What is a personal check?

Personal check, spent check in the UK, is a document that facilitates the payment of money between an individual and another person or business. Check that users can also use a personal check to transfer money between accounts held in various financial institutions. He orders the check to the bank or other financial institution to pay the money from his customer's account to the receipt of the check. Historically, personal control has been used as a way to pay safely for goods and services without the risks associated with the transfer of paper money. Checks also provide documentation on money payments that can help prevent disputes and help people watch their finances.

For the use of personal checks, the individual must contain an account in the bank, credit union or investment company. He will be able to buy paper checks or print them from his personal computer that bears his account number and a routing number that identifies his bank. When uses a personal checkpay, the recipient of the check can then save the check toto take your own check account or in some cases a check to the bank of the check. If the issuer of the check has sufficient funds to his account to cover its value, its bank will pay the recipient the nominal value of the check.

until the arrival of debit cards and the common use of credit cards were personal checks by the primary method of payments used by everyday consumers. This was partly a question of comfort and personal safety, because the transfer of large amounts of cash could be irregular and make the carrier vulnerable to theft. The second advantage of using a personal check was that a paid or canceled inspection could be used to prove that the writer of the check actually made a payment. The canceled check also documents the date on which the recipient submitted the check for the payment.

the problem of personal stuffing the hell is that while a personal check is a trading tool that ktErý can be legally replaced for cash, its value is largely dependent on the writer's honesty. Until the check is truly awarded by the Bank of the Control Writer, its recipient cannot be ensured that it actually receives payment. If the writer's account does not have enough funds to pay the amount stated on the check, its bank may refuse to pay the check and leave its recipient unpaid. Therefore, many businesses and individuals now prefer to pay by other funds, such as a credit or debit card that provides an automatic confirmation of whether a person making payment has funds to make a payment.