telecheck

telecheck

English

Etymology

tele- +‎ check

Noun

telecheck (plural telechecks)

1. 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.
   • 2003, Daniel V. Davidson, Brenda E. Knowles, Lynn M. Forsythe, Business law: principles and cases in the legal environment (page 498)

     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 […]

   • 2008, Carolyn L. Carter, Jonathan A. Sheldon, Unfair and deceptive acts and practices (page 357)

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

Synonyms

• demand draft