 |
 |
 |
 |
 |
 |
 |
 |
 Consumer Education |
Find a Store |
About Us |
Sign Up for Special offers and Promotions |
Follow Us On
 |
|
Check Writing 101
A check is a negotiable instrument issued to an account holder by a bank. This document can be used to pay someone a specific amount of money on a certain date. You can write a check to any business or person as a way to transfer money from your bank account to them. Below are some basic tips to help you write a check and a breakdown of the check form to help you write your checks.
Basic Check Writing Tips
- Always write legibly or type your checks in ink to prevent anything from being altered or changed.
- You should complete each check section carefully to ensure accuracy. Errors in the body of the check could cause it to be rejected or delay the processing of your check by your bank.
- For personal checks – the signature line must be signed by you. Your check is not legal until you sign it.
- Always be sure to write your check amount at the very beginning of the blank line. This minimizes the chance for anyone to make unauthorized changes to your check.
- Do not leave any blank areas on your check. Draw a line through any open spaces.
- Be sure that amount written out in words is an exact match to the number amount written in the small box that starts with a dollar sign i.e. $123.45. - Note: If for any reason, the two amounts differ, the written amount is the legally accepted amount.
- In order to protect your account, never sign a blank check!
- Destroy any voided checks.
- Record all checks in your Check Register.
Parts of a Check
1. The Date
The date line appears in the upper right-hand corner of a check. Write out the date that you are writing the check or a future date in which you want the check to be cashed. All common date formats are acceptable in this line; i.e. June 1, 2010, 6/1/10, etc. If you put in a future date, this is known as a post-dated check. Many businesses will not accept this, but other payees may find it appropriate. In short, the party that receives the check will not be able to cash or deposit the check until the date indicated on the check.
2. Maker/Payor
The maker is person or entity who owns the account and who signs the check to the Payee.
3. Payee
A payee is the party that receives the check. In the "Pay to the Order Of" line, you should write out the full name of the business, individual or organization that you are making payment to.
4. Dollar Amount
Within the rectangle box, right after the $ sign, use numbers to indicate the amount of the check in dollars and cents; i.e. $10.50.
5. Written Amount
Start at the beginning of the blank line and spell out the amount of the check in words. Amounts that are less than one dollar should be represented by a fractional amount of xx /100 at the end of the line i.e. Ten and 50/100 dollars. Should this differ from the dollar amount, the written field is the legally accepted amount of the check.
6. Memo
This line can be used to write short notes regarding payment details; i.e. “March Rent”.
7. Signature
The maker or payor is the party that writes the check. The check is not considered legal until it bears a signature. Sign your full, legal name onto each check.
8. Check Register
Record the amount of the check in your Check Register. To avoid any “bounced” check charges, make sure that you keep a record of each check that you write. Deduct the amount of each check you write from the previous balance in your account.
FREQUENTLY ASKED QUESTIONS ABOUT CHECK CASHING
What is required to cash a check at Money Mart?- A customer account at Money Mart – proper identification is preferred to open the account
- A minimum of (1) personal reference
- A post-dated check
The machine reads the micro encoding that is stamped at the bottom of the check and captures the account reference information from the check.
Who is the responsible for bad checks cashed at Money Mart?
The person who wrote the check is held responsible to pay back the check amount if the check is not approved by your bank. A bank may not approve the cashing of the check if there are not sufficient funds in the check account or if there are other discrepancies with the check or check account.
What types of checks can I cash at Money Mart?
Government, Insurance, Money Orders, Payroll, Personal, Post-dated, Small Business, U.S. Dollar and more! Call your local Money Mart for more information.
The above information is provided to help you in basic check writing and may not include all the information that you need. Please consult with your bank or financial institution regarding any questions or concerns you may have regarding your checks and you checking account.
Payday loans should be used for short term financial needs only, not as a long-term financial solution.
Legal Disclaimer: Information provided on the Consumer Education section of this website is believed to be accurate and reliable when placed on this site. Dollar Financial Group cannot guarantee it is accurate, complete or current at all times. Information on this site is for informational purposes only and is not intended to provide financial, legal, accounting or tax advice and should not be relied upon in that regard. You should seek guidance from a certified financial advisor or credit counselor for specific advice that is applicable to your individual situation.