Discount Business Checks

Writen by Josh Riverside

The first checks, known as sakks, have been issued since the first century. It is from this word that the word cheque was derived, which later on evolved to check, signifying what banking institutions have been doing through time: ?checking? for fraudulence.

Checks are basically bills of exchange drawn upon a bank or a trust company. Checks are used by banks or other drawees to pay cash to the bearer or to a specified person. Checks made by the maker are usually funded by their deposit (checking account). The same is true with checks issued by businesses.

Companies and businesses usually come up with personalized business checks to create a better impression on their clients. Having personalized business checks evokes the feeling of being put together, organized, and powerful. It gives business transactions a more professional feel.

Banks, businesses and individuals do discount business checks. More often than not, "professional" discounters allot part of the check to be changed to serve their purpose. There are some who take advantage of this. There are also a lot of fraudulent discounted checks that have preyed on banks, establishments and individuals. To avoid this, proper care must be practiced by both the drawee and the bank, establishment or individual that agrees to discount business checks.

Checks must be carefully evaluated to ascertain that they are genuine checks issued by credible sources. Proper and sufficient information must also be noted, checked against valid identification of the drawee.

Money laundering is not very uncommon. A lot of opportunists try to make the most out of every given break. This is a point which must be considered by discounters and drawees alike. Security and reliability must always be considered by both parties at all times. Fraud that occurs with discounting business checks may well be avoided if proper care is taken.

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