Personal Check
A cheque (CwE) or check (AmE), thought to have developed from Persian چك chek, is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specific demand account held in the maker/depositor's name with that institution. Both the maker and payee may be natural persons or legal entities.
A cheque shall contain:
1. place of issue
2. cheque number
3. account number MICR
4. date of issue
5. payee
6. amount of currency
7. signature of the drawer
A cheque is generally valid for six months after the date of issue unless otherwise indicated, but this varies depending on where the cheque is drawn. In Australia, for example, it is fifteen months. Legal amount (amount in words) is also highly recommended but not strictly required.
Personal check's can be obtained from your local bank, usually for a price range of ten to fifteen dollars. Personal checks make it extremely easy for owed money to be payed. Often companies will not accept personal checks from customers though, as there is a high risk of the check bouncing.
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