A depositor's check certified by a bank, promising that the account holder has sufficient funds for the amount, ensuring that the recipient will receive the payment.
In accounting, an endorsement refers to the act of signing the back of a negotiable instrument, such as a check, to transfer ownership or authorize payment.
A payee is an individual or entity to whom a debt is payable or to whose order a bill, note, or check is made payable, thus playing a crucial role in financial transactions.
A Routing Transit Number (RTN) identifies financial institutions in the United States for the purpose of processing payments, such as checks and wire transfers. It is a critical component of effectively managing and routing financial transactions.
