draw cheques during the restriction period, that person's accounts in Israeli banks will be denied from issuing cheques. Japan In Japan, cheques are called , and are governed by . Bounced cheques are called . If an account owner bounces two cheques in six months, the bank will suspend the account for two years. If the account belongs to a public company, their stock will also be suspended from trading on the stock exchange, which can lead to bankruptcy. Canada In Canada, cheque sizes and types, endorsement requirements and MICR tolerances are overseen by Payments Canada. Canadian cheques can legally be written in English, French or Inuktitut. A tele-cheque is a paper payment item that resembles a cheque except that it is neither created nor signed by the payer—instead it is created (and may be signed) by a third party on behalf of the payer. Under CPA Rules these are prohibited in the clearing system effective 1 January 2004. Canada's usage of cheques is less than that of the US and is declining rapidly at the urging of the Canadian Banking Association. The Government of Canada claims it is 6.5 times more expensive to mail a cheque than to make a direct deposit. The Canadian Payments Association reported that in 2012, cheque use in Canada accounted for only 40% of total financial transactions. The Interac system, which allows instant fund transfers via chip or magnetic strip and PIN, is widely used by merchants to the point that few brick and mortar merchants accept cheques. Many merchants accept Interac debit payments but not credit card payments, even though most Interac terminals can support credit card payments. Financial institutions also facilitate transfers between accounts within different institutions with the Email Money Transfer (EMT) service. Cheques are still used for government payments, payroll, rent, and utility bill payments, though direct deposits and online or telephone bill payments are more widely and increasingly used. The Canadian government began phasing out all government cheques from April 2016. A void cheque has a special code called a MICR (Magnetic Ink Character Recognition) that is used by the bank to process the payment. The MICR code consists of the cheque number, transit number, and account number. The MICR number on a cheque can be interpreted as follows: The first three or six digits on the left represent the cheque number. The next five digits represent the Transit