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Earliest use of bank checks Ancient Romans are thought to have been the first to use a form of bank checks, though the system was not nearly as complicated or regulated as it is today. Records indicate that they used what were known as praescriptiones as early as 100 BC. Nearly four hundred years later, bankers in the Persian Empire utilized a similar system of credit. In The Medieval Period Another variation of the modern day bank check system developed in Europe around the middle ages. During that time, the banking center known as the Knights Templar used a check system to hold money for people who took trips across Europe. These people would deposit their money at one station, and then claim it from another by proof of a claim draft. This was one of the earliest uses of a paper check system for claiming funds. It is thought that the Knights picked up this idea from Muslims, who had been using it for a few hundred years prior. Bill of exchange Today's check system is derived from the "bill of exchange" which was developed in earlier times by the bankers of that period. This system allowed bankers to receive bill payments by making use of bank mandated orders. People were then able to buy and sell goods without handling gold or other currency, making trade much easier and safer for the merchants. Bank checks in the United States Bank checks made their way to the United States by the Europeans during the Colonial period. Since the Europeans had already been dependent on the system since the early 1700s, it didn't take long for the Americans to adopt the system. Of course, the bank systems continue to evolve, especially in the past century, thus more control and security exists in present time. Bank checks pose as a form of protection to the consumer. Article Source: http://www.articlewheel.com
William A. Gordon shares his extensive knowledge of the checking industry on his site www.PersonalChecksPro.com which is a consumer resource site that compares the offerings of many online artistic designer check printing companies.
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