Cheque

One of the few things that is known to everyone is the cheque, or the check as it is called in some countries.

However these are now seen less with banks more and more trying to phase them out in favour of electronic payments instead - gone are the days of everyone paying for their food in the supermarket by writing out a cheque.

These are demands drawn on a bank, and requires a stop payment to render them invalid.

If a cheque cannot be drawn successfully for whatever reason it is said to have bounced - often this will be if there are not sufficient funds to cover the amount of the cheque for instance.

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