The cheque system has not changed over time: your customer issues a written order (a cheque) instructing his bank to pay you a certain amount. The bank is only obliged to pay the sum if there are sufficient funds in the account. And that is where the risk lies with this form of payment.
Cheques have virtually disappeared in the last few years. But we still offer you various practical ways to make your payments.
- Bank cheques: unguaranteed instruments.
- Commercial cheque: if you issue a large number of cheques. Unguaranteed.
- Business cheque abroad: with a carbon copy, to comply with the foreign exchange regulations. Unguaranteed.
- Correspondent cheque: drawn on a foreign correspondent bank. Unguaranteed.
- Personalised cheque: with the customer's personalised watermark.
- Blank cheque: only paid if you have signed a contract in advance.
- Counter cheque with receipt: to withdraw money from your own account at another bank branch. However, your bank card is a safer and faster alternative.
- Pension cheque: only valid in Belgium.
- SWIFT cheque: cheque made out to a foreign beneficiary.
- Circular cheque: non-transferable bank cheque up to EUR 2,500. It must be cashed within 100 days.
(Limited) Guaranteed cheques
- Certified cheque: guarantees that the account has been credited with the specified sum on the date the cheque was issued.
- Blocked-funds certified cheque: the drawer is guaranteed that the amount of the cheque will continue to be available in the account until the expiry date.
- Avalised draft: a third party guarantees the payment of the cheque.
- Crossed cheque: by drawing two diagonal lines on your cheque, you protect it from theft. The cheque can then only be cashed at your bank and paid into your own account.