Cheque: Difference between revisions
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imported>Doug Williamson (Standardise page layout.) |
imported>Doug Williamson (Update for decline of cheques use over time. Source: Payments and payment systems Treasurer's Handbook page.) |
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A written order from one party (the drawer) to another (the drawee, normally a bank) requiring the drawee to pay a specified sum on demand to the drawer or to a third party specified by the drawer. | A written order from one party (the drawer) to another (the drawee, normally a bank) requiring the drawee to pay a specified sum on demand to the drawer or to a third party specified by the drawer. | ||
Historically, cheques have been very widely used for settling debts and withdrawing money from banks. | |||
Their use has been declining as they are replaced by electronic and card payments. | |||
Revision as of 17:22, 10 February 2017
A written order from one party (the drawer) to another (the drawee, normally a bank) requiring the drawee to pay a specified sum on demand to the drawer or to a third party specified by the drawer.
Historically, cheques have been very widely used for settling debts and withdrawing money from banks.
Their use has been declining as they are replaced by electronic and card payments.
Note: US spelling of cheque is "check".
