Although they are falling into oblivion, checks are still an excellent option for those who want more security when making or receiving payments. Within this form of payment there are subtypes of check, one of which is the crossed check, one of the safest forms of check. Know more about him!
What this article covers:
What is a Crossed Check?
A crossed check is a type of written payment order that does not allow the bearer to withdraw money from an ATM, so the amount can only be credited from a bank deposit into the account of the person trying to receive the amount.
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What characterizes the crossed check?
The crossed check is characterized by the two parallel risks in the center of it, and also by the fact that the crossed ones need to be completely filled out so that there is no risk of information being altered. In addition, it is a safer type of check precisely because it does not allow the check to be credited at the mouth of a teller. The only disadvantages in this method are the slowness in receiving and the need to have an account open.
Examples of crossed check
There are different types of crossed checks, such as nominal (where money can be received only to the person described on the paper), white (where it is not specified to which bank it should be deposited), and black (where it is specified between the parallel lines to which bank it should be deposited).
What is the difference between overdraft and crossed check?
While the overdraft it is a kind of loan given by the bank when you no longer have an account balance, the crossed one works in a similar way to a normal one, with the difference that it cannot be withdrawn at an ATM or at the mouth of the same.
The crossed check is an excellent alternative for those who like to use the method, but want more security. It more efficiently prevents the check writer from being scammed or having other complications.
