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What are the 5 checkpoints of negotiability for a check ?

Are they • The words ‘pay to order of should be present’ • Items older than6 months old cannot be negotiated • The (magnetic ink character recognition line) MICR line should be clearly visible • Name of the financial institution on which the check is drawn should be clearly written/ printed on the check. • Endorsement – The payee must endorse sign at the back of the check

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Question ajoutée par Subhranshu Ganguly , Quality Analyst. , WIPRO
Date de publication: 2014/01/29
mohammad yousuf
par mohammad yousuf , Senior Executive operations-Regional Processing Centre , Tata AIA Life Insurance Company Ltd

Date

Payee's Name

Any Alterations

is there any difference between words and figures of the amount of check

Signature of the drawer

Account number and balance check

marietta ocampo
par marietta ocampo , Financial Advisor , Sunlife of Canada (Phils), Inc.

1. Date of the check not more than 6 months

2.. Payee of the check

3. Amount in words and figure should tally

4. Signature of the drawer

5. Micr line should be clear

quddus atiq ATIQ
par quddus atiq ATIQ , ASSISTANT VICE PRECEDENT , ZARAI TARAQIATI BANK LTD.

 The words ‘pay to order of should be present’ • Items older than6 months old cannot be negotiated • The (magnetic ink character recognition line) MICR line should be clearly visible • Name of the financial institution on which the check is drawn should be clearly written/ printed on the check. • Endorsement – The payee must endorse sign at the back of the check

Editha Domingo
par Editha Domingo , Administrative Assistant , Seaman Colombus Tours LLC

Valid Date, MICR, Signature, Name of Payee, Amount in figures and Amount in Words Tally. 

Shafiq Ur Rahman Mohammed
par Shafiq Ur Rahman Mohammed , SENIOR ACCOUNTANT , Dubai Holding Group

DATE,SIGNATURE, NAME SHOULD BE CLEAR, ACCOUNT PAYEE CROSS CHECK, CODE MICR SHOULD BE CLEAR

Mohammed Salim Allana
par Mohammed Salim Allana , Compliance and Assurance Manager , United Arab Bank

The standard5 check point of negotiability are as follows:

1. Date,

2. Words/terms of negotiability such as Pay to the order of,

3. Name of the payee

4. Specific Amount and,

5. Signature

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