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Cash is the coin and currency the government declares to be its official medium of exchange and legal tender. It can be exchanged for goods and services, the settlement of a debt, and in other financial transactions. Cash is one payment system in our economy that everyone uses to some degree. Coin and cash currency begins with the US Treasury Department's Bureau of Engraving and Printing for currency and the US Mint for coins. After it's produced, cash is processed through the Federal Reserve to consumers. One pro about today's currency is that it is safer and more secure than ever. Every seven to ten years, the design of US currency is changed to protect against counterfeiting. Also, when Federal Reserve Banks receive cash, it is processed through high-speed sorting machines that separate mutilated and suspected counterfeit currency, which is then removed from circulation. Suspect currency is sent to the US Secret Service and Federal Reserve Banks destroy mutilated currency- notes that are torn, weak, limp, written on, missing a portion, or otherwise damaged. A check is a draft on an account in a bank that the owner of the account signs to direct the bank to pay a certain amount to the payee. For many years, checks were the most popular alternative to coin and currency. Until electronic transations became more prevalent, US consumers, businesses, and government entities used checks to make most commercial and personal payments. One con for checks has to do with posting them. Posting is the process of addings deposits to an account balance and subtracting checks and other withdrawals from that balance. During this process, checks could be held for nonsufficient funds (an uncollected balance so that there are insufficient funds), or a stop payment (a hold placed on the account). Either one could obviously delay the posting process.