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A Brief History of Bank Checks

Through all of time, no matter how many times the bank system makes changes, the bank checks remain constant. Today, just as the Romans of the ancient empire, we depend on bank checks as promissory notes.

First Known 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 System

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 U.S.A.

In the U.S., bank checks were brought over during the Colonial period by European individuals. The system became prevalent and popular in Europe during the early 1700s, so it was natural that the colonists would pick up on the system. As banks have become more complicated in the last 100 years, more and more systems of control and security have been added to bank checks in order to protect the consumer.

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William Gordon compares check designer company offerings to provide independent buying recommendations and help consumers find the best online check purchase retailers. Click here to get your own unique version of this article with free reprint rights.

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