Checks
A check is a written order directing a bank to pay a specific amount of money from one person's account to another. It typically includes the date, the name of the payee, the amount in both numbers and words, and the signature of the account holder. Checks are often used for transactions where cash is not practical, such as paying bills or making purchases.
When a check is deposited, the bank verifies the account and ensures there are sufficient funds before processing the payment. If the account has enough money, the funds are transferred to the payee's account. If not, the check may bounce, leading to fees for both the payer and the payee.