chèque

A chèque is a negotiable financial instrument that instructs a bank to pay a specific amount from the account of the drawer to a designated payee or to bearer. It functions as a written order to transfer funds rather than as an immediate cash payment. The cheque is typically deposited by the payee, who may then receive payment from the drawer’s bank.

Key elements include the date, the amount in numerals and in words, the name of the payee, the drawer’s signature, and the name of the drawee bank. Many cheques also feature a MICR line for automated processing, security features, and, in some jurisdictions, endorsements on the back that allow the payee to transfer the rights to another party. Cheques may be ordinary, or more secure forms such as certified or cashier’s cheques, which are guaranteed by the bank. A crossed cheque indicates that the funds must be paid through a bank account and not in cash.

Processing and clearing involve presenting the cheque to the bank, verification of funds, and settlement between banks, often through a clearing system. The period when a cheque can float before payment varies by country. In recent decades, many places have shifted toward electronic payments, image-based cheque processing, and remote deposit capture, though cheques remain in use for many personal and business transactions.

Risks and regulation include the possibility of dishonor for insufficient funds, closed accounts, or fraudulent signatures, as well as the option to issue a stop-payment order. Rules about stale-dated cheques, endorsement, and liability differ by jurisdiction.