bank cheque

Drawn funds document

A bank cheque is a cheque drawn by a bank on its own funds rather than on a customer's account, making it more secure than a personal cheque.

Banks issue these for large transactions where the recipient needs guaranteed payment: The solicitor required a bank cheque for the property settlement.

Also called a cashier's cheque or banker's cheque.

Related

account · chequing account · current account · bill of exchange · transaction · stop payment · promissory note · signature · endorsement · deposit slip · money order · financial instrument · reconciliation · overdraft · account statement · payee · identity theft prevention · contract law

Categories
Opposites
payment immediacy

bank chequecash

Ready spending funds

instant payment · contactless payment · tap-to-pay · wire transfer · credit card

payment tangibility

bank chequeelectronic transfer

Digital funds transmission

digital payment · e-payment · cryptocurrency · mobile payment · Bitcoin

payment traceability

bank chequecash

Ready spending funds

cash payment · hard currency · currency · banknotes · hard cash

Family

bank, banks, banked, banking, banker, bankers, cheque, cheques, check

Familiarity
Top 200,000
Profile
Timeless · Concrete · Everyday, not technical · Rated G