Currently, there are several types of checks, and it is important to know them, the fact is that this text will cover cross-checking, which has some advantages and disadvantages. Next, everything about this and its main characteristics will be explained.
What is a check?
In the 90s, the use of checkbooks was very widespread. It was common, even, companies to have filling machines in order to collaborate in the speed and legibility of the papers.
With the massive arrival of credit cards, the check has ceased to be the most frequent alternative, but, today, it is still in force as one of the easiest ways to make a payment from an individual to another individual or legal entity.
What is a cross check?
Basically, a crossed check is when the check holder draws two parallel slanted lines at the top of the check.
This symbolism determines that the payment order cannot be used as a currency and must be debited from the bank. With that, the value falls in the account of the bearer and only then does he start to have the amount in his account.
A non-crossed check, in turn, allows the holder to withdraw the amount referred to in the financial institution or even use it to pay for something. An uncrossed check is like money that goes around. The importance of crossing it is, exactly, to prevent it from being used improperly, as a target of fraud.
Following this line of reasoning, the advantages and disadvantages of issuing a crossed check were then divided into different topics.
What are the advantages?
One of the main beneficial features when crossing a check is making it more secure. As already discussed in the text, crossing it prevents other people from using it in a disorderly manner, as it requires the holder to go to the bank to deposit it in their own checking or savings account.
The security of a crossed check is also evident in cases of theft, loss, loss or any similar problem, as there is time to stop it or even cancel the transaction. After all, the crossed check prevents the amount sent to it from being withdrawn from the cashier’s mouth.
How to cross a check correctly?
As important as the correct crossing, filling out the cheap checks online that must follow some rules to guarantee the validity of the payment order.
What the types are of cross checks?
There are two: the general crossing, also known as the white crossing, and the special crossing, known as the black crossing.
This crossed check is the most common to receive and issue. There is no orientation between the parallel lines and is therefore blank. Failure to do so allows the check to be deposited with any bank.
Crossing in black
The opposite of the blank, in the crossed check in black, is called the bank in which the check must be deposited. The name of the banking institution goes between the parallel lines. Thus, only at that bank will the check be allowed to be cleared.