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Term: Banking -> Electronic Check
Term:

Electronic Check

Definition:

Electronic version of a paper check, including date, payee name, payment amount, and signature. Electronic checks (e-checks), currently being tested by several large banks, are meant for paying bills, transferring funds, or any purpose where a paper check is used today. Checks bear a digital signature security code proving payment was authorized by the account holder.

Related terms:

Penetration

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