How does "check" payment work
Living in Japan I don't see a lot of "check" payment. We often see it being used in TV shows and movies. But how do they work? Will we ever need to know how to use them? Well just in case, I looked up the definition of "check" and this is what came up at the very top.
To my my understanding a check is paper that allows who ever has the paper to draw the amount of money that is on the paper from whoever owns the check or the payee.
With all the cashless payment like credit cards and Apple pay being so advanced, I can't see a situation where we will need to write a check. But having this in the back of the mind wouldn't hurt and who knows, when all technology goes down we might need to use checks again.
EverythingFinance. (n.d.). Everything Finance. Retrieved from
https://everythingfinanceblog.com/861/what-is-a-check-and-how-does-it-work.html
Pritchard, J. (2019, May 20). Pros and Cons of Duplicate Checks. Retrieved from https://www.thebalance.com/duplicate-checks-the-basics-315295
A check is a written order on a credit union, bank, or savings institution, by the account owner, payable on demand to the person named on the check (payee), to that person's order, or the bearer. The check is drawn on funds on deposit in the account owner's checking account.
With all the cashless payment like credit cards and Apple pay being so advanced, I can't see a situation where we will need to write a check. But having this in the back of the mind wouldn't hurt and who knows, when all technology goes down we might need to use checks again.
EverythingFinance. (n.d.). Everything Finance. Retrieved from
Pritchard, J. (2019, May 20). Pros and Cons of Duplicate Checks. Retrieved from https://www.thebalance.com/duplicate-checks-the-basics-315295
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