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If you issued a cheque of rs 1000 to any party of hdfc bank and suppose at the time he debited your cheque the required balance is not as then is the chrge of hdfc bank is rs 350?
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What happen when a discounted cheque dishonoured?
cheque is returned to the party and amount of discounted value of cheque is debited in his account.
What is the mean of check book balance?
Cheque book balance means bank balance as per cheque book
When is a bounced check not considered illegal?
Condition 1: If the date written on the check has not arrived at when the cheque is presented into the account from which the amount is to be debited. Condition 2: If the signature on the cheque doesn't exactly match with that of the account holder from whose account it is to be debited. In these cases either the check is returned to the issuer for corrections with correct signatures over the areas corrected or the issuer is asked to issue a fresh cheque.
What is the difference between a current balance and an available balance on a checking account?
I am not a banking expert, but my understanding is that - say you have 100$ in your account and you pay in a cheque for another 100$, then your current balance will be 200$ but your available balance will be 100$ until the cheque clears (when the available balance will match the current balance). This protects the bank from someone paying in a cheque that may 'bounce' and withdrawing money that never gets put into the account.
What are the disadvantages of paying cheques?
Some disadvantages are:You may lose the cheque or it might be stolenThe cheque issuer may not have sufficient balance in his acc to honor the cheque
What is an unrepresented cheque and does it require an adjustment to the balance sheet?
yes
What is cheque?
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the cheque (provided the account has sufficient balance) from the bank where the cheque issuer holds his account.
What is a cheque?
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the cheque (provided the account has sufficient balance) from the bank where the cheque issuer holds his account.
What is purchase in accounting?
Purchase is that in accounting that what we are purchasing and purchase is to be done by cash ,by cheque. eg: purchase Bag of rs500, so here bag is debited and cash is credited.
How long does it take for a cheque to clear in a Halifax bank account?
It depends on where you write it or where the person you gave it to cashes it. With electronic processing, funds may be debited from your account anywhere from immediately to 48 hours afterwards. If presented in person at the bank it was drawn on for cashing, funds are immediately debited.
What is a cheque defiantion?
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the cheque (provided the account has sufficient balance) from the bank where the cheque issuer holds his account
What is a bank cheque?
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the cheque (provided the account has sufficient balance) from the bank where the cheque issuer holds his account
