The cashless payment system has many tools to work with. It is quite convenient, because you do not need to deal with cash, and the procedure for settlements between clients, even those located in different parts of the world, is greatly simplified. One such settlement mechanism is bank checks. Consider what it is, what types are, how to cash checks.
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What is a bank check?
A bank check is a security used in cashless payments. It contains the order of the drawer to issue the specified amount of money to the holder of the check document.
The drawer is a bank customer who has an account. He manages his account and the money on it by issuing check documents.
The check holder is the person who received the check.
The check form is a short-term, strict form. It does not have the title of legal payment item, but it has its own value. It contains the client's request to transfer his funds to the person indicated in the check.
Only banking institutions have the right to pay the amount using check forms. For them to be able to pay funds on checks, the client must conclude a check agreement with them. This obliges the payer to fulfill the obligations subject to the established rules.
Both individuals and companies have the right to use the check. A checkbook is issued to a bank client on the basis of a concluded agreement. It has 10, 25 or 50 forms of the established sample of the Central Bank of the Russian Federation.
All conditions for using checks are regulated by the Civil Code of the Russian Federation and other laws and banking rules. In Russia, only those forms on which the word "Russia" and two parallel lines are indicated will be accepted for payment.
Check Form Data
To process a check by a bank, it must contain mandatory details that are prescribed by the Civil Code of the Russian Federation, the Tax Code of the Russian Federation and other rules.
A correctly completed form must contain the following information:
In the absence of any of the specified information, the form loses its validity, and the bank will refuse to cash out.
Validity of checks
The check has a set validity period, after which it becomes invalid:
Types of checks
By type of settlement, checks are:
Depending on the type of recipient, checks are divided into:
Cashing a check
Cashing out check forms is called collection. To carry out this procedure, you must first find a bank branch that will accept the check for collection. This procedure is not in demand among Russian banks, therefore, only a few institutions are engaged in cashing checks.
To cash a ruble check, you need:
To cash a currency check, you need:
Article content
- What is a bank check?
- Check Form Data
- Validity of checks
- Types of checks
- Cashing a check
What is a bank check?
A bank check is a security used in cashless payments. It contains the order of the drawer to issue the specified amount of money to the holder of the check document.
The drawer is a bank customer who has an account. He manages his account and the money on it by issuing check documents.
The check holder is the person who received the check.
The check form is a short-term, strict form. It does not have the title of legal payment item, but it has its own value. It contains the client's request to transfer his funds to the person indicated in the check.
Only banking institutions have the right to pay the amount using check forms. For them to be able to pay funds on checks, the client must conclude a check agreement with them. This obliges the payer to fulfill the obligations subject to the established rules.
Both individuals and companies have the right to use the check. A checkbook is issued to a bank client on the basis of a concluded agreement. It has 10, 25 or 50 forms of the established sample of the Central Bank of the Russian Federation.
All conditions for using checks are regulated by the Civil Code of the Russian Federation and other laws and banking rules. In Russia, only those forms on which the word "Russia" and two parallel lines are indicated will be accepted for payment.
Check Form Data
To process a check by a bank, it must contain mandatory details that are prescribed by the Civil Code of the Russian Federation, the Tax Code of the Russian Federation and other rules.
A correctly completed form must contain the following information:
- The text must contain the word "Check".
- The amount must be written in numbers and letters indicating the currency.
- Payer's data with details of the account from which the money is paid or the payment is made.
- Date of filling in the check.
- Personal signature of the drawer.
In the absence of any of the specified information, the form loses its validity, and the bank will refuse to cash out.
Validity of checks
The check has a set validity period, after which it becomes invalid:
- In Russia, the validity period is 10 days from the date of discharge.
- In the CIS countries - 20 days.
- In other countries - 70 days.
Types of checks
By type of settlement, checks are:
- Cash. They are used to pay cash to the bearer of the form.
- Estimated. They are used for making non-cash payments. They contain an order from the account holder to transfer the specified amount to the account of the person indicated in the check. Checkout checks are divided into covered (when the bank makes a payment only if there is money in the client's account) and uncovered (when the bank transfers money at its own expense, if the client temporarily does not have money in the account).
Depending on the type of recipient, checks are divided into:
- Nominal. They are issued for a specific person. Only he can receive money and make a payment.
- Order. They are issued in favor of a specific person, but can be given to another person. The transfer inscription is made on the back of the check document.
- Bearer. They are issued to bearer. It may not contain the drawer, or the transfer record may be missing.
Cashing a check
Cashing out check forms is called collection. To carry out this procedure, you must first find a bank branch that will accept the check for collection. This procedure is not in demand among Russian banks, therefore, only a few institutions are engaged in cashing checks.
To cash a ruble check, you need:
- Go to the office with a passport
- Write an application for the provision of collection services.
- Provide a correctly completed check.
- Take a copy of the completed application (the original remains with the bank).
- In the presence of a bank employee, make a transfer inscription and sign with your full name.
- Pay the bank commission to the cashier for collection (average 1-5% of the amount indicated on the check).
- After the bank checks the specified data, the money will be issued or the payment will be made. The crediting time depends on the bank in which the drawer's account and the check recipient's account are located.
To cash a currency check, you need:
- Go to the bank and write a statement (take a copy for yourself).
- Open a foreign currency account (if the check is checking).
- Pay the collection commission at the cash desk.
- In the presence of a bank employee, sign and make an endorsement.
- When cashing out an amount over $ 5,000, you must provide a document confirming the legality of receiving money. If the employer writes out the check, then along with the check he can transfer such a document.
- After all the procedures, the bank checks the information and sends the check to the drawer's bank, which confirms its legality. After confirmation, the currency is credited to the bank account of the check recipient. The time from presentation of the check to receipt of currency to the account or in cash is at least two months.
