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When the term "irregularly drawn" is used in context of cheque issue, it means that there is a mismatch between the amount written on cheque in words and in figures, lets say you have issues a cheque where amount is figure is writen as 800/ and on other side (in words )its written as seven hundred or so, this will create the irregularty and the instrument (cheque) is rejected by the payee bank.
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Sushil Jinder
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∙ 13y ago
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What is inward check?
Inward clearing means the cheques received by the bank from other banks.These - Inward clearing - cheques are the cheques drawn by the bank/branchcustomerson their account in favour of other parties. On receipt of the inward clearing, the cheques arepostedto the various accounts on which they are drawn - meaning the accounts of the cheque issuer or drawer with the bank is debited tothe accountand the payment is made to the bankpresentingthe cheque.
How is Self drawn cheques in India?
To draw a self-cheque in India, simply write "self" in the "pay to" field on the cheque along with your signature. You can then deposit the self-cheque into your own bank account. It is important to ensure that your signature matches the one registered with your bank to facilitate smooth processing of the transaction.
What is outward clearing check?
Cheques deposited in the bank for credit to their accounts, drawn on a bank other than that of the collecting bank,i.e., not a transfer cheque. Cheques are bound outward to the payee/ drawee bank (the bank that is making the payment/ on whom the cheque is drawn). Example: A cheque drawn on "Bank of America" deposited in "Chase Manhattan Bank ", is an outward cheque for Chase and is an inward cheque for Bank of America.Outward cheques could beLocal cheques (within the same geographical/ clearing zone),Outstation cheques (drawn on a bank outside the local clearing zone) orForeign cheques (drawn on a bank/ location outside the country of the collecting bank).
What is the meaning of Non Micr cheques?
Defination for NON-MICR CHEQUES
Cheques drawn payable to self?
Cheques drawn payable to self are considered self-indulgent transactions and can be risky due to the potential for misuse or fraud. It is generally advised to avoid issuing such cheques, as they can raise red flags for banks and may not be accepted for deposit. It's better to use other methods like electronic transfers or withdrawing cash from the bank instead.
Why is it that the intersection of the two lines drawn is considered as the location of the center of gravity of the irregularly shaped cardboard?
Secret
What is the medical term meaning irregularly shaped cell?
Poikilocyte
What is marking of cheque?
a person may not like to part with goods in return for a cheque from a party not well known to him.in such context the banker on whom the cheques is drawn may be asked by the customers to mark the cheques as good for payment.this implies that cheque was drawn in good faith and on funds sufficient to meet it.
What is Marked cheque?
a person may not like to part with goods in return for a cheque from a party not well known to him.in such context the banker on whom the cheques is drawn may be asked by the customers to mark the cheques as good for payment.this implies that cheque was drawn in good faith and on funds sufficient to meet it.
What is a collecting banker?
A collecting banker is one who undertakes to collect the amount of a cheques & bills for his customer from the paying banker. A banker is under no legal obligation to collect cheques drawn upon other banks for a customer. But this function is performed by every modern bank.
What methods can be used to deposit cash and cheques to a business bank account?
By usin cheques,it can be a cross cheques or open cheques
What does non automated debits mean on a bank statement?
Most typically it refers to cheques you have drawn on the account. Automated debits would be standing orders etc.
