Checking a cheque is a crucial step in verifying its authenticity and ensuring the funds are available in the account. Before accepting a cheque, it is essential to scrutinize various security features to protect against fraud and errors.
Cheques, also known as checks, have been a vital part of financial transactions for centuries, facilitating the transfer of funds between individuals and businesses. Historically, cheques were the primary method for making payments, but with the advent of electronic payment systems, their usage has declined. Despite this, cheques continue to play a significant role, particularly in situations where cash or electronic payments may not be feasible.
