Open a settlement account. Regardless of whether you are an enterprise, institution or individual, you must hold valid certification documents to a banking institution that handles check deposits to open a deposit account that can use checks, and deposit sufficient funds to issue checks.

Application

1. To open a checking deposit account, the applicant must use his or her real name and submit legal documents proving his identity;

2. Open For a check deposit account, the applicant should reserve his/her signature and seal;

3. To open a check deposit account and receive checks, the applicant should have reliable credit and deposit a certain amount of funds.

Usage

1. Transfer checks can be endorsed and transferred; cash checks cannot be endorsed and transferred.

2. The payment period for check presentation is ten days (from the day the check is issued, the expiration date will be postponed in case of holidays).

3. The date of issuance of the check, the amount in upper and lower case, and the name of the payee cannot be changed. If other contents are incorrect, they can be corrected by underlining them and stamped with one of the reserved bank seals to prove it.

4. If a check is lost, you can apply to the paying bank to report the loss and stop payment; if the check has been paid before reporting the loss, the bank will not accept it.

5. If the drawer issues a bad check or a check whose seal does not match the seal reserved by the bank, the bank will not only refund the check, but also impose a penalty of 5% of the face value but not less than 1,000 yuan. fine. The holder has the right to demand compensation from the drawer of 2% of the check amount.

Extended information:

According to the "Negotiable Instruments Law of the People's Republic of China":

Article 81 A check is issued by the drawer. A bank or other financial institution entrusted with the check deposit business unconditionally pays a determined amount to the payee or holder when the check is presented.

Article 82 To open a checking deposit account, the applicant must use his or her real name and submit legal documents proving his or her identity.

To open a checking deposit account and receive checks, you must have reliable credit and deposit a certain amount of funds.

When opening a checking deposit account, the applicant should reserve his/her name's signature and seal.

Article 83 Checks can be drawn in cash or transferred. When used for transfer, it should be marked on the front of the check.

If the check is specifically used to withdraw cash, you can make a separate cash check, which can only be used to withdraw cash.

If a check is specifically used for transfer, you can make a separate transfer check. Transfer checks can only be used for transfers and cannot be withdrawn in cash.

Article 84 A check must contain the following matters:

(1) The word "check";

(2) An entrustment of unconditional payment;

(3) Determined amount;

(4) Name of payer;

(5) Date of invoice issuance;

( 6) The signature and seal of the drawer.

If one of the items specified in the preceding paragraph is not recorded on the check, the check will be invalid.

Article 85 The amount on the check can be re-recorded with the authorization of the drawer. Checks that have not been re-recorded shall not be used.

Article 86 If the name of the payee is not recorded on the check, it may be re-recorded with the authorization of the drawer.

If the place of payment is not recorded on the check, the payer's business location shall be the place of payment.

If the place of issue is not recorded on the check, the drawer’s business place, domicile or habitual residence shall be the place of issue.

The drawer can record himself as the payee on the check.

Article 87 The amount of the check issued by the drawer of the check shall not exceed the actual deposit amount with the payee at the time of payment.

If the amount of the check issued by the drawer exceeds the actual deposit amount with the payee at the time of payment, it is a bad check. Issuance of bad checks is prohibited.

Article 88 The drawer of a check shall not issue a check that is inconsistent with the signature style or seal of his or her original name.

Article 89 The drawer must bear the responsibility to ensure payment to the holder according to the amount of the check issued.

When the drawer's deposit with the payee is sufficient to cover the amount of the check, the payee shall pay in full on the same day.

Article 90 Checks must be payable on sight, and no additional date of payment shall be recorded. If the payment date is recorded separately, the record will be invalid.

Article 91 The holder of a check shall present it for payment within ten days from the date of issue; for checks used in other places, the time limit for presentation for payment shall be separately stipulated by the People's Bank of China.

If the time limit for presentation for payment exceeds the time limit, the payer may not pay; if the payee fails to pay, the drawer shall still bear the bill liability to the holder.

Article 92 If the payee pays the amount of the check in accordance with the law, he will no longer bear the entrusted payment responsibility to the drawer and will no longer bear the payment responsibility to the holder. However, this does not apply if the payer makes the payment in bad faith or has gross negligence.

Article 93: In addition to the provisions of this chapter, the provisions of Chapter 2 of this Law regarding bills of exchange shall apply to the endorsement of checks, payment behavior and exercise of recourse rights.

Except for the provisions of this chapter, the provisions on bills of exchange in Articles 24 and 26 of this Law shall apply to the issuance of checks.

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