Anyone who need to can order personal checks and save themselves a bundle of money with the convenience online. Personal checks arose from an interesting development historically. Throughout history there has been a necessityfor the transfer of value. Safer and reliable methods of transfer starte thousands of years ago.
A check is a negotiable instrument. It instructs a financial company to pay someone a specific amount of money from a specified account held at an institution. It may be for a person or a company that the maker or depositor originates from.
Written checks have a long history dating back to the early Roman days. As early as 1 BC the need to eliminate the need to carry around cash and safely trade using checks started to gain popularity. Checks since then have been used as preferred instruments of trade.
Carrying gold around to do business could be very risky for an ancient merchant. Any draft or bill of exchange which could later be redeemed and payment guaranteed at a later time was a safer way to do business.
Checks generally contain: 1. place of issue 2. identification check number 3. date of issue 4. payee 5. amount of currency 6. signature identification of the drawer and 7. routing number.
The routing number is a 9 digit number. The first 4 numbers indicate the Federal Reserve bank processing center.
Digits 5 through 8 indicate the bank served by the check. The 9th digit is a verification digit and all digits are assigned independently by the various banks for identification purposes.
Fractional routing number (U.S. only) - also known as the transit number, consists of a denominator mirroring the first 4 digits of the routing number. And a hyphenated numerator, also known as the ABA number, in which the first part is a city code (1-49), if the account is in one of 49 specific cities, or a state code (50-99) if it is not in one of those specific cities; the second part of the hyphenated numerator mirrors the 5th through 8th digits of the routing number with leading zeros removed.
Today, when you need to order personal checks, most purchase them from banking institutions as well as online. Online checks can be purchased direct from the check printer thereby saving about 50%. The reduced cost is the result of cutting out the financial institution middleman.
A check is a negotiable instrument. It instructs a financial company to pay someone a specific amount of money from a specified account held at an institution. It may be for a person or a company that the maker or depositor originates from.
Written checks have a long history dating back to the early Roman days. As early as 1 BC the need to eliminate the need to carry around cash and safely trade using checks started to gain popularity. Checks since then have been used as preferred instruments of trade.
Carrying gold around to do business could be very risky for an ancient merchant. Any draft or bill of exchange which could later be redeemed and payment guaranteed at a later time was a safer way to do business.
Checks generally contain: 1. place of issue 2. identification check number 3. date of issue 4. payee 5. amount of currency 6. signature identification of the drawer and 7. routing number.
The routing number is a 9 digit number. The first 4 numbers indicate the Federal Reserve bank processing center.
Digits 5 through 8 indicate the bank served by the check. The 9th digit is a verification digit and all digits are assigned independently by the various banks for identification purposes.
Fractional routing number (U.S. only) - also known as the transit number, consists of a denominator mirroring the first 4 digits of the routing number. And a hyphenated numerator, also known as the ABA number, in which the first part is a city code (1-49), if the account is in one of 49 specific cities, or a state code (50-99) if it is not in one of those specific cities; the second part of the hyphenated numerator mirrors the 5th through 8th digits of the routing number with leading zeros removed.
Today, when you need to order personal checks, most purchase them from banking institutions as well as online. Online checks can be purchased direct from the check printer thereby saving about 50%. The reduced cost is the result of cutting out the financial institution middleman.
About the Author:
Before you order checks online, there are a variety of great discount checks covering a wide variety of categories that lend themselves to giving your bank checks a nice personal touch when you reorder.
No comments:
Post a Comment