What is a live check?

A live check is a physical check that is written by an individual and presented in person at a bank or financial institution to be cashed or deposited. Unlike electronic transfers or online payments, a live check requires a physical presence and usually involves filling out a paper form with the necessary information. Live checks are typically used when immediate cash or a physical record of payment is needed, such as for rent payments, personal transactions, or in situations where electronic payment options are not available. It is important to note that live checks may have processing and clearing times that can vary depending on the bank or financial institution.