The check is a credit document or instrument which is issued by a person which gives order to the bank where they have saved some resources to give an amount of money a person if that name appears as beneficial .
In the market there are several types of checks designed for different situations. Here we see the different types of checks out there.
Cashier’s check: These types of checks have the characteristic that the recipient has not indicated a specific person. These checks can be used as payment from one person to another without the need to endorse it.
Cheque nominative: these types of checks are being made to a beneficiary fixed. This beneficiary can only endorse once. One feature is that when going to charge the beneficiary must carry an identification document.
Cashier’s Check: These types of checks are a lender which is issued and can only be paid at branches or subsidiaries of these entities. These checks are always performed under the name of a person and also non-negotiable.
Certified check: These types of checks are the banks to certify that the person has sufficient funds to pay the beneficiary. These types of checks should also be regulatory obligation.
Cross check: These types of checks are carrying two lines drawn parallel to these is not cashed the check effectively. Similarly there are two types of cross-checks:
• General: This is the path that leads in two parallel, which is not determined by the bank.
• Special: is in the midst of the parallel lines bearing the name of the bank where they charged it.
Traveler’s Check: These types of checks are those issued in banks and only be charged at the main offices or branches that are within the country or abroad.
These are the main types of checks on the market.
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