📣Type of check

📣Type of check

The word cheque, meaning according to the Royal Institute dictionary, is a book of instruments in which a person, called the payer, orders the bank to pay a certain amount of money upon demand to another person or to use it at the order of another person, called the payee. Checks are used by business owners instead of cash. However, using checks is not easy. As we thought today, we will go to get to know more about the check.

📍 Types of checks

The classification of checks can be done in many ways. If they are divided according to the large commercial use under Thai law, they can be divided as follows:

- Name check is a check that the payer has written and issued for the bank to pay to the payee through a specified name.

- Bearer's check is a written check written by the payer for the bank to pay the money-bearer or according to the money-bearer's order.

📍 In addition, if divided according to details, checks can be divided into 7 types as follows:

1. Cash or Bearer's check

It is a type of check that can be cashed immediately.

2. Check the name of the payee (Order's cheque)

This type of check has the name of the recipient on the check, the recipient must withdraw the money by themselves.

3. Bank Check (Cashier's Check or Treasurer's Check)

It is a check issued by the bank in person for customers who bring cash to buy checks with the bank. It can only be used in the bank area.

4. Check that the bank accepts (Certified Check) is based on the money in the payer's account.

If the payer has enough money in the account, the bank will stamp it.

5. Counter Check

It is a check that can only be used within the bank. Used in the event that you want to use money suddenly but don't have a bank book, so this special check will be issued.

6. Traveler's Check

It's a check for people who are traveling but don't carry cash. Interested parties can purchase at various bank branches.

7. Banks Draft

It is a check that the bank will pay to customers who have on the bank's draft, which will be used to send money to both and abroad

📍Next will be details within the check with the following elements.

1. There is a saying that the name is a check.

2. An order that gives a certain amount of money without conditions for using the money.

3.Name or brand of the bank

4.Name or company of the payee

5. Signature (signature) of the person who pays the place of payment.

6. Date, month, year and place of issuing check

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