CROSSED CHECK Meaning and
Definition
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Crossed check is a term primarily used in the banking industry to refer to a type of check that has been marked with two parallel lines diagonally across its face. These lines are drawn to indicate that the check can only be deposited into a bank account and cannot be immediately cashed over the counter. The purpose of crossing a check is to add an extra layer of security and prevent any unauthorized person from fraudulently encashing the check.
When a check is crossed, it implies that it can only be credited to the payee's bank account. The payee must deposit the check into their own bank account to access the funds. This restriction is beneficial in preventing theft or loss, as it ensures that only the intended recipient can access the money. In addition, a crossed check promotes accountability and record-keeping as the transaction is traceable through the banking system.
Crossing a check is a common practice when making payments to unfamiliar recipients or for higher-value transactions, as it reduces the risk of the check being misused or forged. Furthermore, banks may refuse to accept or negotiate a crossed check presented for cash payment, reinforcing the measure's security aspect.
Common Misspellings for CROSSED CHECK
- xrossed check
- vrossed check
- frossed check
- drossed check
- ceossed check
- cdossed check
- cfossed check
- ctossed check
- c5ossed check
- c4ossed check
- crissed check
- crkssed check
- crlssed check
- crpssed check
- cr0ssed check
- cr9ssed check
- croased check
- crozsed check
- croxsed check
- crodsed check
Etymology of CROSSED CHECK
The word "crossed check" has its origins in the practice of crossing a check with two parallel lines on its face. This crossed pattern signifies that the check can only be deposited directly into the bank account of the payee and cannot be cashed over the counter. The etymology of this term is relatively straightforward and directly linked to the physical crossing of the check itself.
