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Q: Do the Chinese even use cheques?
I'm preparing a lesson on banking and money and I was writing about how in the UK cheques have largely died out to be replaced with debit cards and I realised I don't think I've ever seen a cheque in China. Do they exist? What about your home nation?
11 years 19 weeks ago in Money & Banking - Other cities
Cheques (checks fer th' 'Mericans) have not been used in China as they have always been a predominanty cash society. Back in the dynasty days, letters of credit were used by officials and nobles.
Certified cheques are still available through major ICBC branches.
Cheques (or checks) are used for business purposes. If you have a registered company here, to withdraw cash from a RMB account, you purchase the cheques from the bank. You need a little device for generating a PIN number each time, the main company stamp (chop) and the smaller, square legal representative chop. The cheques are not signed.
Who uses cheques now? Anyone? I imagine debits cards dominate anywhere one may use them.
:
Just yesterday, I shelled out 3/4 of a month's salary to the plumber.... by check.
My bank account is still weeping.
my company does.
bill8899:
May I ask what they use them for? Very large purchases? Inventory purchases?
