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When you deposit a cheque into your bank account the series of steps mentioned below follow...
Assuming the cheque you deposited is from Bank A and your bank is Bank B.
1. Bank B collects all the cheques that are issued by customers of Bank A.
2. They would send all these to Bank A for validation, who in turn would send cheques of Bank B deposited with them
3. In Bank A, all the cheques will be validated for their originality and also for funds in the accounts. If so, those cheques would be passed.
4. In the meantime Bank B would have validated its cheques that were given by Bank A
5. Bank A and Bank B would have some calculations and adjust the payments to be made for the cheques issued by its customers.
6. All this happens in 2-3 working days and you would realize the payment.
What else can I help you with?
Can you make payment to a collection agency?
Yes.
What are inward documents for collection?
The short versiion... bills that aresubmitted to a bank from another bank for collection and payment.
Can you stop payment on any check?
As long as the check isn't submitted for payment yet, you can issue the stop payment request. But, if the check is already paid the bank will not accept the stop payment. A point to note is that, the person to whom you gave the check can prosecute you legally for doing so because he wont get paid for the check.
What if you stop payment on a check due to the payee saying he lost the check but he cashed the check at a check cashing business after you stopped payment on the check what happens?
The check cashing business will be unable to recover the funds from your bank.
What is a source document for payment payroll?
A check is the source document for the payment of payroll.
What payment options does The Lakeside Collection offer?
The Lakeside Collection offers several payment options to its customers, including credit cards such as Visa, MasterCard, American Express, and Discover. Customers can also use PayPal to make their purchases. Additionally, The Lakeside Collection provides the option of paying with a Lakeside Collection Credit Card, allowing customers to earn rewards and benefits with their purchases.
Can you make payment to a collection agency?
Yes.
Why there is delayed payment of workers?
no collection from contractor
Can a collection agency refuse to accept a check or money order for payment?
Generally any payment you send will be applied to your account. However if you are trying to send less than what you owe and marking it as "payment in full" or something similar it will more than likely be returned to you.
In Arkansas can a collection agency sue you if the original creditor accepts payment on the debt?
If the debt was sold to a collection agency and the original creditor accepted payment AFTER the debt was sold, the money does not belong to them. If, however, you paid the debt and it was mistakingly sol after that payment, the collection agency can't try to collect. If you have proof of payment, forward it to the collection agency and deman in writing that they cease trying to collect this debt.
How do you pay a collection account?
Have the collection agency send a written agreement accepting the settlement or payment amount agreed upon BEFORE rendering any payment(s).
What is a collection situatoin?
A collection situation refers to the process of pursuing payment from a customer who has not made a payment as per the agreed terms. It typically involves contacting the customer to remind them of the outstanding payment and working to secure the funds owed.
What should be included in a debt collection demand letter?
A debt collection demand letter should include the amount owed, the reason for the debt, payment instructions, a deadline for payment, consequences of non-payment, and contact information for the creditor.
What are inward documents for collection?
The short versiion... bills that aresubmitted to a bank from another bank for collection and payment.
What is the purpose of sending collection demand letters to debtors?
The purpose of sending collection demand letters to debtors is to formally request payment for outstanding debts and to communicate consequences if payment is not made.
What happens when you stop payment on a check?
When you stop payment on a check, the bank is instructed not to honor the check if it is presented for payment. This can prevent the recipient from cashing the check and can protect you from unauthorized withdrawals from your account.
You had a credit card with Household Bank that went into collection you've been paying the collection company every month for 2 years but your balance keeps going up what can you do?
What is the Annual Percentage rate set at? Are you making more than the minimum monthly payment? Is the collection agency charging any monthly fees? If you are making a $10.00 a month payment and the finance charges are $8.00, only two dollars is being applied to wards the balance, each month. Check to see how much of your monthly payment is going to the finance charges and then increase your monthly payment to cover the minimum monthly payment and finance charges.
