Okuzeka
Finance & Banking vocabulary · Payments & Cards

Cheque

Meaning in finance & banking, with examples

/tʃek/nounCore term

In finance & banking, cheque means: A printed paper order that tells a bank to pay a stated amount from the writer's account to the person or company named on it.

In Turkish: çek

How it is used

Rare in everyday consumer banking in many countries, but still common in business payments in Türkiye, where post-dated cheques are widely used to give trade credit. You write or issue a cheque, and the receiver deposits or cashes it. A cheque that is not paid because of insufficient funds 'bounces'.

Example sentences

  1. Our supplier accepts post-dated cheques with a maturity of up to 90 days.

  2. It can take a few working days for a cheque to clear.

Common collocations

  • write a cheque
  • cash a cheque
  • post-dated cheque
  • cheque book
  • bounced cheque
  • bounceOf a cheque or payment: to be returned unpaid by the bank, usually because there is not enough money in the payer's account.
  • current accountAn everyday bank account for receiving a salary, paying bills and making card payments. It pays little or no interest, and the money can be used at any time.
  • bill of exchangeA written order from one party to another to pay a fixed amount to a named person, either on demand or on a set future date, used mainly in trade.
  • settlementThe final step of a payment or trade, when money or securities actually move from one party to the other and the deal is complete.

More terms: Payments & Cards

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This page explains English vocabulary for learners. It is not financial advice.