Who invented check

Starting in the s, machine readable routing and account information was added to the bottom of cheques in MICR Magnetic Ink Character Recognition format. This allowed automated sorting and routing of cheques between banks and led to automated central clearing facilities. This meant that the payee no longer had to go to the issuing bank. Rather, they could deposit it at any banking location and the check would be routed back to the originating bank and funds transferred to their own bank account.

American businesses continue to pay an astonishing 50 percent of their bills by check, but analog is out, and digital is in. With the advent of secure check writing sites like Checkeeper. The history of the checking system is complex, and no one person or culture can be credited with inventing the check. Ancient Romans used banking systems, where written notes, called "attributio," could be drafted against a person's account.

Because commerce and bankers were not considered respectable, these banks were not organized or widespread. In the early 12th century, the Knight's Templar began one of the first widespread banking systems. The solution to this problem was found in the s, according to banking lore, at a British coffee shop. The story goes that a London bank messenger stopped for coffee and noticed another bank messenger.

They got to talking, realized that they each had checks drawn on the other's bank, and decided to exchange them and save each other the extra trip. The practice evolved into a system of check? Today banks in the U. Updated February 11, Infoplease Staff. See also:. We also use third-party cookies that help us analyze and understand how you use this website.

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