Who Invented Checks?

Save

With the advent of the debit card, the use of checks has declined significantly. But checks have been an economic staple for hundreds of years in many developed nations.

Earliest History

  • The history of the checking system is complex, and no one person or culture can be credited with inventing the check.

Ancient Times

  • 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.

Early Middle Ages

  • In the early 12th century, the Knight's Templar began one of the first widespread banking systems. People would drop off their money in one of the Templar's stations, and claim it at another station with a handwritten paper claim draft. These drafts were the precursor to the modern check.

Late Middle Ages

  • In the early 1500s, Dutch merchants would deposit their money with cashiers, and write draft notes authorizing them to pay their debts from the deposits. This was seen as a safe alternative to carrying large sums of money, and eventually spread to other parts of Europe.

Serial Checks

  • The British began putting serial numbers on bank draft notes in the 1700s. According to infoplease.com, the use of the word "checks" may have originated at this time, because the serial numbers could be used to "check" one's account.

References

  • Photo Credit Image by Flickr.com, courtesy of Orin Zebest
Promoted By Zergnet

Comments

You May Also Like

  • Who Invented the iPod?

    The iPod wasn't the first portable music player on the market, but shortly after it debuted, it eclipsed previous players. Like other...

  • Who Invented the Microwave?

    Almost every kitchen across America has one, in some shape or form. And much like electricity itself, almost every person believes they...

  • Who Invented the First Coffee Maker?

    Whether you call it "Java," "Joe," "Mud," or "Bean Juice," coffee is a wildly popular--and incredibly profitable--beverage that can be prepared a...

  • Who Invented the Credit Card?

    Credit cards have been a part of commerce since the late 19th century. Originally, they were used by individual stores in order...

  • Who Invented Checkers?

    The modern-day game of checkers is played by two people. A player uses 12 either black or red pieces to eliminate or...

  • Who Invented the Volkswagen Bug?

    The Volkswagen Beetle, or Bug, is a German-made automobile that has found a loyal following around the world. The initial inspiration for...

  • Method of Data Input for Bank Checks

    Before computers were invented, handling bank checks was labor intensive and time consuming because all the data had to be recorded by...

Related Searches

M
Is DIY in your DNA? Become part of our maker community.
Submit Your Work!