Cashier s checks and money orders also have the similarities and differences between checks

Bills are divided into: checks, promissory notes, and bills of exchange.

Commonality: They are all bills, issued by the drawer, agreeing that they or the entrusted payer will unconditionally pay a certain amount of money to the payee or bearer at the sight of the bill or on a specified date**.

Differences: Bank draft: It is a bill issued by the issuing bank and unconditionally paid according to the actual settlement amount at the time of sight.

The issuing bank is the payer of the bank draft. Units and individuals can use bank bills for all kinds of payment settlement in different places, the same city or the unified clearing area.

Commercial bills: The difference between commercial bills and bank drafts is that the commercial bills are accepted by the purchasing unit, cashed at a certain date in the future, and make a commitment to pay when due. In addition, commercial bills are also divided into interest-bearing commercial bills and non-interest-bearing commercial bills.

China generally uses non-interest-bearing commercial bills.

Promissory note: It is a written commitment issued by the drawer to the drawee to pay a certain amount of money unconditionally at sight or on a regular basis. A promissory note issued by an enterprise is generally called a "promissory note", and a cashier's check issued by a bank is called a "cashier's check".

A cashier's check is issued by a banking institution and can be used to transfer money, and those marked "cash" can be used to withdraw cash.

Cheque: A cheque is a bill issued by the drawer and entrusted by the bank to handle the cheque deposit business to unconditionally pay a certain amount to the payee or bearer at the sight of the cheque. Cheques are divided into cash cheques, transfer cheques and ordinary cheques, but generally only cash cheques and transfer cheques are used.

Cash cheques are mainly used to withdraw cash, and the payee generally fills in the name of his or her own unit; Transfer cheques are used for settlement, and the payee is generally the receiving unit or individual. Also, the check is valid for 10 days.

The common point is that the payment bill, the bank draft refers to the bill of exchange issued by the bank, which is generally deposited by the remitter with the local bank, and issued by the bank to the remitter to handle the transfer settlement or withdraw cash. It can be used by units, individuals, and individuals.

A cashier's check is a bill issued by a bank promising to unconditionally pay a certain amount to the payee or bearer at the sight of the bank.

There is a bank draft"Drawer""Beneficiary"with"Payer", while cashier's check only"Drawer"with"Beneficiary".

Bank draft"Drawer"Both"Issuing bank","Beneficiary"It can be the sender or someone else"Payer"It is the issuing bank of the bill of exchange. The prompt payment period for bank drafts is one month from the date of issue.

In the case of a cashier's check, there is no independent payer other than the drawer, and the drawer bears the responsibility of unconditionally paying the amount of the bill on the maturity date after completing the issuance, and does not need to accept it before the maturity date. Bank cheques are an alternative to cash and cannot be overdrawn.

There are three basic parties to bills of exchange and checks, namely the drawer, the payer, and the payee; The promissory note has only two basic parties: the drawer (the payer and the drawer are the same person) and the payee. There must be a financial relationship between the drawer and the payer of the cheque before the cheque can be issued; There is no need for a financial relationship between the drawer and the payer of a bill of exchange; The drawer of the promissory note and the payer are the same person, and there is no so-called financial relationship, and so on.

Extended Materials. A promissory note refers to an instrument in which the issuer unconditionally pays a certain amount of money to the payee on the due date. This type of instrument involves only two parties, the drawer and the payee.

The drawer issues a promissory note and assumes its own payment obligations. The promissory note should generally contain the words "promissory note", an unconditional commitment to payment, the payee or his designee (if there is no payee name, the bearer shall be the payee), the amount to be paid, the date and place of issue, the date and place of payment, the signature of the invoicer, etc.

According to whether the name of the payee is stated on the face of the ticket, the promissory note can be divided into a registered promissory note and an anonymous promissory note. According to whether the face has an expiration date, it can be divided into a fixed-term promissory note and a sight promissory note. The promissory note does not need to be accepted, and the drawer shall be liable for payment after issuing the ticket.

After getting a promissory note, whether the promissory note is valid, according to the provisions of the Negotiable Instruments Law of the People's Republic of China, this promissory note requires the following necessary items:

1.Indicate that it is a "promissory note";

2.unconditional payment commitments;

3.Signature of the drawer;

4.the date and place of ticket issuance;

5.the amount determined;

6.The name of the beneficiary or his/her designee.

1) A promissory note is a kind of instrument, which has the common nature of all instruments, and is a non-caused, right-granted, literal, essential, monetary creditor's right, negotiable, etc.

2) The promissory note is self-paying**, which is paid by the drawer himself to the payee and bears absolute payment responsibility. This is the most important difference between a cashier's check and a money order or check. In the legal relationship of promissory note, the basic parties are only the drawer and the payee, and the creditor-debtor relationship is relatively simple.

3) No acceptance is required. Promissory notes can be subject to the bill of exchange legal regime in many respects. However, since the drawer bears the responsibility for payment by the drawer himself, there is no need to entrust others to pay, so the promissory note can guarantee payment without acceptance.

There are various ways to divide promissory notes, which can be divided into commercial promissory notes (also known as "general promissory notes") and bank cashier's checks according to different issuers; According to the different payment time, it can be divided into sight promissory note and usance promissory note; According to the record of whether there is a payee or not, it can be divided into a registered promissory note and a bearer promissory note; According to the different ways in which the amount is recorded, it can be divided into fixed amount promissory notes and irregular amount promissory notes; Depending on the payment method, it can be divided into cash cashier's check and transfer cashier's check.

A bill of exchange refers to an instrument issued by the drawer and entrusted to the payer to pay a certain amount to the payee or bearer unconditionally at the sight of the bill or on a specified date.

A promissory note is an instrument issued by the drawer, promising to unconditionally pay a certain amount to the payee or bearer at the sight of the drawer.

A cheque refers to a bill issued by the drawer that entrusts a bank or other financial institution to handle the cheque deposit business to unconditionally pay a certain amount to the payee or bearer at the sight of the cheque.

The differences between the three are as follows:

1) The promissory note is agreed (agreed to pay in person)**; A bill of exchange is a commission (entrusting another person to pay)**; Cheques are paid on an escrow basis**, but the trustee is limited to a bank or other statutory financial institution.

2) There are differences in the use of bills in China. The promissory note is only used for the settlement of goods and services and other payments that imitate the same city; Cheques can be used in the same city or in the area where the bill is handed over to the bridge; Money orders can be used both in the same city and in other places.

3) The payment term is different. The payment period of the promissory note is 1 month, and the bank will not accept the overdue payment; The cheque payment period is 10 days (from the day after issuance, and the due date will be postponed if it falls on a holiday).

4) There are three basic parties to bills of exchange and checks, namely the drawer, the payer and the payee; The promissory note has only two basic parties: the drawer and the payee.

5) There must be a financial relationship between the drawer and the payer of the check before the check can be issued; There is no need for a financial relationship between the drawer and the payer of a bill of exchange; The drawer of the promissory note and the payer are the same person, and there is no so-called financial relationship.

6) The main debtor of checks and promissory notes is the drawer, while the main debtor of the bill of exchange is the drawer before acceptance and the acceptor after acceptance.