Cheque

A cheque is a written, dated, and signed document that directs a bank to pay a specific sum of money to the bearer or the person who has the cheque in his / her possession.

Cheques may be cashed or deposited. When the payee presents a check to a bank or other financial institution, the funds are taken from the payer’s bank account. It is another way to instruct the bank to transfer funds from the payer’s account to the payee or the payee’s account.