Anyone who need to can order personal checks direct from a commercial printer and save themselves a bundle. Personal checks arose from an interesting development historically. Throughout history there has been a needfor the transfer of value. Safer and reliable methods of transfer began thousands of years ago.
Checks are negotiable instruments that work as an order to transfer money. It identifies the sender and the receiver and specifies the amount of money negotiated. The parties involved may be corporations, LLC's or individual persons.
Written checks have a long history dating back to the early Roman days. As early as 1 BC the need to eliminate the need to carry around cash and safely trade using checks started to gain popularity. Checks since then have been used as preferred instruments of trade.
Carrying gold around to do business could be very risky for an ancient merchant. Any draft or bill of exchange which could later be redeemed and payment guaranteed at a later time was a safer way to do business.
The important parts of a check are: 1. signature identification of the drawer 2. currency amount 3. payee 4. date of issue 5. place of issue 6. check number ID and 7. routing number.
Routing / account numbers are in MICR format. It is a 9 digit number. The first 4 numbers identify the Federal Reserve Bank processing center.
Digits 5 through 8 indicate the bank served by the check. The 9th digit is a verification digit and all digits are assigned independently by the various banks for identification purposes.
Fractional routing number (U.S. only) - also known as the transit number, consists of a denominator mirroring the first 4 digits of the routing number. And a hyphenated numerator, also known as the ABA number, in which the first part is a city code (1-49), if the account is in one of 49 specific cities, or a state code (50-99) if it is not in one of those specific cities; the second part of the hyphenated numerator mirrors the 5th through 8th digits of the routing number with leading zeros removed.
In today's computer world one has the choice to order checks online or from the financial institutions. When one purchases online, they're able to purchase direct from check printer manufacturing concern. When done so, they're able to save about 50% off what the financial institutions charges.
Checks are negotiable instruments that work as an order to transfer money. It identifies the sender and the receiver and specifies the amount of money negotiated. The parties involved may be corporations, LLC's or individual persons.
Written checks have a long history dating back to the early Roman days. As early as 1 BC the need to eliminate the need to carry around cash and safely trade using checks started to gain popularity. Checks since then have been used as preferred instruments of trade.
Carrying gold around to do business could be very risky for an ancient merchant. Any draft or bill of exchange which could later be redeemed and payment guaranteed at a later time was a safer way to do business.
The important parts of a check are: 1. signature identification of the drawer 2. currency amount 3. payee 4. date of issue 5. place of issue 6. check number ID and 7. routing number.
Routing / account numbers are in MICR format. It is a 9 digit number. The first 4 numbers identify the Federal Reserve Bank processing center.
Digits 5 through 8 indicate the bank served by the check. The 9th digit is a verification digit and all digits are assigned independently by the various banks for identification purposes.
Fractional routing number (U.S. only) - also known as the transit number, consists of a denominator mirroring the first 4 digits of the routing number. And a hyphenated numerator, also known as the ABA number, in which the first part is a city code (1-49), if the account is in one of 49 specific cities, or a state code (50-99) if it is not in one of those specific cities; the second part of the hyphenated numerator mirrors the 5th through 8th digits of the routing number with leading zeros removed.
In today's computer world one has the choice to order checks online or from the financial institutions. When one purchases online, they're able to purchase direct from check printer manufacturing concern. When done so, they're able to save about 50% off what the financial institutions charges.
About the Author:
Before you order bank checks find ones that surpass American Bankers Association standards at half off. Order designer personal, bank business checks, computer checks, address labels, checkbook covers or business cards direct from the printer at http://checks-supplies.com/bank_checks.htm
No comments:
Post a Comment