How does a bank check work?
A functioning similar to a conventional check
A bank check is different from a conventional bank check, because it is obtained by a buyer from a financial institution. Its particularity is that the amount mentioned on the check is debited on the account of the issuing bank and not on that of his client. To cover itself, the bank previously removes the necessary provision of the user’s deposit account.
Bank check price
The issue of a bank check is considered a banking service and, as such, Invoice according to establishments Between 10 and 20 euros per check. The prices of online banks are lower, certain brands (Hello Bank!, Boursorama Banque, Monabanq, etc.) not invoicing this service.
What are the advantages of the bank check?
An interesting option for large sums
The use of the bank check is recommended For important amountsfor example when it comes to collecting the product resulting from the sale of a used vehicle or on the works of art market. But its use is banished for real estate purchases, since any payment made with a notary greater than 3,000 euros must be made by transfer.
For financially fragile people
The bank check is also used by individuals in Situation of financial fragility and not having a checkbook. The bank check is gradually replaced by the transfer, which makes it possible to obtain a higher level of security and better banking traceability, especially for sales between individuals.
What banking establishments offer bank checks?
Online banks (Boursobank, Hello Bank!, Fortuneo…)
Several online banks allow their customers to order a bank check, often free or at reduced costs. This is the case of Boursobank (ex-Boursorama Banque), Hello Bank! and Monabanq. Fortuneo also offers the bank check for free if the request is made online; Otherwise, costs apply (around five euros).
Traditional banks (Crédit Mutuel, Société Générale, Crédit Agricole, etc.)
In most traditional banks (Crédit Mutuel, Société Générale, Crédit Agricole, BNP Paribas, AXA Banque, etc.), the issue of a bank check is paid. The price of a bank check varies between ten and 20 euros. This cost is explained by the reinforced controls carried out to guarantee the provision and authenticity of the document.
Is there a maximum ceiling for bank checks?
In French law, there is no No maximum legal ceiling for the amount of a bank check. In theory, funds must be available on the account (or made in cash/transfer before the issue). Even if the law does not impose a ceiling, each establishment can however have its own internal policies:
- Some banks may request hierarchical validation for very high amounts (for example> 100,000 euros).
- Anti-flaude or anti-fraud checks can delay the program.
What is the minimum amount for a bank check?
There is No minimum amount For a bank check, but some establishments can have their own policies. However, traders can refuse to accept checks for small amounts (a few euros or a few cents) due to the associated processing costs which can then be greater than the amount of the check.
From what amount does the bank check the checks?
A variable amount according to the banks
As with other means of payment, there is no specific and generalized amount From which the banks check the checks. The control procedures depend on the internal policies of each establishment and can vary depending on the profile of the customer and their banking history.
A systematic verification for the high amounts
For high amounts of amounts, often from 1 500 eurosbanks can perform checks to ensure the authenticity of the check and the existence of a sufficient provision on the issuing account. This may include signature checks, available funds and other safety measures.
Additional possible deadlines
These controls can extend the availability period of funds, especially if the check comes from another bank or if the amount is particularly high. In practice, validation can takeone to ten working daysdepending on the complexity of the checks. During this period, funds may appear at the credit of the account, but remain unavailable.
What are the mandatory information on a French bank check?
A bank check must include certain mentions to be valid. Any check that does not include this information can be considered as incomplete or invalid According to the Monetary and Financial Code (articles L131-2 and following). E, in addition, alterations, such as tasks, erasures, traces of scratch, etc., can cause rejection by the bank.
The name of the transmitter (the shooter)
The shooter is the natural or legal person who emits the check. On a bank check, this is the client name At the origin of the request, accompanied by the mention or the corporate name of the issuing establishment. This information is often at the top left of the check, printed indelible by the bank.
For Companiesthe full legal name must be indicated, possibly accompanied by the acronym or the trade name, but it must remain in accordance with the data recorded with the bank.
The mention “Around”
This mention designates the person or the entity which will receive payment. It is essential because it indicates by whom the check must be cashed. On a bank check, this line is filled by the transmitter (the customer) or directly by the bank during the request, in order to avoid any falsification.
The amount in figures and letters
The amount must be indicated in figures in the space provided for this purpose (generally framed to the right of the check) and in all letters On the dedicated line. This double indication aims to reduce the risk of fraud or error. In the event of a difference between the two amounts, the law provides that it is writing in letters that is proof.
The date and place of issue
The date corresponds to the day the check is established. It must be complete (day, month, year) and correspond to reality, because antidater or postdate a check is illegal in France. The legal validity of a check in France isA year and eight days From this date (presentation period). After this period, the check can be refused by the bank.
The signature of the transmitter
The signature is the element which legally commits the issuer to honor payment. She owes correspond exactly to that recorded with the bank. On a bank check, the signature is often that of a authorized representative of the banking establishment, which strengthens the security and the guarantee value of the document.
What precautions to take with a bank check?
Look at the background on the back of the check
A bank check has a watermark. Identical for all brandsthis watermark, visible to the naked eye by transparency, is readable on the back of the check. It indicates “bank check” in capital letters. This mention is framed by two semeuses, whose clear and dark parts are reversed from one figure to another.
Check the transmitter or the bank transmitting bank
To ensure the validity of the title, it is advisable to Contact the issuing bank Without relying on the phone number present on the check (it can be false). If there was falsification, the guarantees attached to the bank check fall. Also, it is preferable to postpone the day of the sale if it is scheduled for a holiday or a weekend.
Wait for effective collection before delivering the property
Even if a bank check appears credited to the account, it is better to wait until the bank confirms that the funds are Definitely available. Some checks may take several days. In the event of a falsified check, stolen or issued from a closed account, the amount can be removed from the account, even several days after the deposit.
How long is the validity of a check?
The bank check has a validity duration of a year and eight daysfrom its date of issue. During this period, the seller can collect him to the banking agency of his choice. This period elapsed, the bank having taken the amount from the buyer’s account recredited it if the check was not fired.
How to fill out a bank check?
Filling a bank check is very fast ::
- Write the amount of the check in figures in the space provided for this purpose next to the mention “euros”.
- Write the corresponding sum of the check in full on the line provided for this purpose.
- Indicate the date on which the check is issued and the place. Make sure the date is current and valid.
- Indicate the name of the beneficiary of the check on the line “in order” to the front of the check.
- Sign the check in the space reserved for the signature.
- Avoid erasures and corrections that could make the check suspicious.
How to get a bank check quickly?
Request a bank check
To obtain a bank check, you must first ensure that the account is sufficiently supplied (available balance or prior deposit). The request is then made at the agency (at the counter or with an advisor), but some banks allow a online order Via the customer area, with withdrawal to the agency or secure postal shipment.
Recovery time for a bank check
In most banks, the program is immediate when the request is made in agency and the funds are available. For even faster treatment, it is advisable to prevent the bank in advanceespecially for high amounts, so that it prepares the document. The account of the account is immediate on the emission of the check.
Cancel a bank check
Cancellation is possible that if this one has not yet been delivered or conceded. The procedure varies, but it involves returning the check to the bank (it must be intact) or, if it has been lost or stolen, to sign a declaration on honor and, in the event of theft, to provide a complaint receipt. The bank then proceeds to maintenance of the funds blocked on the account.
How long does it take to get a bank check?
If the account is supplied and the beneficiary is known, the program can be almost immediate : The check is often ready in a few minutes at an hour. For very high amounts or for a customer whose account is recent, the bank can request up to 24 or 48 hours to carry out checks. Please note, during holidays and weekends, the show is suspended.
How to collect or deposit a bank check?
Procedure for submitting a bank check
To collect a bank check, the process is the same as for a classic check. You have to put it on by signing on the backthen place it on your account. The deposit can be made at the counter of your agency or via a check -up terminal. It is important to fill the discount slip.
Bank check: collection times
The operation was credited quickly, the next day worked. However, the credit is made subject to collection, which means that the bank may wait for confirmation of authenticity and provision. This verification is oftenone to three working days (can go up to ten days for foreign banks).
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