Chequebook Meaning: Definition, Examples, and Translations
๐
chequebook
[หtสษkหbสk ]
Definition
finance tool
A chequebook is a book containing a series of blank checks that a person can use to make payments from their bank account. Each check typically has a designated space for the date, recipient's name, amount of money, and signature of the account holder. Chequebooks are used as a traditional method of payment, allowing individuals to pay bills or make purchases without using cash or credit cards. Although electronic banking is becoming more prevalent, chequebooks are still used by some individuals and businesses for convenience and record-keeping purposes.
Synonyms
Examples of usage
- I need to order a new chequebook from my bank.
- He wrote a check from his chequebook to pay for the repairs.
- Using a chequebook, she managed to keep meticulous records of her expenses.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Cultural Significance
- In many cultures, the chequebook represents trust in financial transactions, wherein both parties rely on the written agreement.
- In the United States, it's common to have a chequebook for personal finances, providing a physical method of tracking spending.
Finance & Economics
- Cheques are considered a safer method for payments than carrying large amounts of cash, as they can be easily canceled if lost or stolen.
- Technological advancements have led to digital versions of chequebooks called 'online banking systems', allowing users to manage finances on their devices without paper.
Psychology
- Using a chequebook can influence spending habits, as writing a check makes one more mindful of their financial choices compared to using credit cards.
- Having a physical chequebook often helps people budget and organize their finances better, promoting responsible spending.
Literature
- Chequebooks often appear in literature as symbols of economic status and personal responsibility, reflecting characters' relationships with money.
- Authors have used chequebooks in plot devices to explore themes of trust, obligation, and financial struggle among characters.
Origin of 'chequebook'
Main points about word origin
- The word 'cheque' comes from the French 'escheque', which means 'to check' or 'to inspect', referring to the act of checking finances.
- The term 'chequebook' started to appear in English around the 1770s, indicating the increasing use of checks over cash.
The term 'chequebook' combines two words: 'cheque' and 'book'. The word 'cheque' has its origins in the early 16th century and is derived from the French word 'รฉchec', meaning a check or a stop that refers to a reference or verification process. Initially, the term was used in banking where it referred to a written order directing a bank to pay a specified sum of money from one person's account to another. In the 19th century, with the rise of modern banking, the use of cheques became more widespread, necessitating the creation of chequebooks, which grouped multiple cheques together for ease of use. The chequebook thus became a standard financial tool for individuals and businesses alike, symbolizing a shift in how financial transactions were conducted.