An electronic checkbook is a type of account offered by banks or other credit institutions in which the holder or holder can carry out routine procedures such as deposits or transactions directly from their computer, mobile devices or through traditional electronic tellers.
Another way of calling these checkbooks is under the name of "sight deposit accounts", "sight accounts" or "electronic or virtual accounts". This type of modality is becoming more frequent and is more widespread thanks to the rapid growth that electronic banking has experienced and the expansion of the Internet and mobile devices in recent years.
As with traditional banking and checkbooks or lifelong accounts, this option allows direct debit of receipts, payment of current expenses with the associated account or to know at all times the available balance offering greater comfort to its holder. In this way, the aim is to avoid delays or annoyances for the user when managing and administering their savings in a bank branch.
Usually this type of banking method does not support the issuance of checks and is not usually associated with any type of credit. However, these characteristics always depend on each type of contract and particular entity.
Alternatively, this type of electronic options facilitates the use of money abroad and favors online trading.
Who can have an electronic checkbook?
Any natural person of legal age or tax has the possibility of accessing the management and possession of an electronic checkbook by signing the corresponding opening contract and an initial deposit.
As with traditional bank accounts, operations are carried out through an identifying debit or credit card.