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What is a returned check?
A check is said to have returned if it does not meet any of the conditions as laid down by the banker. The condition may be insufficient funds, omission of date, no signature and so on. Bank will apply some charges for the check returned.
What is difference between a check and a draft?
How bank drafts are different from checks.Any business can create a bank draft. A bank draft, is also called a demand draft, or check draft. It is a legal copy of the check that is created by the merchant, and authorized by the account holder, but not created by the account holder.Examples of bank drafts are anything that does not have the original signature. An insurance draft is signed by a machine, not the actual treasurer, a money order has a pre-printed signature and is also a draft. A cashier's check is often considered a draft because it is signed by the cashier, and not the bank president - so it is created on behalf of the ture signer on the account. Tax refund checks are drafts, and so are rebate checks when you buy products and get money back.A regular check is created by the account holder, and signed (authorized) by the account holder. A regular check is then given to the merchant and is considered an original item. Checks have certain requirements as to how they are printed, what ink is used, and require the signature of the authorized signer on the checking account.A bank draft is created by the merchant, and the signature is not required. The account holder must authorize the merchant to create a bank draft, and this can be done by phone, fax, by contract, implication, or online.Authorization is indicated on a bank draft in the signature blank, usually by a statement such as the following: "This draft is preauthorized by your depositor, no signature required." It can also have a signature stamp or preprinted signature likeness of the account holder.Demand Drafts are often called checks by phone, checks by fax or online checks because authorization can be obtained this way. The actual draft is the physical item that is printed by the merchant.How to create a bank draft if you are a business:Accept checks by phone, checks by fax or take checks online from customers, just like you would take credit cards. Using an existing shopping cart, secure web form, or third party payment form online will allow, you to gather all of the information you need to accept checks online and create a draft of the check, called a bank draft.Once you have gathered the information from your customer, software like CheckWriter, will print a physical draft of the check for deposit into any bank the same day.Demand drafts, or bank drafts are For Deposit Only items and typically cannot be "cashed" like a regular check. Checks can be paid to a third party, cashed at the grocery store or check casher, or presented for payment at the issuing bank for cash.Unlike a check, a demand bank draft is for deposit. This is one way banks cut down on fraud. You must deposit a check draft into a bank account, creating a paper trail.Because once they are deposited, banks treat your draft just like a regular check, your funds should credit to your ledger balance the same business day. There are almost never fees associated with check drafts, and a draft will clear just like a regular check. The account holder will get back the physical item you deposit, or image per the terms of their account statement.Benefits to creating drafts:Check drafting is a fantastic way to take payment. The benefits go on and on with taking drafts over any other eCheck solutions like ACH.- Bank drafts are treated just like a check you get through the mail.- Bank drafts credit to your ledger balance the same banking day.- Bank drafts have no fees associated with them.- Bank drafts are created onsite with no third party processor.- No merchant account is required to create bank drafts.- Strict ACH regulations published by N.A.C.H.A. do not apply to drafts.- Any business, including telemarketing, credit repair and others canuse the software to create a valid bank draft.ANOTHER USER WROTE:A check is your personal check, where the money will be taken out of your account.A bank draft can be thought of as a 'bank's check', i.e. money will be paid by the bank who redeems the draft. This is very similar to money-order for practical purpose. The bank therefore takes the money in advance from the person who issues a draft and in return gives a 'bank check/draft' for that amount.Draft is therefore more reliable form of accepting payment as the personal check may bounce, but the draft will not.
What percentage of total income should be spent on housing?
Well one is obligated to pay their rent, but if someone is going to be paying over 30% of their monthly income on rent, there is a possibility of going upside down.
What do you write when you sign a letter on behalf of someone?
When signing a letter on behalf of someone, write the abbreviation p.p. in front of your signature. The absent persons name is then written on the next line down.
Can someone write on the memo line of a personal check?
Yes, a person can write on the memo line of a personal check. Many people write down account numbers or what the check is being written for.
If a letter was stamped 'returned to sender' due to the stamp being placed upside-down will the post office resend it once the stamp is possitioned correctly?
The post office would not return a letter for the stamp being upside down.
What does it mean when a stamp use to be place upside down or sideways like flowers and stones this has a meaning all the way up to the 1960.?
when a postage stamp is placed upside down it means i love you
Will a first class letter mail with upside down stamp?
The orientation of the stamp is not a factor in mailing. It doesn't matter.
Do sloth sleep upside down?
check your answer
Why is cranberry sauce always labled upside down?
Check comments on Jason Nitzberg's website "Cranberry sauce upside down label mystery"
Why did damnlolcom randomly turn the webpage upside down?
Check the date ;-)
What is the meaning of putting a stamp upside down on a envelope?
well, upside- down stamp means do you remember me, or I miss you. Right- side up and completely straight means right back soon. upside down and tilted to the left, means don't write back, upside- down tilted to the right, means some where inside the letter on om it somewhere, you will leave a date ot instructing in code, or in some king of language system, when and how to send. sideways head pointing left or right usually has a romantic intention.
Is it normal for a ferret to eat upside down?
If your ferret eats food upside down only, I wouldn't think it would be normal, check his teeth and gums for any signs of problems
Can the earth be upside down?
The earth can not be upside down.
What sports are upside down?
Gymnastics is kind of an upside down sport because the handstand you do it upside down and that's the only sport you do upside down flips and etc...
If a bat spends more time upside down than not upside down and it sleeps upside down are it's dreams also upside down?
Dude are you serious? And probably not
What is the value of a 1948 Jefferson nickel with him upside down?
He will always be upside down. The US makes coins that way. Check it with other nickels. So it's worth maybe 7-9 cents.
