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Definition: Cheque

ECB terminology

A written order from one party (the drawer) to another (the drawee, normally a bank) requiring the drawee to pay a specified sum on demand to the drawer or to a third party specified by the drawer. Cheques may be used for settling debts and withdrawing money from banks.
Source:
European Central Bank on-line glossary (2009)
Created:
2009-04-23
Updated:
2019-05-10

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