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A bank usually rejects cheques only for legitimate reasons. Some of the reasons are:
a. Cheque Expired - Usually cheques are valid only for 3 months from the date mentioned in it. So, if a cheque is dated 1st of January 2013 and you cash it in May or June of 2013, it will be dishonored because the cheque is old and invalid.
b. Signature of account holder does not match with bank records
c. Not enough funds in the bank account to pay the cheque
d. Any overwriting or editing in the cheque
e. Cheque issuer has explicitly put a stop-payment on the cheque.
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How long does a overseas check take to clear?
In the UK, cheques from other UK banks take up to 7 days to clear. The main problem with cheques is that they have to be physically sent to a clearing house where all the banks get together and swap their cheques. in the uk this is in london so a cheque put into your local branch in say, glasgow, will be sent by post to london, picked up by the issuing bank and returned to their main office so it can be processed.
Does all the cheque are micr cheques?
MICR stands for Magnetic Ink Character Recognition. It is a system using which magnetic readers can easily identify the bank that issued the cheque and other details reg. the cheque. Yes, all banks use MICR codes in their Cheques.
What is a check guarantee card?
For more than thirty years, UK banks have issued cards for use with cheques. The card would guarantee payment of the cheque up to a specific amount (£30, £50 or £100) even if funds were not available in the account. It made cheque payments secure for retailers. The cards were either dedicated guarantee cards or they could be use as debit or credit cards, depending on the issuing bank. In 2012, the cheque guarantee scheme was ended and paper cheques are no longer guaranteed. This move is in line with the UK banks' plans to withdraw cheques completely in the coming years.
What are personalised cheques?
When you order cheques/checks and have your name/address/phone number imprinted along with your bank name and account number on them, the cheques/checks are considered to be "personalised". ASAP Cheques/ASAP Checks Bank quality cheques/checks without bank prices, ready to ship in 24 hours.
Why did shops stop taking cheques?
they have stopped taking cheques because of fraud of signatures.
Does mastercard issue travelers cheques?
Banks issue/offer travelers cheques that carry the MasterCard brand.
How long is a UK cheque valid for?
Banks will usually reject cheques that are more than six months old, however it's at their discretion. Cheques remain legally valid for six years [http://www.fool.co.uk/news/your-money/current-accounts/2006/07/20/your-essential-banking-guide.aspx].
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.
Why to use check?
You use cheques as a a substitute for cash when you don't have enough cash in hand. You can use cheques at banks, shops etc. Cheques are negotiable instruments that can be treated at par with cash.
What happens if a business is given a counterfeit do banks accept it or reject it?
Reject.
Which american banks take accept traveler cheques?
Most all American Banks that are FDIC accept travelers checks.
How long is a personal check good for?
Most banks will accept them up to 6 months past the date on the cheque. Governemnt cheques, cashiers cheques, and certified cheques do not staledate, unless the cheque specificly states otherwise.
Can you get travellers cheques for someone else?
No. You can get them only from banks that are authorized to issue travelers Cheques. Also, these Cheques are issued to an individual and the bank records this information. Only the same individual can cash it and the cheque cannot be cashed by anyone else.
How do you cash travellers cheques in accrs?
When traveling to Accra, Gahna, it is wise to carry travelers cheques with you. There are several places to cash them, such as hotels and banks and bureas that have the Forex system available.
Who Keeps a record of checks?
Banks and other businesses, keep a record of cheques on databases saved on servers.
Does anybody know how easy it is to exchange Japanese travellers cheques in Thailand?
pretty easy because there is a lot of banks there
How do you send money from Saudi Arabia?
Use the banks, and wire the money. But don't send cash or cheques from ksa
