check, similar to a money order, purchased at a bank for a fee. Registered checks are used by persons who don't have checking accounts to transfer funds to another, or pay bills. The purchaser writes the payee's name, signs his or her name, and presents the check to a bank teller. The check is payable from funds on deposit, but not certified by the bank. Contrast with certified check
check issued by a bank for a customer who places funds aside in a special register. The customer writes in his name, the name of the payee, and the amount of money to be transferred. The registered check is similar to a money order for someone who does not have a checking account at the bank.
check issued by a bank for a customer who places funds aside in a special register. The customer writes in his name and the name of the payee and the amount of money to be transferred. The bank, which collects a fee for the service, then puts on the bank's name and the amount of the check and gives the check a special number. The check has two stubs, one for the customer and one for the bank. The registered check is similar to a money order for someone who does not have a checking account at the bank.
