Though we think of Canadian cheques as a thoroughly modern convenience for sending and receiving payments between businesses and individuals, as a concept the cheque has a long cultural history with many precedents from the past.
As early as 321 BC, bankers in India were given adeshas, or requests to give a third party payment in a certain amount. The Roman empire circa first century BC utilized a kind of cheque they called praescriptiones. Today the importance of paying creditors and distributing funds in exchange for services rendered is as important as ever, though the technology, which includes the use of laser cheques, has certainly improved.
The use of this technology is as important as ever in order to prevent threats such as cheque fraud, which can affect accounts linked to personalized cheques and business cheques alike. This fraud typically involves the perpetrator taking the cheques, altering them, and then cashing them in for undeserved profit.
Among the earliest bank cheques still around today is attributed to the London based bankers and scriveners Messrs Morris and Clayton, from February 16, 1659. In modern business, laser cheques are used to distribute payroll funds, which include wages, salaries, deductions, and bonus for workers.
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