Banks have a custom, after paying and charging checks, of canceling them by punching or by making some cut through their face. These canceled checks are returned to the makers at the end of each month.

Checks Presented After Death. As a general rule banks are expected to stop the payment of a check the signer of which has died before its presentation. This is not always possible,for the reason that information as to the death of a customer may not reach the bank for days, so that in reality banks are every day paying checks of men who are dead. In Massachusetts, checks are good for ten days after the death of the signer.

Checks Should Be Numbered. . Checks should be numbered so that each can be accounted for. The numbers are for your convenience and not for the convenience of the bank. It is important that your check-book be correctly kept, so that you can tell at any time how much money you have in the bank.

At the end of each month your small bank-book should be left at the bank so that the bookkeeper may balance it. It may happen that your bank-book will show a larger balance than your check-book. You will understand by this, if both have been correctly kept, that there are checks outstanding which have not yet been presented at your bank for payment. You can find out which these are by checking over the paid checks that have been returned to you with your bank-book. The unpaid checks may be presented at any time, so that your actual balance is that shown by your check-book.

Checks should be presented for payment as soon after date as possible.

Certificate of Deposit. If you deposit money temporarily in a bank for safe keeping you will receive a receipt therefor. This receipt is usually called a certificate of deposit. See illustration. It often occurs that such certificate is used instead of a bank draft, in the payment of distant bills. Interest is allowed under certain conditions. It is practically a bank's check on itself. In issuing certificates of deposits to strangers the bank should take their signatures upon the margin of the certificate book, so that, when the certificates come home for redemption, the indorsement may be compared with this original signature, if it seems necessary. Of course every properly managed bank has a ledger account of certificates of deposits issued, which is a full record of the amounts and names of all certificates issued, together with their dates and numbers. Returning certificates can be compared with this record as they are presented for payment through clearing-houses and over the counter.

Certificate of Deposit.