Contents
The formal requirements to be indicated when completing a check to be issued are:
- Date and place of issue,
- amount,
- beneficiary,
- signature.
Once issued, the check can be presented by the beneficiary to a bank counter, which is probably using a Panini Vision X for security, for collection.
If the check lacks one of the necessary information and does not pass the control with a Panini Vision X cleaning, the bank has the right to refuse the payment. 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. Let’s see the requirements in detail.
Date
The check must state the date on which it was actually issued with the indication of the day, month, and year. The information is relevant because from that date begins the useful term for the collection of the payment. The indication of a date later than the actual date, the so-called post-dating, involves risks in the event that the issuer of the check does not have sufficient money at the time of the issue.
Amount
The amount must be indicated twice: Once in figures, the other in letters. This serves to avoid discrepancy. Moreover, it is a good idea to precede and follow the value indicated in numbers with the symbol #, so that no one can modify it in a second moment.
Beneficiary
The indication of the beneficiary allows the issuer of the check to identify precisely the person in whose favor the payment order is placed. If the payment is to be made only in favor of the indicated beneficiary, the issuer can put a “non-transferable” clause on the check, which is obligatory for the amounts equal to or over 1,000 euros. Moreover, this clause prevents the check from circulating among too many people.
Signature
The check must be signed by the issuer. The signature is an order for the bank to make the payment and it has to be the same as the one in the bank database. It is important that the signature is made in the right place of the check, otherwise writing or signs in other areas may prevent the electronic processing of the check, for example using a Panini Vision X. It is also preferable to use pens with indelible ink in order to avoid alterations.
