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Can a cheque dated may 2005 still be paid into an account?
I am afraid not. after one year they are dead. Such cheques are called Stale Dated Cheques. It differs from country to country. In many countries cheques become stale after 90 days from the date of issue
Why cheques not cleared today?
In the UK it depends who you bank with, traditionally cheques have always taken 3 days to clear through the UK banking system, this allowed the banks time to check that the money was available to pay the cheque, however technology has improved so much that it no longer takes 3 days in many cases the cheque can be cleared almost instantly, some UK banks now offer to credit your account at the time you deposit the cheque, although others still insist on waiting up to 3 days. Check with your bank for clearance terms.
Collection and payment of check?
When you deposit a cheque into your bank account the series of steps mentioned below follow... Assuming the cheque you deposited is from Bank A and your bank is Bank B. 1. Bank B collects all the cheques that are issued by customers of Bank A. 2. They would send all these to Bank A for validation, who in turn would send cheques of Bank B deposited with them 3. In Bank A, all the cheques will be validated for their originality and also for funds in the accounts. If so, those cheques would be passed. 4. In the meantime Bank B would have validated its cheques that were given by Bank A 5. Bank A and Bank B would have some calculations and adjust the payments to be made for the cheques issued by its customers. 6. All this happens in 2-3 working days and you would realize the payment.
What is cheque discounting?
Client can take money from bank on the security of post dated cheques issued by their credit worthy customers. The bank in this case is certain that they will get the payment of this cheque on the due date from the customer of the client. Normally the cheques should not be dated for date which is later than 90 days from the date of discounting.
How long does a overseas check take to clear?
In the UK, cheques from other UK banks take up to 7 days to clear. The main problem with cheques is that they have to be physically sent to a clearing house where all the banks get together and swap their cheques. in the uk this is in london so a cheque put into your local branch in say, glasgow, will be sent by post to london, picked up by the issuing bank and returned to their main office so it can be processed.
What is limitation period of cheque?
The period of limitation is 6 months whereas banks now a days generally accept cheques of not more than 3 months old.
How many school days are required for St George Utah?
190 days are required for St.George Utah though the national average is 181 days
What do you mean by MICR check?
MICR stands for Magnetic Ink Character Recognition In olden days cheques were validated and passed manually. The account numbers had to manually validated and tagged. This MICR is a magnetic code that is printed on the bottom of the cheque. When the cheque is placed under a MICR reader, the machine would automatically identify the account number and details of the person who issued the cheque. This aids in faster processing of cheques. Also counterfeit cheques would not be passed by this way.
BACS payment clearance time in abbey?
3 working days. Same as most UK banks.
What was the number of shooting days required to make the 1960 version of the film Spartacus?
The number of shooting days required to produce the 1960 version of Spartacus was 167 days.
How many days rest required after recovery from typhoid?
10 days
How many days rest required after circumstance operation?
15 days
