Meaning of telecheck | Babel Free

Definitions

A check (financial instrument) that is not written out and signed by the drawer, but verbally authorized over the telephone and then printed and stamped by the payee.

Examples

“The court had to decide if a "telecheck" had been "signed" by the purported "drawer," and in doing so the court had to determine whether a "telecheck" is a negotiable instrument[…]”

“Although very different laws apply, telechecks and electronic transfers may appear virtually the same to a consumer reading a bank statement.”

CEFR level