A few weeks ago I received a check in the mail, which normally doesn’t happen, but I had to cash it. I went to a bank down the street to have them cash it for me. I knew they were going to take a percentage of the check for the simple task of turning it into money, but whatever. That’s the price…
Checking Account
A Checking account is one of two most common forms of bank accounts available to consumers in Canada. The majority of people will use the checking account as their common account and compose most of their transactions from that account.
As the account is identified as a Checking account, this is to mean by original definition that a person or a small business will write paper notes printed by the bank in order to pay for items using this account. These cheques act essentially as legal tender requiring the recipient to deposit the cheque into their bank accounts to obtain the money amount written on the cheque.
