| When a bank issues a check on its own account to a | | | | respective attached documents to a check |
| customer, it is called a bank check. Such checks are | | | | beneficiaries home or business address. |
| issued for payment to a third party and are also | | | | Bank checks are perhaps the most economic way of |
| variously called as cashier's check or treasurer's | | | | international money transfer. It is especially |
| check. Such checks are generally treated by the law | | | | convenient when small amounts of money are |
| in the same manner as ordinary checks. Many people | | | | transferred because it is not necessary to make an |
| regard bank checks as equivalent to cash, which it is | | | | extra money transfer. Modern banks sell and collect |
| not. In certain instances a bank check might not be | | | | checks of other banks also, the value of which is |
| paid. A bank check can be used to purchase large | | | | denominated in convertible currencies. |
| items such as a car. | | | | Some advantages of bank checks include |
| Bank check payment is often considered an | | | | settlements with foreign partners. Bank checks make |
| alternative to bank wire transfer. It is ideal for | | | | it possible to make settlements for products and |
| commercial payments between companies. Such | | | | services with foreign partners, meaning subscription |
| checks also find extensive use for the payment of | | | | can be made for books or publications, lotteries, |
| different fees and services. Modern banks issue bank | | | | goods and education at schools abroad. Even cash |
| checks even without the customer having an account | | | | gifts can be sent through this way. A bank check is |
| with the respective bank. The check issue procedure | | | | also a very convenient way of settlement if there is |
| is very simple and takes only a small time to process. | | | | little information about beneficiary of the check. |
| Banks also send the issued bank check along with | | | | |