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My cheque has been returned to me and stated" not signed according to mandate" What does this mean?
It means, issuing a cheque that has a date that is past today's date. Let us say you issue a cheque today, May 28th 2009 and mark the cheque date as June 10th 2009, it means you have issued a post dated cheque.
It means that the value of the cheque is fixed and it cannot be negotiated or changed. The amount entered in the cheque is the exact amount anyone who deposits this cheque will get. Not a rupee more and not a rupee less. That is why Cheques are called non-negotiable instruments.
Cheque Bounce refers to the situation wherein, your bank account does not have enough money to pay the cheque that was issued by you.Let us say, you have issued a cheque for Rs. 12,000/- to your friend and he deposits the cheque into his account. On the day, this cheque comes for clearance to your bank account you have only Rs. 5,000/- which means you do not have enough funds to honor the cheque. Hence your cheque would bounce. Which means: No money would be paid for the cheque.Note: Cheque bounce is an offense and the bank and/or the cheque receiver can prosecute you.
It means you cannot cash it. A cheque has to be negotiable to be cashed. Non negotiable means it cannot be cashed. usually if you get a cheque with that stamped on it it is a sample or 'prize' lure for a contest.
a bank cheque (UK) (check)(US)
Transferrable Transferable
They both mean the same
check and cheque
My cheque has been returned to me and stated" not signed according to mandate" What does this mean?
Cheque book balance means bank balance as per cheque book
It means, issuing a cheque that has a date that is past today's date. Let us say you issue a cheque today, May 28th 2009 and mark the cheque date as June 10th 2009, it means you have issued a post dated cheque.
It means that the value of the cheque is fixed and it cannot be negotiated or changed. The amount entered in the cheque is the exact amount anyone who deposits this cheque will get. Not a rupee more and not a rupee less. That is why Cheques are called non-negotiable instruments.
When the bank has not enough funds in the relevant account or the account holder requests that the cheque is bounced (under exceptional circumstances) then the bank will return the cheque to the account holder. The beneficiary of the cheque will have not been paid. This normally incurs a fee from the bank.
Cheque Bounce refers to the situation wherein, your bank account does not have enough money to pay the cheque that was issued by you.Let us say, you have issued a cheque for Rs. 12,000/- to your friend and he deposits the cheque into his account. On the day, this cheque comes for clearance to your bank account you have only Rs. 5,000/- which means you do not have enough funds to honor the cheque. Hence your cheque would bounce. Which means: No money would be paid for the cheque.Note: Cheque bounce is an offense and the bank and/or the cheque receiver can prosecute you.
Cash or Cheque
cheque head quartres