Check

Check: A check is a written order directing a bank to pay a specified amount of Money from a person’s account to the person or entity named on the check.

Examples:

• A personal check written to a friend for reimbursement of dinner expenses.
• A business check issued to a vendor for services rendered.

Cases:

• When a check is cashed, the funds are immediately deducted from the account of the check writer.
• If a check bounces, it means there are insufficient funds in the account, and the bank will not process the payment.