chequetʃɛk
cheque (n)
- plural
- cheques
English Definitions:
check, bank check, cheque (verb)
a written order directing a bank to pay money
"he paid all his bills by check"
cheque, check out (verb)
withdraw money by writing a check
cheque (Noun)
A note promising to pay money to a named person or entity.
Cheque
A cheque is a document that orders a payment of money from a bank account. The person writing the cheque, the drawer, usually has a current account or checking account where their money was previously deposited. The drawer writes the various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the drawee, to pay that person or company the amount of money stated. Cheques are a type of bill of exchange and were developed as a way to make payments without the need to carry large amounts of money. While paper money evolved from promissory notes, another form of negotiable instrument, similar to cheques in that they were originally a written order to pay the given amount to whoever had it in their possession. Technically, a cheque is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specified transactional account held in the drawer's name with that institution. Both the drawer and payee may be natural persons or legal entities. Specifically, cheques are order instruments, and are not in general payable simply to the bearer but must be paid to the payee. In some countries, such as the US, the payee may endorse the cheque, allowing them to specify a third party to whom it should be paid.
Cheque
A cheque, or check (American English; see spelling differences), is a document that orders a bank (or credit union) to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The person writing the cheque, known as the drawer, has a transaction banking account (often called a current, cheque, chequing, checking, or share draft account) where the money is held. The drawer writes various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the drawee, to pay the amount of money stated to the payee. Although forms of cheques have been in use since ancient times and at least since the 9th century, they became a highly popular non-cash method for making payments during the 20th century and usage of cheques peaked. By the second half of the 20th century, as cheque processing became automated, billions of cheques were issued annually; these volumes peaked in or around the early 1990s. Since then cheque usage has fallen, being partly replaced by electronic payment systems, such as debit cards and credit cards. In an increasing number of countries cheques have either become a marginal payment system or have been completely phased out.
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"cheque." Kamus.net. STANDS4 LLC, 2024. Web. 29 Mar. 2024. <https://www.kamus.net/english/cheque>.
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