An electronic checkbook is a type of account offered by banks or other credit institutions in which the holder or holder can make usual arrangements such as deposits or transactions directly from his computer, mobile devices or through traditional electronic tellers.
Another way to name these checkbooks is under the name “demand deposit accounts”, “sight accounts” or “electronic or virtual accounts”. This type of modality is becoming more frequent and more widespread thanks to the rapid growth that electronic banking and the expansion of Internet and mobile devices have experienced in recent years.
As with traditional banking and checkbooks or lifelong accounts, this option allows direct debit payments, the payment of current expenses with the associated account or knowing at any time the available balance offering greater comfort to the holder. In this way, it seeks to avoid delays or dislikes to the user when managing and managing their savings in a bank office.
Usually this type of banking modality does not support the issuance of checks and is not usually associated with any type of credits . However, these characteristics always depend on each type of contract and individual entity.
Alternatively, this type of electronic options facilitates the use of money abroad and favors online commerce .
Who can have an electronic checkbook?
Any natural person of legal age or fiscal has the possibility of accessing the management and possession of an electronic checkbook by signing their corresponding opening contract and an initial deposit.
As with traditional bank accounts, operations are carried out through a debit or identification credit card .
