Solving all doubts, how is a check good for business?

Solving all doubts, how is a check good for business?

Checks are very popular among business people. But checks are not as easy as they seem. because there are many limitations Therefore, today I will tell you about various knowledge about checks. And how is that check good for business?

There are two types of checks in Thailand by law as follows:

- Anonymous check is a check payer writes. for the bank to pay the payee

- Bearer's check is a check that the payer writes without specifying the payee. So anyone who holds that check can cash it.

In Thailand, it is further subdivided into 7 forms as follows.

1) A cash check is a check that can be cashed immediately. regardless of who will receive the money

2) Named payee cheque is a check with payee's name on it. If you want to transfer rights to someone else The name must be engraved on the back of the check.

3) Bank checks are checks issued by banks to customers who bring money to buy checks with banks. The check will have the signature of an authorized person in the bank. This kind of check can only be used in that area.

4) A bank check is a check that is certified by the bank when the payer has enough money in the account.

5) The check counter is a bank check for the account holder who wants to use the money quickly. urgently but did not bring the account book This check cannot be transferred to other people.

6) Travelers Checks are checks for travelers who do not want to carry a lot of cash.

7) A bank draft is a check issued by a bank to order another bank to pay a specified payee.

What must be included in one check?

1) The statement that it is a check is evidence showing that it is a bank check. Remember the check number

2) An order to spend money without conditions is specifying the amount.

3) Bank name

4) Payee name

5) Payer's signature

6) Check issue date Including the location

* The check will be effective only when items 1 - 5 must be completed *

What types of checks are there and what are the key check terms?

1) A crossed check is a check that has 2 lines drawn in the left corner of the cheque, which has 2 types as follows:

- General is a check that has only a line drawn in the left corner. In this manner, the payee will not be able to cash immediately. which the recipient of the check takes to the bank The bank will charge from the payer again.

- Specific is a check that has only a line drawn in the left corner. But needs are specified. This check will be paid to the bank as specified only.

2) Check endorsement is the transfer of the check's rights to others. Which can be subdivided into 2 types as follows

- Named endorsement check is a check in which the payee specifies the name of the assignee and the name of the payee.

- A floating endorsement check is a check where the payee does not specify the name of the transferee. which immediately becomes the bearer's check

3) Advance checks are checks that can be used as collateral. It will be dated as desired by the payer. This type of check is very popular in doing business.

4) Check Clearing is the process by which banks collect checks from each other.

5) A returned check is a check that the payer has insufficient funds to pay. Also known as bounced checks

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