BNET Business Dictionary
Business Definition for: Check
- an order in writing requiring the banker to pay on demand a certain sum in money to a specified person or bearer. Although a check can theoretically be written on anythingâ€"in a P.G. Woodhouse story, one was written on the side of a cowâ€"banks issue preprinted, customized forms for completion by an account holder who inserts the date, the name of the person to be paid (the payee), the amount in both words and figures, and his or her signature. The customer is the drawer.
- U.K. term Cheque
Wiktionary Definition for: Check
- (US) a note promising to pay money to a named person or entity
- Ex:''I was not carrying cash, so I wrote a check for the amount.''
- (US) a mark like a v or sometimes x used as an indicator. Equivalent of a (UK) tick; also, a checkmark: √
- Ex: ''Place a check by the things you have done.''
- (usually plural) a pattern made up of a grid of squares of alternating colors; a checkered pattern
- Ex: ''The tablecloth had red and white checks.''
- a bill, particularly at a restaurant
- Ex: ''I summoned the waiter, paid the check, and hurried to leave.''
- a control; a limit or stop
- Ex: ''checks and balances''
- an inspection; examination
- Ex: ''I don't know if she will be there, but it's worth a check.''
- (''Chess'') The situation in which the king is directly threatened by an enemy piece.
- to inspect; to examine
- Ex: ''Check the oil in your car once a month.''
- Ex: ''Check whether this page has a watermark.''
- to mark with a checkmark
- Ex: ''Check the correct answer to each question.''
- to control, limit, or halt
- Ex: ''Check your enthusiasm during a negotiation.''
- to verify or compare with a source of information
- Ex: ''Check your data against known values.''
- to leave in safekeeping
- Ex: ''Check your hat and coat at the door.''
- to leave with shipping agent for shipping
- Ex: ''Check your bags at the ticket counter before the flight.''
- to physically remove a person from play
- Ex: ''The hockey player gave a good hard check to obtain the puck''
Additional Resources
- Check 21: The Check Is Dead, Long Live Its Image
- This paper outlines on check 21 regulations. Although Check 21 directly addresses only the creation of a substitute check, it indirectly revolutionizes check processing by opening the door to check truncation and image exchange. First and foremost, Check 21 does not make a check image or an electronic check presentment...
- White papers 2004-10-12
- Check 21 to Improve Check-Clearing Efficiency
- This paper briefs how Check 21 can help in improving check-clearing efficiency. Check 21 will primarily affect banks. It aims to improve check-clearing efficiency by facilitating check truncation, i.e., removing the original paper check from the clearing process. Check 21 gives banks the ability to remove the original paper check...
- White papers 2004-06-02
- Check 21: Where Are You on the Adoption Curve?
- Check 21, which will become effective October 28, 2004 one year after signage, encourages, without mandating, check truncation by removing the legal impediments to check truncation that require delivery of the original paper check to the paying institution in order to constitute legal presentment. Instead, original paper checks can be...
- White papers 2004-02-07
- Consolidation Continues for Paper-Based Check Exchanges as The Industry Prepares for Check 21: The Connecticut Clearing House Joins The National Check Exchange (NCE), The Largest Check Exchange by Dollar Volume in the U.S.
- The article refers to the Check 21 legislation. NCE is already the largest regional check exchange by dollar volume in the U.S. The additional volume helps NCE to continue to reduce costs and increase efficiency of the check clearing process. It also adds momentum to NCE's drive to standardize, rationalize,...
- White papers 2003-08-28
- How Check 21 Will Impact Your Business: 3 Ways the Banking Act Will Affect Entrepreneurs
- This article focuses on the Check 21 legislation and the effects it would have on entrepreneurs. In a nutshell, Check 21 allows banks to replace paper checks with a digital copy of the check, called a substitute check. Once a paper check has been transformed into a substitute check, the...
- White papers 2004-09-13
- Check 21 Issue Brief - Consumer Protections Under U.S. Check Law
- The Check 21 Act provides protection for consumers against any loss that may occur as a result of their receipt of a substitute check, instead of the original check. This document has been prepared to summarize the application of consumer protections to original checks, check images and substitute checks under...
- White papers 2004-09-14
- Fed publishes guide on electronic check conversion
- A guide to help consumers better understand their rights and responsibilities with regard to electronic check conversion transactions has been published by the Federal Reserve Board. The guide, When Is Your Check Not a Check? Electronic Check Conversion, discusses what electronic check conversion is, how consumers can tell if a...
- Research articles 2002-05-01
- Fed approves proposed rule for Check 21 Act
- A proposed rule to amend Regulation CC and its commentary to implement the Check Clearing for the 21st Century Act has been approved by the Federal Reserve Board. The Check 21 Act becomes effective Oct. 28, 2004.To facilitate check truncation and electronic check exchange, the Check 21 Act authorizes a...
- Research articles 2004-02-01
- Action Steps for Check 21
- The Check Clearing for the 21st Century Act, also known as Check 21, promises to influence the banking industry for years to come. By requiring all financial institutions to accept digital reproductions of the original check from an electronic transmission substitute checks, Check 21 paves the way for eliminating much...
- White papers
- Check 21 (the Check Clearing for the 21st Century Act) Potential Opportunities and Implications for Financial Institutions
- Check 21 aims to facilitate the broader use of electronic check processing, without requiring any bank to change its current check collection practices. Its many proponents believe that the law represents an important step in streamlining check processing and, in doing so, reducing some of the risks inherent in today's...
- White papers 2004-06-10
- American Airlines puts passengers in control with enhanced AA Self-Service Check-In machines; Streamlined check-in enables passengers to check bags, obtain boarding passes, request upgrades and more -- all in significantly less time.
- M2 PRESSWIRE-20 July 2004-American Airlines: American Airlines puts passengers in control with enhanced AA Self-Service Check-In machines; Streamlined check-in enables passengers to check bags, obtain boarding passes, request upgrades and more -- all in significantly less timeC1994-2004 M2 COMMUNICATIONS LTD RDATE:07192004 ...
- Research articles 2004-07-20
- Countdown to Check 21: Are You Ready?
- Check ProcessingThe official launch date for Check 21 is just about four months away. Basically, the new law allows any bank to truncate an original check and forward a paper substitute check, also known as an image replacement document IRD, in its place.As long as it complies with specific standards,...
- Research articles 2004-06-15
- Check 21 Legislation: What Must be Done Now and What can Wait Regarding the Check 21 Act
- The article refers to the Check 21 legislation. Check 21, or "Check Clearing in the Twenty-First Century Act", is an initiative by Congress to revise the rules governing the exchange of checks between financial institutions, which essentially enables a more electronic check collection system for the country. While it does...
- White papers
- Check 21 Resource Document
- The article refers to the Check 21 legislation. The Check Clearing for the 21st Century Act (Check 21 Act) facilitates significant change in the way checks are processed in the United States. All banks will be affected by this law even if they do nothing to change their current check...
- White papers 2004-03-01
- Check 21: Consumer Protections Under U.S. Check Law
- This document has been prepared to summarize the application of consumer protections to original checks, check images and substitute checks under both traditional check law and the provisions of the Check Clearing for the 21st Century Act ("Check 21 Act"). This document is for discussion purposes only, and nothing in...
- White papers 2004-09-08
- Check 21 Rules Present Banks With New Challenges
- The Check Clearing for the 21st Century Act, which will go into effect Oct. 28, will allow financial institutions that receive a check from another bank to send an image of the check rather than the physical paper check to the paying bank. As a result, new image exchange, archiving...
- White papers 2004-09-06
- Check 21: Turning Costs Into Opportunities
- Check scanning equipment that captures images for electronic use has been around for decades. Already widely accepted in Europe, check imaging devices have been used around the world to build image archives for online systems, reduce data entry and truncate paper. But in the United States, the full breadth of...
- White papers 2003-10-06
- Check Clearing for the 21st Century Act: Printing Implications for Financial Institutions and Service Bureaus
- In an effort to improve the efficiency of the U.S. payment systems and minimize risky dependence on planes, trucks and trains to transport paper checks, the U.S. government drafted and enacted the Check Clearing for the 21st Century Act. Also known as Check 21, the act was signed into law...
- White papers 2004-11-18
- Whether Check 21's News Is Good Or Bad Depends On The Viewpoint
- The good news: the Check Truncation Act, or Check 21, will mean checks will clear faster. The bad news: Check 21 will mean checks will clear faster. The good news: the Check Truncation Act, or Check 21, will mean checks will clear faster. The bad news: Check 21 will...
- Research articles 2003-12-15
- Security Check please - Cool Clicks - Symantec's free Security Check - antiviruses - Brief Article
- Six million surfers can't be wrong. As of last October, that's how many had taken advantage of security software company Symantec's free Security Check at www.symantec.com/securitycheck. The Security Check won't do the dirty work of actually cleaning up your computer, but it will give you an assessment of potential problem...
- Research articles 2002-04-01
