Did you know that there are more than one kind of check? Learn more about them here and don't miss out on these unique check cashing features.
Checks can be used for many purposes. Checks are harder to become lost or stolen, they can make large purchases more secure, they can make it easier to send money to foreign countries without having to exchange foreign currencies, and check cashing is a relatively easy errand to run at any local check cashing store.
Even if you've never used a check before, you probably know what they are. But did you know that there are different kinds of checks? There are many kinds of checks that come from different financial providers and offer many different kinds of useful features.
A bank check is what's considered to be a regular or traditional check. They are given to you or bought by you through your bank or credit union. You can buy a booklet of bank checks that are usually linked to your checking account.
Payroll checks and paychecks are the same things. A check that's given to you from payroll, the division at your job that handles employee income payments, is a paycheck or a payroll check. Paychecks are usually given on a scheduled basis like once a week, once a month, or once every two weeks. Employees might also choose to enroll in direct deposit so that their income deposits directly into their bank account rather than getting a physical check.
E-checks are electronic checks. They are a digital version of a check. Check out your bank account to see if they offer e-check services. Electronic checks are a type of electronically certified bank check that you can use to make secure online payments.
A traveler's check is exactly what it sounds like—a check designed specifically for someone who is traveling. A traveler's check is a kind of prepaid check that can be used like cash while you're traveling away from home. Traveler's checks are usually insured in some way so they can be safer to carry around while you travel than cash.
A personal check is a bank check from someone's personal bank account. Personal checks are going to be found in someone's personal checkbook. You can buy your own personal checkbook at your bank or credit union.
A money order is a little like a prepaid check. At agent locations, you can get a money order, which will then act as a prepaid paper form of payment. Western Union is a common money order provider.
A certified check is a type of prepaid check. Regular checks are not prepaid but are paid for when the check recipient deposits the check they've been given. A prepaid certified check is paid for by the check giver when they take out the check and pay the amount ahead of time.
A cashier's check is another type of prepaid check. These checks are also taken out by the bank account owner and are created by the issuing bank. Now you'll have a prepaid check, already paid for, and written out to the intended recipient.
As you can see, cashier's checks and certified checks are very similar. They're both prepaid, secure forms of payment. The key difference between them is who signs them and how they are prepaid.
Cashier's checks are signed by the bank while certified checks are signed by you, the person giving the check. Cashier's checks are paid by the bank's account and then you pay the bank while certified checks are paid by your own account. And that's the difference between a cashier's check vs certified check.
Cashier's checks and money orders are very similar. They are both prepaid payment options that give the cashier check or money order purchaser a secure paper payment to use. The main difference is that cashier's checks are issued by a bank and a money order can be issued by any money order location.
Cashier's checks and personal checks are both checks but that's mostly where the similarities end. A cashier's check is prepaid while a personal check is not. A cashier's check is also issued and paid for by the bank while personal checks are paid directly from a personal bank account.
When you have a business you need a way to accept payments from your customers. Customers might pay with debit cards, credit cards, cash, or checks. When a customer pays a business with a check, this check is called a commercial check because the name on the check isn't a personal name but the name of a company.
You can also order business checks that are linked to your business bank account so that you can write and give checks in the name of your business.
A government check is exactly as it sounds—a check written to you by the government. This can include checks like financial aid, a government grant, social security checks, unemployment benefits, food stamps, or a tax refund.
One type of government check that many taxpayers will be familiar with, is a tax refund check. This is written by the IRS and given to taxpayers who qualify to receive a tax refund. Tax refunds are sent out during tax season after a taxpayer has sent the IRS their tax return.
An insurance check is written and paid for by the insurance company after something that qualifies for an insurance payment occurs. For example, if you get into a car accident and your car needs repairs, you might qualify for a payment from your insurance to help with car repair costs. Insurance checks are then often written out to two parties, you and the auto repair shop, to ensure that the funds are used for their intended purpose.
The thing about out-of-state checks is that they can be any check, so long as the check issuer is from out of state. A check becomes an out-of-state check when the check writer's bank account doesn't exist in the state where the check is being deposited. This can sometimes make it more difficult to use checks when your check provider doesn't operate in that state you're in.
There are so many different kinds of checks and all of them have their own useful features. Don't miss out on some really useful financial resources and don't forget to use checks and money orders for your secure payment needs.
Payday Loans are also commonly referred to as Cash Advances, Payday Advances, Payday Advance Loans, and Fast Cash Loans. Check City does not usually utilize traditional credit checks as part of the payday loan approval process. However, Check City may, at its discretion, verify application information by using national consumer loan underwriting databases that may include information relating to previous cash advance transactions that Check City may take into consideration in the approval process. Actual loan amounts vary. See Rates and Fees for specific information and requirements. Products or services offered to customers may vary based on customer eligibility and applicable state or federal law. Some customers applying for payday loans or installment loans may be required to submit additional documentation due to state law and qualification criteria. CheckCity.com provides loan services in: Alabama, Alaska, California, Hawaii, Idaho, Kansas, Missouri, Nevada, Texas, Utah, Washington, Wisconsin, and Wyoming. Customer Notice: A single payday advance is typically for two to four weeks. However, borrowers often use these loans over a period of months, which can be expensive. Payday advances are not recommended as long-term financial solutions. Loan proceeds issued through our website are generally deposited via ACH for next business day delivery if approved by 8pm CT Mon. – Fri.
Check City acts as a credit services organization/credit access business (CSO/CAB) in Texas.
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