The bank check is a cash substitute payment instrument with which the current account holder orders his bank to pay a specific sum of money to another person - the beneficiary. It allows a person to make payments, even for large amounts, without using cash. It also helps a person monitor his expenses and payments more easily.
The check is a pre-printed document with a standard scheme. If the bank authorizes a person to make payments by check, this person will have to deposit his signature on a specific document, which will be used by the bank to verify the authenticity of the signature. It is necessary that the banks take every precaution to avoid the dangers inherent to fraudulent use of the checks, and this is made through a check scanner.
When somebody fills out a check, he must do it using an indelible ink pen. In particular, the following must be indicated:
- the place in which the check is issued;
- the date of issue;
- the amount in figures and letters, always with two decimals;
- the name of the beneficiary indicating the person or company in whose favor the payment order is made;
- the signature, which has to be the same as the one the bank already has in its database.
All these data will be checked through a check scanner and if a problem arises, the check is considered invalid. Moreover, the complete and correct compilation is a form of protection for the customer who issues it, especially against the risk of alteration of its content.
The use of a check presupposes the presence on the bank account of a sum of money sufficient to guarantee the coverage of the amount. The issue of a check without this provision, entirely or in part, constitutes an improper use and is punished with an administrative pecuniary sanction, as well as the prohibition to issue checks for a certain period of time.
In the event a person decides to close his bank account, it is important to verify that all the checks issued have been cashed in order to avoid the risk of pecuniary sanctions.
If you are the one issuing a check, it is important to correctly report the date and place of issue, because the beneficiary has 8 days to collect it, if the check is issued in the same municipality or 15 days in the other case. After 8 or 15 days, depending on the case, the issuer can order the bank to stop the payment.
In the event of theft or loss, you have to report immediately to the Police. For instance, in the event of failure to report, you can be held responsible for any damage resulting from the fraudulent use of your checks.
So, with bank checks you do not mess around. Banks know it pretty well. For this reason, they are protecting themselves using checks scanner by Panini (Panini.com).