In daily life, we often come into contact with various bills related to money, such as bank checks, bank cashier's checks, and even passbooks that are closely related to everyone. So what is the difference between passbooks and bank checks?

The difference between passbooks and bank checks

(1) Different categories

There are many categories of checks - named checks, bearer checks, cash checks, crossed Checks, travellers' checks, certified checks, bank checks, among which bank checks are divided into cash checks and transfer checks due to different payment methods. The passbook is different. The passbook is just a book used to record bank transactions of deposit accounts. The size of the passbook will vary depending on the country and banking institution.

(2) The conditions for processing are different

The processing of checks not only requires opening a checking deposit account, the applicant must use his or her real name and submit legal documents proving his or her identity. You should have reliable credit and deposit a certain amount of funds. The passbook does not require a certain amount of funds to be deposited as credit, but only requires the individual to provide legal and identity-proof documents.

(3) The usage methods are different

Among checks, transfer checks can be endorsed and transferred, but cash checks cannot be endorsed and transferred; and transfer checks can only be used for transfers, and cannot be used to withdraw cash. Cash checks can be withdrawn in cash. When using a passbook, especially when handling it at the counter, you need to do it yourself, and the passbook cannot be transferred or used by unrelated people.

(4) The methods of depositing money are different

The check should be filled into the bill in triplicate. The deposit method of the passbook is handled on site. How much money is deposited or withdrawn can be clearly seen in the passbook.

(5) The amount available for withdrawal or payment is different

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. There are no restrictions on withdrawals or payments from passbooks. The withdrawer can withdraw or make payments at will, as long as the amount in the passbook allows.

What is a bank check?

Bank check, referred to as "check", is a certificate issued by the depositor to the bank requesting payment of a certain amount from the current deposit account. When you open a checking deposit account at a bank, the bank gives you a blank check book, and the depositor can use it to issue checks within the amount of his deposit. The bank pays the designated person or holder according to the amount endorsed on the note.