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What is a check that has been written but not presented to a bank for payment?
Wiki User
∙ 11y ago
Its a cheque that has been handed over rather than cash paid. It tells the bank to pay the person named the amount of money written on thee cheque. If the recipient doesn't hand the cheque to their bank the payer never has their money taken from their account, so has obtained goods our a service without paying for it. I cant remember who it was, but someone famous never signed Autographs so that people kept the cheques they signed and never cashed them so they got away without paying
Wiki User
∙ 11y ago
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What type of check does a bank agree in advance to accept when the check is presented for payment?
DRAFT CHEck
What are bad checks that customers have written?
Bad checks are checks that customers have written in payment of goods or services that, when presented to the bank for payment, are returned because there is not enough money in the customers account to meet the amount stated on the check. In some countries it is a criminal offense to write a bad check.
What are on sight letters of credit?
A letter of credit that is payable once it is presented along with the necessary documents, a written commitment by a bank to make payment at sight.
How to stop a check that was allready deposit?
You can try calling your bank and ask them to stop the check immediately. If your bank has not yet processed the payment for the check, then the bank will be able to stop the transaction. However, if they have already passed on the payment to the target bank, unfortunately they cant help you because you issued the check and failed to notify the bank on time to stop the payment.
Can you stop payment on a certified check?
Call the bank where you got the check.
What type of check does a bank agree in advance to accept when the check is presented for payment?
DRAFT CHEck
What do you do when you lose a signed check?
Call the bank, immediately (if not sooner) and place a Stop Payment on the check number. This will require you to pay a fee to the bank for this process, but it will be cheaper in the long run just for your own peace of mind. If the check is then presented for payment, the computer systems will "flag" that check and prohibit payment to whomever is presenting it for payment.
What are bad checks that customers have written?
Bad checks are checks that customers have written in payment of goods or services that, when presented to the bank for payment, are returned because there is not enough money in the customers account to meet the amount stated on the check. In some countries it is a criminal offense to write a bad check.
How do you stop payment on a check and reissue it?
Call the bank. Have the check number, who it was issued to, and date written. They will charge a fee to do this.
Will banks refuse payment of stale check presented through clearing?
Yes. They will refuse payment. No bank will actually cash a stale dated check. Checks usually have a validity of 90 or 180 days (depending on the country) and after that date, the check is stale and worthless. No bank will accept such checks for cashing or cash it.
Can you stop payment on a check that is clearing the same day?
It Depends: Yes - If the check has just reached the bank and the banks is still processing the payment. If so, you can issue a stop payment and the bank will not pay for the check No - If the bank has already processed the check and released the payment to the payee customers bank account.
Can you put a stop payment on a check after it is cashed?
No. A stop payment can be issued only before the check payment is made by the bank. If you try a stop payment after the bank has paid for the check, the bank wont accept it because the stop payment instruction is useless now and cannot be executed.
What are on sight letters of credit?
A letter of credit that is payable once it is presented along with the necessary documents, a written commitment by a bank to make payment at sight.
What is a personal check for which a bank is guaranteed payment is called?
cashiers or bank check!
What is a written order directing the bank to deduct money from your checking account to make a payment called?
a check
What is meant by Payment by documents through bank?
Payment by documents through your bank is how you have made your payment. The document could be your check.
What will happened on the bank reconciliation if a check was destroyed?
If the check was paid-out it needs to be subtracted from the balance in the normal fashion and the individual owning the account can make a note that the original check was destroyed. In this case, the bank should have a record that the check was paid should some proof be needed later. If the check never reached the bank on which it is written, and so was not paid out by the bank, the owner of the bank account can make a note of a "voided" or lost check number in the reconciliation record, and ignore the subtraction of the amount from the balance. I'd recommend PROOF that the check was destroyed before doing this, however. Should it later "show-up" and go through the account, the bank will honor it and pay out the amount and this could cause trouble if the payer (person who wrote the check) doesn't expect it. If the account owner wants to "void" the check in the register, he or she should KNOW the check won't be presented OR put a "stop payment" order on the check with his or her bank. To do this, the payer needs to contact his or her bank on which the check was written and inquire about how to put a stop payment order on that particular check. To do it you will need to know when the check was written, the amount and to whom. (It's always a good practice to keep these records when writing a check.) The stop order may cost a fee - but the minimal fee of stopping payment for a check can be worth it to know the check won't be presented later unexpectedly, especially if the payee (person or business to whom you wrote the check) wants a new check to be issued or if the lost or destroyed check is for a large amount.
