Over The Counter Check Meaning

It serves as a personal check but it is drafted to the client itself to extract money from his account.

Over the counter check meaning.

Counter check blanks are typically kept at a bank s teller counter in order to facilitate checking account holders in making withdrawals at the counter without. If you re planning to make a payment with one of these checks be aware that merchants don t always want to accept counter checks as payment even if the bank prints your personal information on the check counter checks usually don t have a check number which is a strong signal to merchants that the check is a counter check. How to use over the counter in a sentence. The definition of a counter check is a check available to a bank customer to add their account number to make a withdrawal from their account.

Over the counter definition is not traded or effected on an organized securities exchange. A special type of blank written form provided by a bank teller that a customer can fill out to order the bank to pay a given amount from the issuer s checking account. Over the counter otc trades refer to securities transacted via a dealer network as opposed to on a centralized exchange such as the new york stock exchange nyse.