When you write a cheque, you are instructing your financial institution to take that money from your account and transfer it to the person or merchant who is cashing the cheque.
Cheques are becoming a less popular method of payment in Canada, and many businesses no longer accept personal cheques.
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The Canadian Payments Association (CPA) is the organization that developed and operates the system of payments in Canada, through which payments, such as cheques, are exchanged and settled between financial institutions. To learn more about the cheque-clearing process, contact the CPA.