wissels

Wissels is the plural form of the Dutch word wissel, which refers to a negotiable financial instrument known in English as a bill of exchange or promissory note. A wissel is a written order, typically issued by a drawer, directing a drawee to pay a specified sum to a named payee, either on demand or at a future date. The instrument can be transferred by endorsement, allowing the rights to be passed to another holder. In international and domestic trade, wissels were historically used to facilitate payments across borders and time.

In practice, a wissel contains key elements such as the names of the parties (drawer, drawee, and payee), the amount, the place and date, the maturity or payment terms, and sometimes interest. If the drawee fails to pay on the due date, the holder may protest the non-payment, a step that can support legal action or collection efforts. Over time, the use of wissels declined in many jurisdictions with the rise of alternative payment methods, though they remain a recognized concept in historical contexts and in some legal frameworks.

Beyond its financial sense, wissel also appears in Dutch terms related to exchange more broadly. The verb wisselen means to exchange or switch, and related phrases include wisselkoers (exchange rate) and wisselkantoor or wisselkantoor (currency exchange office). In modern usage, the English equivalents bill of exchange or negotiable instrument are more commonly used in international finance, while wissel remains a traditional Dutch term tied to historical trade practices.