Teachers and other educators can use free blank check templates to generate checks for instructing students on the roles of finance professionals, such as bankers and cashiers, according to Scholastic. They can also utilize the checks to familiarize learners with the document and to train them on the basics of balancing credits and debits. Organizations can use these templates to generate checks for making deposits and other financial transactions, states FreeChurchForms.
A check contains information that includes the issuer's signature, the date of issue, the name of the entity receiving payment, and the payment amount in both words and figures, explains Bankrate. Other information includes the check number, a checking account number and a routing number.
Merchants who accept checks aggregate their value at the end of the day and then deposit the instruments at local banks, notes Bankrate. These banks use a sequence of symbols and numbers to encode the amount on each check to the bottom edge of the document. The resulting string of code, which is known as the magnetic ink character readable, or MICR, line, is machine readable. Using machines that generate images of both sides of the document, banks then create electronic files that contain the MICR data.
The banks transmit the to the regional or national clearinghouses that process and forward it to recipient banks, who match the data to their customer databases and issue payments for checking accounts with adequate funds, adds Bankrate. If checking accounts have insufficient funds, or in situations where issuers place stop payment orders, recipient banks flag and return the data file to the originating banks, who then create copies of the original checks for merchants so that they can pursue issuers for payment.