A Cashiers Check Drawee Bank of America 8006244785

A Cashier’s Check Drawee Bank of America 8006244785 VOID AFTER SIX MONTHS MATCH THE AMOUNT IN WORDS WITH THE AMOUNT IN NUMBERS BANK OF AMERICA 100. 00 Pay to the ***SHANNON RICHMOND*** Order of Payee CASHIER’S CHECK ISSUED IN US DOLLARS PURCHASER: SHANNON RICHARD Authorized Signature VOID OVER $100. 00 ||8006244785|| |121000358| 13973 84013|| Chapter 21 Richard M. Rosenberg Two signatures required. Drawer Bank of America NT&SA Drawer

A Certified Check THE FIRST NATIONAL BANK OF MYTOW 332 MINNESOTA STREET MYTOWN, MINNESOTA 55555 Drawer ||94’’’ 77577|| 0885 Chapter 21 Drawer AUTHORIZED John Doe Five thousand & no/100 Pay to the Order of No. 0008 CERTIFIED Payee June 8 20 01 Jack Jones STEPHANIE ROE 10 PARK AVE. ST. PAUL, MN 55123 THE FIRST NATIONAL BANK OF MY TOWN Drawee Certification Acceptor 2206 $5, 000. 00 Dollars Stephanie Roe

A Poorly Filled-Out Check XYZ CORPORATION 10 Industrial Park ST. PAUL, MN 55123 Pay to the Order of June 8 20 01 John Doe One Hundred and no/100 THE FIRST NATIONAL BANK OF MYTOW 332 MINNESOTA STREET MYTOWN, MINNESOTA 55555 ||94’’’ 77577|| 0885 Chapter 21 2206 $100. 00 Dollars Stephanie Roe

The Collection Process DRAWER Buyer issues check drawn on New York Bank to seller (payee) located in California. PAYEE Seller deposits check in San Francisco Bank (depositary and collecting bank). DEPOSITARY AND COLLECTING BANK San Francisco Bank sends check for collection to Denver Bank (intermediary and collecting bank). Chapter 21 DRAWER AND PAYOR BANK New York Bank • Debits buyer’s (drawer’s) account for amount of the check • Sends canceled check (or copy) to buyer (drawer). INTERMEDIARY AND COLLECTING BANK Denver Bank sends check for collection to New York Bank (drawee and payor bank).

How a Check is Cleared CHECK CITY BANK San Francisco FEDERAL RESERVE BANK Philadelphia Checking Account Jeanne Sutton +$20. 00 Reserve Account City Bank +$20. 00 Reserve Account First National Bank of PA -$20. 00 FIRST NATIONAL BANK Philadelphia Chapter 21 Checking Account Pamela Moy -$20. 00

Checks and the Banking System Chapter 21

Checks and the Banking System (Continued) Chapter 21

Checks and the Banking System (Continued) Chapter 21