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Encyclopedia > Check (finance)
This article needs cleanup. Please edit this article to conform to a higher standard of article quality. Numismatics (ancient Greek: νομισματική) is the scientific study of money and its history in all its varied forms. While numismatists are often characterized... Numismatics
Coin Basics
  • Moneys is an agreement within a community, to use something as a medium of exchange, which acts as an intermediary market good. It can be traded and exchanged for other goods. The agreement can either be explicit or implicit, freely chosen, or coerced. Money is an abstract form of power... Philosophy
  • Coinage is: currency The right or process of making coins The creation of a neologism, or new word; see word coinage This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. If an article link referred you here, you might... Terminology
  • Clubs
Ancient Coins
  • Tetradrachm of Athens, fifth century B.C. The ancient coins of Greece represent the highest form of the coiners art. Primarily produced as hammered coinage, Greek coins were normally struck in very high relief. Greek coins have been collected as works of art and as a tangible link to... Greece
  • The main Roman currency during most of the Roman Republic and the Roman Empire consisted of coins including: the aureus (gold), the denarius (silver), the sestertius (bronze), the dupondius (bronze), and the as (copper). These were used from the middle of the second century BC until the middle of the... Rome
  • Anastasius 40 nummi and 5 nummi Byzantine currency, money used in the Eastern Roman Empire after the fall of the West, consisted of mainly two types of coins: the gold solidus and a variety of clearly valued bronze coins. The start of what is viewed as Byzantine currency by numismatics... Byzantium
  • Celt
Modern Coins
  • Europe
  • The Americas
  • Africa
  • Asia
Coinage For alternative meanings see metal (disambiguation). In chemistry, a metal ( Greek: Metallon) is an element that readily forms ions (cations) and has metallic bonds, and it is sometimes said that it is similar to a cation in a cloud of electrons. The metals are one of the three groups of... Metals
  • General Name, Symbol, Number Gold, Au, 79 Chemical series transition metals Group, Period, Block 11 (IB), 6, d Density, Hardness 19300 kg/m3, 2.5 Appearance Metallic yellow Atomic properties Atomic weight 196.96655 amu Atomic radius (calc.) 135 (174) pm Covalent radius 144 pm van der Waals radius 166... Gold
  • General Name, Symbol, Number silver, Ag, 47 Chemical series Transition metals Group, Period, Block 11, 5 , d Density, Hardness 10490 kg/m3, 2.5 Appearance Lustrous white metal Atomic properties Atomic weight 107.8683 amu Atomic radius (calc.) 160 (165) pm Covalent radius 153 pm van der Waals radius 172... Silver
  • Electrum is a naturally occurring alloy of gold, silver, and lesser amounts of copper. It has a pale yellow color, and was used in some of the earliest coins in the world. Composition Most commonly, electrum consists of approximately 75% gold, the remainder mostly silver, with some copper and other... Electrum
  • Copper is also the title of a web and print comic: see Copper (comic). General Name, Symbol, Number copper, Cu, 29 Chemical series transition metals Group, Period, Block 11 , 4, d Density, Hardness 8920 kg/m3, 3.0 Appearance copper, metallic Atomic properties Atomic weight 63.546 amu Atomic radius... Copper
Production Methods
  • Coining is a form of precision stamping. It differs from simple stamping in that enough pressure is used to cause plastic flow of the surface of the material. A beneficial feature is that in some materials, such as phosphor bronze, the plastic flow breaks up the surface crystals, work hardening... Coining
  • Stamping
  • The term milled coinage is used to describe coins which are produced by some form of machine, rather than by manually hammering coin blanks between two dies (hammered coinage) or casting coins from dies. The earliest machine known for producing coins is the screw press, believed to have been invented... Milling
  • Hammered coinage describes the commonest form of coins produced since the invention of coins in the first millennium BC until the early modern period of ca. the 15th-17th centuries. Hammered coins were produced by placing a blank piece of metal (a planchet or flan) of the correct weight between... Hammering
  • Casting
The El Chino Mine located near Silver City, New Mexico is an open-pit copper mine Mining is the extraction of valuable minerals or other geological materials from the earth, usually (but not always) from an ore body, vein, or (coal) seam. Materials commonly recovered by mining include bauxite, coal... Mining for Coinage
A 20 Ulster Bank banknote. A banknote (more commonly known as a bill in the United States) is a kind of currency, issued as legal tender. With coins, banknotes make up the cash forms of all modern money. With the exception of non-circulating high-value or precious metal commemorative... Paper Money
The noun exonumia is from two classical Greek roots: exo, or out-of, and numis, numismatically (coin) related, thus out-of-coins. It covers coin-like objects such as token and medals, and other items used in place of legal currency or for commemoration, including elongated coins, encased coins, souvenir... Exonumia
  • Primitive Money
  • A check or cheque (borrowed from Persian چك Chek) is a document instructing a financial institution to pay a specific amount of a specific currency from a specific demand account held in the maker/depositors name with that institution. Both the maker and payee may be natural persons... Cheques and A credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. A credit card is different from a debit card in that the credit card issuer lends the consumer money rather than having the money... Credit Cards
  • In the study of numismatics tokens are coin-like objects used instead of coins. The field of tokens is part of exonumia. Tokens are used in place of coins and either have a denomination shown or a denomination implied by size or shape. They are made of cheaper materials than... Tokens
An Order is a decoration, awarded by a government to an individual, usually for distinguished service to a nation or to humanity. Modern orders and decorations can trace its origin back to the medieval Orders of Chivalry. By the time of the Renaissance, most European monarchs either acquired an existing... Orders and A Medal can mean three things: a wearable medal awarded by a government for services to a country (such as Armed force service); strictly speaking this only refers to a medal of coin-like appearance, but informally the word also refers to an Order (decoration); a table medal awarded by... Medals
Economics is the social science studying production and consumption through measurable variables. It involves analysing the production, distribution, trade and consumption of goods and services. Economics is said to be positive when it attempts to explain the consequences of different choices given a set of assumptions and normative when it... Economics
  • For other uses, see Bank (disambiguation). The essential function of a bank is to provide services related to the storing of value and the extending of credit. The evolution of banking dates back to the earliest writing, and continues in the present where a bank is a financial institution that... Banking
  • See stock (disambiguation) for other meanings of the term stock A stock, also referred to as a share, is commonly a share of ownership in a corporation. History The first company that issued shares is considered to be the Stora Kopparberg, in the 13th century. Ownership The owners and financial... Stocks and Dutch East India Company bond, issued in 1623. In finance and economics, a bond or debenture is a debt instrument that obligates the issuer to pay to the bondholder the principal (the original amount of the loan) plus interest. Thus, a bond is essentially an I.O.U. (I owe... Bonds

A cheque (British English) or check (American English), thought to have developed from Persian (فارسی), also known as Farsi (local name), Parsi (older local name, but still used by some speakers), Tajik (a Central Asian dialect) or Dari (an Afghan dialect), is a language spoken in Iran, Tajikistan, Afghanistan and Uzbekistan. It has official-language status in the first... Persian چك chek, is a Negotiable instruments include: stock certificates bonds checks promissory notes certain letters of credit deeds securities Categories: Finance | Stub ... negotiable instrument instructing a A financial institution acts as an agent that provides financial services for its clients. Financial institutions generally fall under financial supervision from a government authority. Examples of basic types Bank Building society Check-cashing store Consumer finance company Credit union Friendly society Insurance Investment bank Merchant bank Non-bank Savings... financial institution to pay a specific amount of a specific A currency is a unit of exchange, facilitating the transfer of goods and services. It is a form of money, where money is defined as a medium of exchange rather than e.g. a store of value. A currency zone is a country or region in which a specific currency... currency from a specific A demand account (or demand deposit) is a deposit account held at a bank or other financial institution, the funds deposited in which are payable on demand. The primary purpose of demand accounts is to facilitate cashless payments by means of check, bank draft, direct debit, electronic funds transfer, etc... demand account held in the maker/depositor's name with that institution. Both the maker and payee may be In jurisprudence, a natural person is a human being perceptible through the senses and subject to physical laws, as opposed to an artificial person, i.e., an organization that the law treats for some purposes as if it were a person distinct from its members or owners. For example, such... natural persons or A legal entity or artificial person is a legal construct with legal rights or duties such as the legal capacity to enter into contracts and sue or be sued. It is an entity -- usually an organization such as a corporation or a government -- ultimately composed of natural persons that the... legal entities.


History

The cheque had its origins in the medieval banking system, in which bankers would issue orders at the request of their customers, to pay money to identified payees. Such an order was referred to as a bill of exchange. The use of bills of exchange facilitated trade by eliminating the need for merchants to carry large quantities of currency (e.g. gold) to purchase goods. A draft is a bill of exchange which is payable on demand of the payee.


Types of cheques

In the The United States of America — also referred to as the United States, the U.S.A., the U.S., America¹, the States, or (archaically) Columbia — is a federal republic of 50 states located primarily in central North America (with the exception of two states: Alaska and Hawaii... United States, cheques are governed by Article 3 of the The Uniform Commercial Code is one of the Uniform Acts that attempts to harmonise the law of the fifty U.S. states in the United States of America. It treats the law of sales and commercial transactions in the United States. This was the first of the Uniform Acts to... Uniform Commercial Code. An order cheque – the most common form in the US – is payable only to the named payee or his or her indorsee, as it usually contains the language "Pay to the order of (name)." A bearer cheque is payable to anyone who is in Possession is having some degree of control over something else. Generally, to possess something, a person must have an intention to possess it. A person may be in possession of some property (although possession does not always imply ownership). Like ownership, the possession of things is commonly regulated by states... possession of the document: this would be the case if the cheque does not state a payee, or is payable to "bearer" or to "cash" or "to the order of cash", or if the cheque is payable to someone who is not a person or legal entity, e.g. if the payee line is marked "Happy Birthday".


In the United States, the terminology for a check varies with the type of financial institution on which it is drawn. In the case of a A savings and loan association is a financial institution which specializes in accepting savings deposits and making mortgage loans. They are often mutually held, meaning that the depositors and borrowers are members with have voting rights and have the ability to direct the financial and managerial goals of the organization... savings and loan it is a negotiable order of withdrawal; if a A credit union is a co-operative financial institution that is owned, controlled and administered by its members. Only a member of a credit union may deposit money with the credit union, or borrow money from it. The character of a borrower is often deemed to be the most important... credit union it would be a share draft. Cheques as such are associated with chartered commercial The essential function of a bank is to provide services related to the storing of value and the extending of credit. The evolution of banking dates back to the earliest writing, and continues in the present where a bank is a financial institution that provides banking and other financial services... banks, but under Article 3, and thus in common usage, cheque is understood to mean any or all of these negotiable instruments.


Parties to regular checks generally include a maker, the depositor writing a cheque; a drawee, the financial institution where the check can be presented for payment; and a payee, the entity to whom the maker issues the check. Ultimately there is also at least one indorsee which would typically be the financial institution servicing the payee's account, or in some circumstances may be a In a two-party system a third party is a party other than the two dominant ones. While technically the term is limited to the third largest party, it is often used as shorthand to describe any smaller party. For instance, in the United Kingdom a third party is a... third party to whom the payee owes or wishes to give money.


A payee that accepts a cheque will typically Main article deposit (bank) A deposit is a specific sum of money taken and held on account, by a bank as a service provided for its clients. A financial institution wishing to take deposits are generally required be under financial supervision, and to hold a banking license. The sum of... deposit it in an account at the payee's bank, and have the bank process the cheque. In some cases, the payee will take the cheque to a branch of the drawee bank, and cash the cheque there. If a cheque is refused at the drawee bank (or the drawee bank returns the cheque to the bank that it was deposited at) because there are insufficient funds for the check to clear, it is said that the cheque has The term non sufficient funds (NSF) is used in the banking industry to indicate that a demand for payment (a check) cannot be honored because insufficient funds are available in the account on which the instrument was drawn. Many banks will charge a fee for cheques which cannot be cashed... bounced.


When a maker directs the maker's bank to deduct the funds for the amount of a cheque from the maker's account, thus guaranteeing funds will be available for the cheque to clear, and the bank indicates this fact by making a notation on the face of the cheque (technically called an acceptance), the instrument is then referred to as a certified cheque.


A check used to pay wages due is referred to as a A paycheck is traditionally a paper document issued by an employer to pay an employee for services rendered. Recently, the physical paycheck has been increasingly replaced by electronic direct deposit. Paycheck is also a short story by science fiction writer Philip K. Dick, and was made into a motion picture... payroll cheque. Payroll cheques issued by the military to soldiers, or by some other government entities to their employees, beneficiants, and creditors, are referred to as A warrant is the right — but not the obligation — to buy or sell a certain quantity of an underlying instrument at an agreed-upon price. The right to buy the underlying instrument is referred to as a call warrant; the right to sell it is known as a... warrants.


When a cheque is designed to allow the person signing it to make an unconditional payment to someone else as a result of paying the account holder for that privilege, it is referred to as a A travelers cheque is a preprinted, fixed-amount check designed to allow the person signing it to make an unconditional payment to someone else as a result of having paid the issuer (usually a bank) for that privilege. As travelers cheques can usually be replaced if lost or stolen, they... travelers cheque. As travelers cheques can usually be replaced if lost or stolen, they are often used by people on vacation in place of cash. The use of A credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. A credit card is different from a debit card in that the credit card issuer lends the consumer money rather than having the money... credit cards has, however, rendered them less important than they previously were; there are few places that do not accept credit cards but do travelers cheques – in fact, nowadays, many places do not accept the latter.


A cheque sold by a Small-town post office and town hall in Lockhart, Alabama A post office is a facility (in most countries, a government one) where the public can purchase postage stamps for mailing correspondence or merchandise, and also drop off or pick up packages or other special-delivery items. Post offices also... post office or merchant such as a grocery for payment by a third party for a customer is referred to as a A money order is a check (finance) issued by an organization such as the Postal Service or sold by third parties such as grocery stores, convenience stores, or banks and other financial services companies, to allow individuals to make payments to each other or to pay bills such as utilities... money order or A postal order is used for sending money through the postal system. postal orders can be bought and redeemed at post offices, come in fixed denominations, and are legal tender in the UK. The fee for using this form of payment tends to be around 8%. Categories: Stub | Payment systems... postal order.


A cheque issued by a bank on its own account for a customer for payment to a third party is called a A cashiers check is a check issued by a bank on its own account for the amount paid to the bank by the purchaser with a named payee, and stating the name of the party purchasing the check (the remitter). The check is received as cash since it is... cashier's cheque or a treasurer's cheque. A cheque issued by a bank but drawn on an account with another bank is a teller's cheque.


In addition to issuing cashier's and teller's cheques, banks often sell money orders, and travelers cheques are usually purchased from banks.


Some Welfare has four main meanings. In general terms, the term welfare refers simply to well-being , the Human condition whereby people are faring well, that is: prosperous, in good health and at peace. In economics, welfare is associated with material benefit or preferred outcomes. Welfare has a specific meaning in... public assistance programs such as Women, Infants, and Children or Aid to Families with Dependent Children is a welfare program administered by the United States Department of Health and Human Services. It was created by the Social Security Act of 1935 as part of the New Deal. External links Aid to Families with Dependent Children Categories: Stub | U.S. Dept... Aid to Families with Dependent Children make vouchers available to their beneficiaries, which are good up to a certain monetary amount for purchase of Supermarket produce section A supermarket is a store that sells a wide variety of goods including food and alcohol, medicine, clothes, and other household products that are consumed regularly. It is often part of a chain that owns or controls (sometimes by franchise) other supermarkets located in the same or... grocery items deemed eligible under the particular program. The voucher can be deposited like any other check by a participating Supermarket produce section A supermarket is a store that sells a wide variety of goods including food and alcohol, medicine, clothes, and other household products that are consumed regularly. It is often part of a chain that owns or controls (sometimes by franchise) other supermarkets located in the same or... supermarket or other approved business.


See also

  • The Check Clearing for the 21st Century Act, or Check 21 Act is a United States public Law 108_100, enacted into law October 28, 2004 by the 108th Congress. This act allows authorized recipients of a paper check to convert it to a digital form. Images of both sides of... Check 21 Act, a The United States of America — also referred to as the United States, the U.S.A., the U.S., America¹, the States, or (archaically) Columbia — is a federal republic of 50 states located primarily in central North America (with the exception of two states: Alaska and Hawaii... US law

External links


  Results from FactBites:
 
Finance Check (1152 words)
The internal financing is a technique under which all profits of a company are not distributed amongst the shareholders as dividend, but a part of the profit is re-invested in the company.
Finance is universally considered as the life and soul of business, trade, commerce and industry.
Finance is highly cardinal part of a business, essential for a business organization, and very vital for execution of business plans.
Check verification service - Wikipedia, the free encyclopedia (327 words)
A check verification service is a business whose primary work can be defined as essentially maintaining two relational databases: one of personal identities, and the other of bounced checks.
Some check verification services also offer collection agency service for the civil prosecution of check fraud.
This failure to gather information outside their networks sometimes result in "false negatives," where the check is rejected, even though the account has sufficient funds, longevity, and no negative reports.
  More results at FactBites »

 
 

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