BANKING AFFAIRS

Detailed explanation-1: -Hence, the Memo line which describes the purpose of the check is of least important in all the parts of a check.

Detailed explanation-2: -Memo. The memo blank of a check is probably the least important field you can find on a check. The memo is an opportunity for you to make special notes about the transaction that might be helpful to yourself or to the party receiving the check.

Detailed explanation-3: -Filling out the line that says “Memo” is optional, but helpful for knowing why you wrote the check. If you are paying a check for a monthly electric bill or rent, you can write “Electric Bill” or “Monthly Rent” in the memo area.

Detailed explanation-4: -Memo (optional). At the lower left is a line where you can, if you choose, note what the check is for, or write in your account number for, say, the utility company you’re paying with that check. It can also indicate that the recipient should apply the money to what you owe and not some other item.

Detailed explanation-5: -The memo section at the bottom of the cheque is optional. You can use this section to describe what the payment is for, e.g., by entering the number of the invoice you’re paying. If there’s ever a dispute about payment, it could serve as proof.