Check
A written instrument that directs a bank to pay a specific sum of money to the bearer or named payee.
More Details
A check is a piece of paper which signifies the transfer of promised money from one party to another.
Example
To pay for your children’s singing lessons, you use a check, fill out the necessary information, sign it, and then hand it to the teacher to either cash or deposit into their own bank account
Related Terms
Mobile Payments
A way of making transactions using a mobile device, such as a smartphone or tablet, often made using a mobile payment or banking app.
Debt-to-Income Ratio (DTI)
A measure of how much of an individual's monthly income is consumed by debt payments.
Check
A written instrument that directs a bank to pay a specific sum of money to the bearer or named payee.

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