What is a mailed check
A mailed check is a type of payment instrument that is sent through the postal service to a recipient. It is a physical check that is written by the payer (the person or organization making the payment) and mailed to the payee (the person or organization receiving the payment).
A mailed check typically consists of:
- A check number: A unique number assigned to the check by the bank.
- The name of the payee: The name of the person or organization receiving the payment.
- The date: The date the check is written.
- The amount: The amount of the payment.
- The signature: The signature of the payer.
- The bank's information: The name and address of the bank that issued the check.
When a check is mailed, the payer typically includes a letter or envelope with the check, which may contain additional information such as:
- A payment memo: A brief description of the payment, such as "Payment for services rendered."
- A payment stub: A small piece of paper that can be detached and returned to the payer as proof of payment.
- A return envelope: An envelope addressed to the payer, which can be used to return the payment stub or other documents.
Mailed checks are a common way for individuals and businesses to make payments, especially for larger or more complex transactions. However, with the increasing popularity of electronic payment methods, such as online banking and mobile payments, the use of mailed checks has declined in recent years.