HERNANDEZ, NIÑA CASSANDRA M.

BSBA FM2-2
BANKING AND FINANCIAL INSTITUTION

ASSIGNMENT:

KINDS OF CHECKS

1. TRAVELLER’S CHECK - It is Several financial organizations, like American Express, offer traveler's
checks as a means of payment. People typically travel abroad and utilize these paper cheques
for payment. They cost certain amounts to purchase, and they can be redeemed for money or
used to pay for products and services. You may use it when You must sign each traveler's check
twice when you initially order them: once when you receive it and once more when you use it at
a store. More than one traveler's check may be cashed at once, and you will be given change in
the local currency.

2. POST DATED CHECK - A check that has a future date written on it is said to be postdated.
Usually, this is done to allow for a potential deposit delay. For instance, if you are mailing a bill
payment in before the due date, you can decide you would like to postdate a check. If there
aren't enough money in the checking account when the check is made, it's also usual to
postdate the check.

3. STALE DATED CHECK

4. BOUCING CHECK
5. OPEN CHECK