Parts of a Check

What is labeled number 7 on a check?

• Routing number

• Account number

• Check number

• Payee name

What is the significance of the check number?

• It helps to identify and track the check in the bank's records.

• It determines the amount of money in the account.

• It is used to calculate interest rates on loans.

• It indicates the date the check was issued.

What is the term for the person or entity that writes a check?

• Payor

• Payee

• Drawer

• Beneficiary

What is the term for the person or entity receiving the payment on a check?

• Payer

• Payee

• Drawer

• Beneficiary

What is the importance of the amount in numbers on a check?

• It specifies the exact amount to be paid.

• It indicates the date of the transaction.

• It serves as a reference number for the bank.

• It shows the name of the payee.

Where can you find the account number on a check?

• At the top of the check

• In the signature area

• Usually located at the bottom of the check

• On the back of the check

What is labeled number 6 on a check?

• Date

• Payee

• Signature

• Amount

What is the purpose of the date on a check?

• To indicate when the check was written.

• To specify the amount of money on the check.

• To identify the bank where the check is drawn.

• To provide a reference number for the transaction.

What happens if the signature on a check does not match the bank's records?

• The check may be rejected or not processed.

• The check will be automatically approved.

• The check will be sent back to the issuer for correction.

• The check will be processed with a warning.

What is labeled number 1 on a check?

• Payor

• Payee

• Bank

• Amount