Outstanding Check

A financial instrument that draws on the funds in an individual's or business' bank account but which has not yet been cashed or deposited by the payee. An outstanding check represents a liability for the payor. The payor must be sure to keep enough money in the account to cover the amount of the outstanding check until it is cashed, which could take weeks or even months.

Forgotten outstanding checks are a common source of bank overdrafts. One way to avoid this occurrence is to maintain a balanced checkbook. With banking activity becoming increasingly electronic, another way to avoid writing a check and forgetting about it is to use the checking account's online bill pay service, which should provide real-time information about the total dollar amount of checks outstanding and the total dollar balance presently in the account.


Investment dictionary. . 2012.

Look at other dictionaries:

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  • Shared Check Authorization Network — (SCAN) is a comprehensive database of bad check writers in the United States. The database is used by retailers in order to reduce the number of bad checks received. The database keeps track of those who have written outstanding bad checks to any …   Wikipedia

  • stale check — A check which bears a date of issue very much earlier than the date of its presentation or negotiation. A check which has been outstanding too long. A check, other than a certified check, that is presented for payment more than six months after… …   Black's law dictionary

  • Stimulus Check — A check sent to a taxpayer by the U.S. government. Stimulus checks are intended to stimulate the economy by providing consumers with some spending money. When taxpayers spend this money, it will provide a boost to retailers and manufacturers and… …   Investment dictionary

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