

B. Urgent.

C. Credit and debit.

D. Credit.

198. Settlements by offsetting mutual claims between banks:

A. Not allowed.

B. Allowed without restrictions.

C. Allowed only between banks operating in the same territorial entity.

D. Allowed only between banks serviced in the same cash settlement center.

199. Forms of non-cash payments do not include:

B. Stocks and bonds.

C. Letters of Credit.

D. Payment orders.

Definition of a bank check, types of checks, contents of a check

Definition of a bank check, settlements with bank checks, types of bank checks, history of the bank check,

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Bank check - definition

A bank check is

Warrant is a certificate that gives its owner the right to purchase one type within a certain period.

A bank check is a security that gives its owner the right to purchase, during a specified period, a certain number of ordinary shares at a pre-fixed price.

Warrant is a valuable banking document that is used for non-cash payments. True, this method of “payment” is the slowest, but also the cheapest of all available.

Warrant is The document is used for commercial payments between people located both in the same city and on different continents. This method of receipt is especially convenient because only the person for whom it is intended can cash a bank check.

A bank check is A security with a written instruction to pay the holder a specified amount. If such a document is issued for non-cash transactions, then four parties will participate in the transaction: the bank, the drawer of the check, the holder, and the bank of the check holder.

Warrant is a security that contains an unconditional order to the bank to make payment to the holder of the check for the amount specified in it. The drawer of the check is the person who has funds in the bank. He can dispose of these funds using the method of issuing a check holder. The holder of the check is the person in whose favor the payer issued the check, that is, the bank where the drawer's money is located.

Warrant is a payment document issued by a bank based on its own funds. Compensated by the client either in cash or by transfer from his bank account. The practical application is similar to a letter of credit.

1920 Warrant

Warrant is an order expressed in writing, issued in this case by the registrar to “his” bank to pay a certain amount. A check is a beautifully designed piece of paper that specifies the payer, the payee, the amount to be paid, and other details.

Warrant is a valuable receipt, the content of which confirms the order of the drawer to his bank - to transfer a certain amount from his current account to another.

The history of the bank check

The bank check that we sometimes write with such ease is nothing more than a variation, and a check book is just numbered forms of bills. Therefore, in order to learn how to use checks correctly, it is necessary to understand the nature of the bill, and everything that will be discussed below about bills also applies to the now familiar little book in your pocket.

The bill of exchange as a trade document was born in England in the 16th and 17th centuries. in response to the needs of developing countries. Let's say Mr. John, the owner of a textile shop, has only a hundred to purchase another. Mr. Bill, the owner of the manufactory, is ready to sell him fabrics worth 1000 pounds with a deferred payment for two months - the time during which John will have time to sell the goods and pay.

John gives Bill a receipt agreeing to pay £1,000 by January 1st. In theory, Bill, who actually did not receive money from John, must stop the factory for two months - until he receives the money necessary for the purchase. However, he does not do this, but turns to farmer Richard in order to buy wool from him, and issues John’s promissory note as a means of payment.

Richard has heard about John as honest, but he has concerns: first of all, he does not know why the promissory note was issued. After all, a situation may arise when Bill does not fulfill his obligations towards John and the latter refuses to pay, citing this. In order for Richard to safely accept a promissory note instead of money, it must contain an unconditional promise to pay the bearer 1000 pounds.

This is how the first rule of the bill of exchange is born - the unconditionality of the obligation. If John's IOU is a promissory note, then Richard should not be concerned about the relationship between him and Bill: whatever happens, John is obliged to pay. The bill in Richard’s hands is a kind of “future money” that can be used as a means of payment, which is what Richard will do by paying off the baron, the land lessor, with the help of the bill.

This leads to the second rule of a bill of exchange - the transferability of a bill of exchange as a means of payment, and this makes it ultimately very similar to money (it is no coincidence that in legal slang in bill of exchange practice they use definitions like “almost money” or “as if money”). As a result, before the payment is due, the bill may pass through dozens of hands, and the last holder will appear to John on the specified day and demand payment.

How is the transfer of a bill carried out? There are two ways. The first is when everyone through whose hands the bill passes indicates to whom he gave it and puts his signature and date on it. The second is when the first recipient of the bill (in this case, Bill) signs on the back, and all other holders remain anonymous. Depending on the type of transfer of the bill of exchange, the rights of its owner also change.

A bill transferred by means of transfer notes is “stronger” than usual: if the person who wrote it is unable or refuses to pay, then the holder of such a bill has the right through the court to demand payment not only from the one who wrote it, but also from anyone in whose hands it is visited. Therefore, the more transfers the bill has “survived,” the “stronger” it is and the higher the chances of receiving money on it.

If we are talking about a bill that was transferred anonymously, the owner has only two possible defendants (in the example described above, these are John and Bill). Several centuries have passed since the time of John and Bill, and these rules, however, have not undergone any significant changes and fully apply, including to the checks we are familiar with.

Payments by bank checks

The check form of payment is the most convenient for non-cash payments between organizations. Enterprises and organizations served by Savings Bank institutions pay using both settlement checks and checkbooks. A new type of check is currently operating on the territory.

The check is issued by Savings Bank institutions at the expense of funds stored in the accounts of enterprises and organizations. To receive a check, businesses and organizations open a deposit account for any amount. Funds from the current account are transferred to this account. The minimum amount for which an invoice can be issued is 1000. The client can optionally receive several checks and use them to settle obligations.

The check form of payments on the territory of Russia is carried out using checks from a limited checkbook and checks of the Russian Federation. Limited checkbooks are issued by the bank on the basis of an application from the enterprise and a payment order for depositing the checkbook amount.

When issuing a check book, the bank debits the limit amount from the customer's account and deposits it in a separate account. Checks from a limited checkbook are issued by the payer-drawer on a special check form at the time the payment amount is determined and handed over to the recipient of the money. The recipient of the money, in turn, presents the checks to the bank that serves him for payment. Typically the day after the check is issued.

A checkbook consists of check forms bound in standard books of 10, 20, 25 and 50 sheets. Checkbook forms are documents of strict accountability. Clients with a stable financial position and stable payment discipline, if appropriate, can be issued a check book without depositing funds - against the bank. In this case, there is an inscription “Bank guarantee” and not “With deposit”.

Checks are issued in one copy, signed by persons entitled to dispose of the bank account, sealed by the drawer and paid in full. Simultaneously with the check, the balance of the limit is transferred to the counterfoil and certified by the responsible person.

The counterfoil of the check remains in the drawer's book and is used for using the check book limit and paying checks. When issuing the next check, the drawer () transfers the balance of the limit from the counterfoil of the previous check to the check and displays the rest of the limit.

Limited check books and checks are used when making payments for goods actually sold or services rendered. The check holder who has received a check for payment or services provides the check to the bank along with a register indicating the names of:

Supplier;

Recipient of goods and services;

Documents according to which the amount of the check must be transferred.

Checks written in excess of the limit are invalid and are subject to return to the bank institution that accepted them for debiting from the account of the seller (check holder) the amounts unreasonably credited to it. The validity period of a checkbook is calculated from the date of issue and establishment by the bank in agreement with the client. Checks issued after the expiration date of the check book are invalid.

It is prohibited to sign blank check forms and transfer the checkbook to the other party to the transaction. Responsibility for the incorrect use of the checkbook, theft and abuse based on manipulations with checks lies with the person to whom the book was issued.

A legal entity, through an authorized representative, when purchasing goods (or receiving services), issues a settlement check. This check is handed over to the supplier, that is, to the recipient of the funds. The check is valid for 10 days excluding the day of issue. After checking the correctness of the registers, check details and compliance with their validity periods, the bank credits the amount indicated in the check to the recipient’s account. This amount is debited from the account in which the funds are deposited, from a current or loan account if the checkbook is issued under a bank guarantee.

When making payments using checks from limited checkbooks, payment to the supplier is guaranteed, but at the same time, funds are diverted from the payer’s business turnover for a sufficiently long period. This drawback is eliminated to a certain extent if the checkbook is issued under a bank guarantee. However, for a bank, this type of settlement is characterized by increased costs and is possible only with full confidence in the client’s solvency.

After using the check book limit, the customer can approach the bank with a request to increase the limit. To do this, a payment order is submitted to the bank indicating the amount of the limit, which is again credited to a separate account. The bank makes a note in the checkbook to increase the limit.

On the territory of Russia, Regulation No. 14 of 07/09/1992 introduced checks of the Russian Federation into circulation, which can be used by individuals and legal entities. The following can serve as cover for a Russian check at the drawer's bank:

Funds in the corresponding account of the check drawer, but not more than the amount guaranteed by the bank in agreement with the drawer when issuing the check;

Funds deposited by the drawer in a separate account.

To receive a Russian check, the company submits to the bank:

Statement;

Payment order, if checks will be paid from a separate account.

Before issuing a Russian check to its client, the bank properly prepares it by filling out the following details:

Name of the bank that issued the check, bank reference number for inter-branch settlements;

Conditional number of the cash settlement center servicing the bank that issued the check;

Correspondent account of the issuing bank through which transactions will be carried out;

Account number and name of the drawer;

On the reverse side of the check there is a limit on the amount for which the check can be issued.

Along with the checks, the bank issues an identification card to the client (in one copy, regardless of the number of checks) and identifies the drawer for each check issued.

The seller, after receiving a Russian check from the buyer, draws up a register of checks in four copies. He submits all this to his bank within 10 days, not counting the day of issue. The fourth copy of the register with the bank stamp affixed is returned to the seller and serves as a receipt for acceptance of checks for payment. The first and second copies, together with the debit memo, are sent to the cash settlement center servicing the payer’s bank. The third copy, along with the check, remains in the cash settlement center serving the supplier's bank.

An enterprise accepting checks for payment must ensure that:

The check amount does not exceed the established limit;

The passport data matches those on the check card;

The drawer's account number corresponds to the account on the check card.

On the back of a check accepted for payment, the company must put its stamp and the signature of the responsible person. An enterprise that has lost checks submits a statement to the bank indicating the numbers of lost and used checks.

Types of checks and securities

The agreement is concluded for a certain period, and after the specified date. The party that sells the securities must deliver them to the other party, and the latter must pay their value at the delivery price. Both parties entering into a futures contract expect that the price of certain securities will change in the future.

Another reason for paying by check may be the ability for the bank that services the foreign recipient to instantly write to his account the equivalent of a check with a note regarding the next receipt. And this means faster payment, since already on the day you receive the check you can dispose of its equivalent.

Payment to the order of any bank, banker or trust organization;

The first or missing endorsement is guaranteed;

Name of the institute;

As a rule, any paper medium of various types of Information has its electronic equivalent. An Electronic Traveler's Check is a Product modern technologies, it is a plastic smart card of a set form that stores a prepaid balance of a fixed denomination. In most cases, it is used to obtain cash from ATMs abroad or for Payments for Goods and services in foreign shops, restaurants and hotels.

In the Russian Federation, the most famous check brands are Thomas Cook, Visa and MasterCard. Today, the products of these companies can be purchased at dozens of banks of one kind or another.

The Russian Banking Market offers for sale Visa TravelMoney Cash Passport - an electronic version of a traveler's check, which in form and technology of use is. It is protected by a PIN code and a separate number. An electronic Traveler's Check is issued within a few minutes and does not require opening an account or making a preliminary security deposit. It does not need to be declared at the border. This check card, as a rule, does not have an Expiration Date and is valid until the deposited Money is completely spent. The card does not contain information about the owner, which makes it possible to transfer or gift it to another person.

The choice of what a Traveler's check should be is up to each individual. The paper Travel Check is protected from technical failures in the operation of ATMs and from attacks by carders. Having lost it, you can especially not worry that the finder will use the money. If in order to carry out transactions on someone else’s card account it is enough to have Information about a particular set of numbers (PIN), then Money can be issued using a Check only after it is personally signed by the owner and upon simultaneous presentation of a passport.

As a result, it should be noted that electronic Traveler's checks denominated exclusively in Dollars are becoming rare, and the client can conduct financial transactions in various monetary units.

American Express Check Secure Funds were created by American Express specifically to help keep funds safe at home. In case of loss or theft, a full refund of the Check amount is guaranteed.

American Express Home Deposit Travelers Checks are not affiliated with any specific Bank and are therefore insured against the effects of banking shocks. This fact serves as another confirmation of reliability.

A traveler's check is a payment document that is used as a means of providing tourists with currency. In other words, this is an obligation of the Organization that issued it, by which it undertakes to pay its face value (the amount of the Check) upon presentation of the Check.

The main advantage of a traveler's Check is that in case of loss or theft, a full refund of the Check amount is guaranteed. This is mainly due to the very scheme of issuing a Check and accepting it for payment.

Only its owner, whose name is indicated on the Check, can dispose of the Check. The owner leaves his signature, which will serve as a sample for verifying how the bearer of the Check signs. If, when presenting the Check, it seems to the Bank employee that the signature is superior to the original, he may refuse to provide the banking service.

In addition, to receive Money by Check (in addition to the signature), you must present an identification document. Thus, the presence of such rules when cashing a Check actually reduces to zero the attacker’s attempts to use other people’s funds.

If the owner himself has lost the Check, then he needs to report its number to the branch of the Organization that issued the Check, and with the receipt that is issued when the Check is issued, apply to receive the Money.

An undoubted advantage is that, thanks to a traveller's check, you can freely transport large sums of money across the border without fear that customs representatives will show excessive curiosity when finding out the amount of cash you have with you.

Today, Traveler's checks occupy the lower positions in the ratings of banking products and are perceived as a kind of “delicacy” in the banking assortment. But based on the above, you can be sure that Traveler's checks are very easy to handle. They are also beneficial in comparison with alternative plastic cards. There is no need to pay separately for maintaining a current account, for adding to a stop list, for an additional user, a fine for loss, etc. And the period of use of a traveler's Check is not limited (for example, the first Checks issued back in 1891 are accepted for payment to this day ).

A procedure such as inheritance is also provided. Therefore, despite the fact that interest is not accrued on Checks, they can also amount to significant Savings (Deposit) Certificates of Banks, since the issuing Organizations have more reliable Capital on an international scale.

For all its advantages, the Traveler's Check has a serious drawback - the denomination (multiples of 10, 20, 50, 100, etc.). You can only cash a Check for the full amount at once. Moreover, in a number of Banks (mostly foreign) it is much cheaper to receive cash using a Check with a face value of $1000 than to cash out $20. Checks, like cash, have a denomination, currency (American dollars, British pounds, etc.), an individual number and a sufficient number of degrees of protection. Unlike cash, Checks cannot be exchanged or partially sold, which should be taken into account when purchasing Checks - it is better to have a mixture of Checks of large and small denominations.

Sources and links

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