answersLogoWhite

0

Cheque truncation (check truncation in American English) is when a physical (paper) cheque is converted into an electronic form for transmission to the paying bank over the internet. This basically avoids having to physically move the cheque between banks, etc.

User Avatar

Wiki User

7y ago

What else can I help you with?

Related Questions

What is meant by truncation?

To shortenThe term truncation means shortness or cut off. An example of truncation is when a meeting or any scheduled convention has to be cut short for any reason.


What is truncation searching?

Truncation is a search method that allows you to find documents containing variations on a search term. To do a truncation search, type the first few letters (stem) of the keyword followed by an asterisk (*).


What is implied by truncation?

Truncation is used after the base or root of a word in order to include all the extensions of that particular word


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 is cheque truncation?

A cheque is a money order A truncation is something that is cut short. The two words together make no sense.


How do you calculate truncation error?

The truncation error is the difference between two sides of an equation. Each side has an error value which can be compared.


What is truncation mutation?

Truncation mutation is a type of mutation that results in the premature termination of the protein synthesis process. This leads to the production of a truncated or incomplete protein which may be nonfunctional. Truncation mutations can have serious consequences on the structure and function of the protein.


What is the collective noun for cheques?

The collective noun for cheques is typically "a batch of cheques." This term is used to describe a group of cheques that are processed or issued together. Other terms like "a book of cheques" may also be used when referring to a physical booklet containing multiple cheques.


Why cheques are not considered as part of money supply?

what is a cheques


Can cheques be falsified?

Yes. Cheques can be falsified but it is illegal. Only banks can issue Cheques to their customers. No one else is authorized or rather supposed to print Cheques. If anyone is found/caught printing/using bogus or fake Cheques they can be legally prosecuted and jailed for it.


What is the meaning of Non Micr cheques?

Defination for NON-MICR CHEQUES


What is truncation on a 1971 dollar coin?

For any coin, it's the sharply cut off bottom edge of a portrait or bust. The coin engraver's initials are often found on the truncation.