TYPES OF CHECK

POST DATED CHECK

THESE CHECKS FEATURE A FIXED PERIOD OF REDEEMING. THE

FINANCIAL INSTITUTION WILL ONLY PROCESS THE TRANSACTION
ON THE TIME STIPULATED IN THE CHECK, WHETHER OR NOT THE
HOLDER SUBMITS THIS CHECK TO THE INSTITUTION RIGHT AWAY
AFTER RECEIVING IT. EACH CHECK IS GOOD AFTER THE SPECIFIED
DATE BUT NOT BEFORE.
 TYPES OF CHECK

BEARER CHECK

IT IS OFTEN REFERRED TO AS AN UNCROSSED OR OPEN CHECK.

THIS CHECK DOES NOT REQUIRE APPROVAL AND CAN BE
TRANSFERRED SIMPLY BY DELIVERY. A BEARER CHECK IS ONE THAT
PAYS THE PERSON WHO IS HOLDING THE CHECK OR CARRYING IT.
THESE CHECKS CAN BE TRANSFERRED BY DELIVERY, MEANING
THAT YOU CAN RECEIVE PAYMENT IF YOU BRING THE CHECK TO
THE BANK. THE BANKS CAN COMPLETE THE TRANSACTION WITHOUT
FURTHER AUTHORIZATION FROM THE ISSUER. IF THE WORDS "OR
BEARER" ARE PRINTED ON THE CHECK, IT IS A BEARER CHECK.
 TYPES OF CHECK

STALE CHECK

STALE CHECKS ARE THOSE THAT HAVE BEEN ISSUED BY A HOLDER

BUT HAVE NOT BEEN WITHDRAWN FROM THE BANK FOR THREE
MONTHS.
 TYPES OF CHECK

CROSSED CHECK

THIS TYPE OF CHECK PAYMENT DOES NOT FORM IN CASH WHILE

THE PAYMENT OF THAT TYPE OF CHECKS TRANSFERRED TO THE
PAYEE ACCOUNT AND THE REGULAR PERSON'S ACCOUNT THAT IS
RECOMMENDED BY THE CHEQUE'S HOLDER. ON THAT TYPE OF
CHECKS, TWO PARALLEL LINES MADE ON THE UPPER PART OF THE
CHECKS, THEN THAT CHEQUES FORMED TO CROSSED CHECKS.
 TYPES OF CHECK

ACCOUNT PAYEE CHECK

ACCOUNT PAYEE CHEQUES ARE THOSE WITH TWO PARALLEL LINES,

A CROSSING LINE, AND THE PHRASE "ACCOUNT PAYEE" PRINTED
BETWEEN THE LINES. THE ACCOUNT PAYEE CHEQUE IS PAID TO THE
PERSON, BUSINESS, OR ORGANIZATION LISTED ON THE CHEQUE'S
ISSUER LINE.