Order Bank Checks Direct From The Printer
You can order personal checks direct from a commercial printer and save themselves a bundle. Personal checks arose from an interesting development historically. Throughout history there has been a needfor the transfer of value. Safer and reliable methods of transfer start thousands of years ago.
Checks are negotiable instruments that work as an order to transfer money. It identifies the sender and the receiver and specifies the amount of money negotiated. The parties involved may be corporations, LLC’s or individual persons.
The history of the written check dates back to early Roman times. As early as 1 BC, checks have been used to solidify trades between parties. It eliminated the need to carry around large quantities of gold. Convenience, safety and efficient trade spurred the popularity for these negotiable instruments called checks.
In olden times carrying around piles of money proved dangerous as well as it would today in many parts of most countries. The alternative of safe and efficient checking offering redeemed payment guarantees proved to be a better way of doing business.
Various aspects of a check include: 1. place of issue 2. identification signature 3. payee 4. amount 5. date 6. check ID number and 7. routing number.
Routing / account numbers are in MICR format. It is a 9 digit number. The first 4 numbers identify the Federal Reserve Bank processing center.
Digits 5 through 8 indicate the bank served by the check. The 9th digit is a verification digit and all digits are assigned independently by the various banks for identification purposes.
Fractional routing number (U.S. only) - also known as the transit number, consists of a denominator mirroring the first 4 digits of the routing number. And a hyphenated numerator, also known as the ABA number, in which the first part is a city code (1-49), if the account is in one of 49 specific cities, or a state code (50-99) if it is not in one of those specific cities; the second part of the hyphenated numerator mirrors the 5th through 8th digits of the routing number with leading zeros removed.
Today, when you need to order personal checks, most purchase them from banking institutions as well as online. Online checks can be purchased direct from the check printer thereby saving about 50%. The reduced cost is the result of cutting out the bank middleman.
