In this paper, we propose a novel electronic bearer check system (EBC). This system allows the consumer to pay any amount of money below an upper-boundary on the Internet within an expiration period. During each transaction, the consumer does not need to contact the bank's server. Furthermore, this electronic bearer check can be transferred to any third party. The off-line characteristic of our system is very convenient for the consumer. Moreover, the double spending and double depositing problem will not occur in this system. More importantly, the framework of this system provides anonymity to protect customer privacy.