Checkbook Meaning: Definition, Examples, and Translations
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checkbook
[ˈtʃɛkbʊk ]
Definition
banking tool
A checkbook is a book containing pre-printed checks that can be used to make payments from a bank account. Each check has space to fill in the amount, date, payee, and the signature of the account holder. Checkbooks are commonly used for personal and business transactions, allowing individuals to manage their finances securely. They also often include a register for tracking expenses and ensuring that funds are available. With the rise of digital banking, the use of checkbooks has declined, but they remain a traditional method for writing checks.
Synonyms
checks, chequebook, payment book.
Examples of usage
- I wrote a check from my checkbook to pay for the groceries.
- Always balance your checkbook to avoid overdraft fees.
- She ordered a new checkbook because she ran out of checks.
- He prefers using his checkbook instead of credit cards.
Translations
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Interesting Facts
History
- The first checks were handwritten and used centuries ago in ancient cultures, long before modern banking existed.
- Checkbooks gained wide popularity in the United States during the 20th century, particularly after the Great Depression as people sought safer ways to manage money.
Finance
- Checkbooks provide a way to track spending over time, which can help with budgeting and financial planning.
- Some people prefer checkbooks because they feel it gives them more control over their money compared to electronic banking.
Cultural Impact
- Checkbooks played an important role in shaping the business and personal finance landscape, becoming a staple in homes and offices.
- In movies and literature, checkbooks often symbolize wealth, responsibility, and the character's relationship with money.
Technology
- In recent years, digital banking has started to overshadow checkbooks, with apps allowing quick payments and tracking without paper.
- The use of checks has declined significantly as more people turn to online payments and credit/debit cards.
Origin of 'checkbook'
Main points about word origin
- The word 'check' comes from the Old French 'eschequier', which means 'to check or examine', signifying a way to verify payments.
- In the 19th century, checkbooks started to become more common as banking systems evolved and people sought more convenient payment methods.
The term 'checkbook' originates from the combination of 'check' and 'book', where 'check' refers to a written order directing a bank to pay money from the writer's account. The word 'check' comes from the Old French 'eschec', meaning 'check (as in chess)', reflecting the idea of control or verification in financial transactions. The concept of checks dates back to the 17th century when they were first used to facilitate payments without needing physical transfer of money. With the evolution of banking in the 19th century, checkbooks became widespread as they provided a more convenient and safer method for conducting financial transactions. Over time, the use of checkbooks has evolved, with electronic banking and mobile payments changing how individuals manage their finances, yet the checkbook remains a significant relic of traditional banking practices.