Business Checks Are the Best Option

As we are approaching the twenty-first century, the banking sector is making drastic revolution in providing easy solutions for payments-related issues to medium, small or large industries. Business checks are one of its provisions to industries for easily handling monetary matters. Basically, these are like bank checks with a difference that they can be printed by a company or an organization. Thereby, giving them a personal touch.

What are its advantages?
The main advantages of these are that they improve company’s image and reputation. They provide security, faster and easy money transfer to the customers. These checks can be used for payments of salary, almost all types of bills, etc..

What is the difference between Personal checks and Business Checks?
Personal checks are usually provided by the bank to the account holder in which the name of the payer is printed, and the payer has to write the name of the person or the account to whom he is paying money to and also has to put his signature. The payment is done from the account held by the individual. In case of business checks, the company name, its logo and the signature of the business owner or its representative are printed on it, and are usually drawn from the account belonging to the company.

What are its requirements?
Banks require specific documents in opening business checking accounts. The bank requires the business filing documents, social security number, tax identification number and authorizing account signer’s details and the details of the board of directors of the company. Apart from that, the organization should have a required amount of money deposited in its business checking account, which usually varies for different banks. Moreover, the format of the check has to be according to the regulating bank authority specification, and it should be informed to the bank to prevent forgery. For providing more security to its clients, the checking accounts have “dual signature” facility.

What are the types of Business checks?
The two different types are computerized checks and manually printed checks. Computerized checks have an edge over manually printed checks as they can be available in any type of format, the organization prefers. Other facts include easy processing and ordering and almost instant delivery, thereby saving a lot of time. Some certified business checks are guaranteed to be accepted by all banks or financial institutions.