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Its indeed a pay order or a draft issued by the bank.
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∙ 12y ago
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What is the meaning of cash and check deposit?
Cash Deposits means when the money deposit to your Account(yourself/others)same time your account will be shows the credit, but in case fo cheque deposit bankers send to the cheque for clearence when its cleare then only your account will be shos credit.
What is the procedure done by bankers for out of range cheques?
A cheque (American and others write Check) is an order (an instruction) by the cheque writer to his/her bank to take money from their account, and to give it to the person (or business) named on the cheque. The cheque writer (drawer) writes the various details including the money amount, date, and a payee (intented recipient/beneficiary of the transfer) on the cheque, and signs it, ordering their bank to pay that person or company the amount of money stated.If the depositor's bank reverses the cheque deposit and advises you cheque out of range you can ask either bank "What do you mean? What's the problem?" Neither banker may really know why the automated cheque reader has rejected the cheque. Odds are - there is a blemish or error in the digital/electronic coding on the cheque that make the cheque invalid, or rather, the instruction to the paying bank becomes void for some reason [whether deliberate by the writer, or otherwise]. Because we are "at the mercy" of the automated cheque reader it is best to ask the writer to replace the faulty cheque than get into a tantrum with any bank staff.Stale cheques are cheques not presented within six months of the date on the cheque. When the holder of the cheque seeks to deposit the stale cheque, the bank will typically decline to accept it. The teller may suggest you ask the cheque writer to issue a new replacement cheque - but they are not obligated to advise you about your options.Regards, Myke
How do banks make money other than from interest on loans?
Banks usually charge fees for the different types of services they provide like Fees on issuing bankers' cheque, DD, eTransfers, etc.
Is the correct grammar a cheque of or a cheque for?
cheque of is a right grammar!
Is a cheque also called a cheque leaf?
Yes. A Single cheque is also called a cheque leaf
What is a bacs payment?
Bankers Automated Clearing System a transfer of money electronically from one bank to another without a cheque or postal system.
Is demand draft and bankers cheque the same?
no they r not same. a demand draft means a bank orders other banks or its branches to pay money to a person whose name have written on draft.it has a long proses.but we can use telephonic or telegraphic transfer too to made this proses easy. In the other hand ACCORDING TO ME bankers cheque r for loans which one bank borrow from other
What is the meaning of cash and check deposit?
Cash Deposits means when the money deposit to your Account(yourself/others)same time your account will be shows the credit, but in case fo cheque deposit bankers send to the cheque for clearence when its cleare then only your account will be shos credit.
What is the procedure done by bankers for out of range cheques?
A cheque (American and others write Check) is an order (an instruction) by the cheque writer to his/her bank to take money from their account, and to give it to the person (or business) named on the cheque. The cheque writer (drawer) writes the various details including the money amount, date, and a payee (intented recipient/beneficiary of the transfer) on the cheque, and signs it, ordering their bank to pay that person or company the amount of money stated.If the depositor's bank reverses the cheque deposit and advises you cheque out of range you can ask either bank "What do you mean? What's the problem?" Neither banker may really know why the automated cheque reader has rejected the cheque. Odds are - there is a blemish or error in the digital/electronic coding on the cheque that make the cheque invalid, or rather, the instruction to the paying bank becomes void for some reason [whether deliberate by the writer, or otherwise]. Because we are "at the mercy" of the automated cheque reader it is best to ask the writer to replace the faulty cheque than get into a tantrum with any bank staff.Stale cheques are cheques not presented within six months of the date on the cheque. When the holder of the cheque seeks to deposit the stale cheque, the bank will typically decline to accept it. The teller may suggest you ask the cheque writer to issue a new replacement cheque - but they are not obligated to advise you about your options.Regards, Myke
How do banks make money other than from interest on loans?
Banks usually charge fees for the different types of services they provide like Fees on issuing bankers' cheque, DD, eTransfers, etc.
How do you check a cheque?
To check a cheque, you must check if the cheque is checked by checking the checked cheque of checking a checked cheque as a checker.
Difference between order cheque bearer cheque?
A person holding the cheque can collect the amount if it is a bearer cheque. The payee (i.e. the person in whose favour the cheque is issued) only or his authorized person only can collect the amount of the cheque if it is an order cheque
Is the correct grammar a cheque of or a cheque for?
cheque of is a right grammar!
Is a cheque also called a cheque leaf?
Yes. A Single cheque is also called a cheque leaf
Advantages of paying in bankers draft?
- it will not bound when you make purchases - is cheaper and slower method of sending money - it has the backing by issuing bank - it is better than personal cheque - it can be made out to pay a named account to give it absolute security
Who hires bankers?
Bankers Retardo
When does a cheque bounce?
When either of the below happens: * Not enough funds in the account to pay the cheque * Signature of the cheque issuer does not match with the signature in the cheque * Cheque is expired (Date of cheque is before 6 months from date of deposit) * There are any over-writings in the cheque without being counter signed by the cheque issuer.
