Canadian Cheque Information - How to Read a Canadian Cheque

If you're looking for Canadian cheque information, you've come to the right place. Here's a quick overview of some key differences between cheques issued by Canadian banks and those issued by foreign countries. If you're in the business of selling goods or services to Canadians, knowing how to read a Canadian cheque will help you avoid any unpleasant surprises when you receive a check. Then, you can make sure you're complying with bank guidelines by using PostGrid's direct mail automation platform.

When receiving a cheque, be sure to ask about alternatives. If the bank puts a hold on the cheque, it must notify you at least 30 days before the change takes effect. In addition, you should ask if there is an e-mail money transfer or direct deposit that will allow you to get your money immediately. If you do not want to wait for the bank to process your request, you can request that the money be deposited directly into your bank account.

Besides the name of the account holder, Canadian cheques also have details of the payee and the institution that issued the check. A check's payee will have a bank logo or other identifying marks, and the account number will have at least seven digits. You can also add your contact information on the cheque. The format for Canadian bank cheques allows you to write this information below the address. These are just a few of the details that should be provided on a cheque.