CHEQUEBOOK Meaning and
Definition
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A chequebook is a personal or business financial instrument that contains a set of cheques used for making payments or withdrawing money from a bank account. It is typically a small booklet with detachable leaves, each serving as a negotiable instrument representing a specific monetary value. Chequebooks are issued by banks to their account holders, who can write cheques to pay bills, make purchases, or transfer funds to other individuals or organizations.
The chequebook generally consists of pre-printed cheques with essential details such as the account holder's name, bank account number, bank branch, and the issuing institution's logo. To use a cheque, the account holder simply fills in the recipient's name, the date, and the amount to be paid in both words and numbers. Additionally, a signature is required to authenticate the cheque and prevent unauthorized usage. The account holder retains a carbon copy or a duplicate of each cheque written, which helps in keeping track of the transactions.
Chequebooks offer a convenient and widely accepted alternative to cash payments, providing a record of the transactions made. They serve as a means of safe and secure financial exchange, where the bank acts as an intermediary between the account holder and the recipient of the payment. While cheque usage has declined with the popularity of digital payment methods, chequebooks are still used in various countries and play a vital role in certain financial transactions.
Common Misspellings for CHEQUEBOOK
- xhequebook
- vhequebook
- fhequebook
- dhequebook
- cgequebook
- cbequebook
- cnequebook
- cjequebook
- cuequebook
- cyequebook
- chwquebook
- chsquebook
- chdquebook
- chrquebook
Etymology of CHEQUEBOOK
The word "chequebook" originates from the combination of "cheque" and "book".
The term "cheque" itself has its origins in the Middle English word "cheke", which referred to a written order to pay money. This Middle English term came from the Old French word "eschequier", meaning a chessboard or a checkered pattern, deriving from the verb "eschec" meaning "to check" or "to foil". This verb was used in the game of chess, where a player would say "eschec" to indicate that the opponent's king was threatened.
The term "book" simply refers to a collection of pages bound together, often used to record or store information.
Therefore, "chequebook" refers to a book or booklet that contains individual pages of cheques, which can be used to make payments or withdraw money from a bank account.
Similar spelling word for CHEQUEBOOK
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