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What is open cheque?
Open cheque - An open cheque is one that can be taken to the bank that issued the cheque and converted to cash right away. The bank will ask proof of identity from the person cashing it to ensure that they are paying the correct person to whom the cheque was issued to Crossed cheque - A crossed cheque is also called an account payee cheque. This is a cheque that can be cashed only by depositing it into a bank account of the person who received it. It cannot be directly converted to cash.
Can partner deposit personal cheque in firms account?
no
How long do rbs take to clear a check?
It depends on the bank and branch that issued the cheque you are depositing. If the cheque is issued by RBS and that too the same branch where you hold an account, the cheque can be cashed within one day. If the cheque is issued by a different bank and in a different city, it may take as much as 2-3 business days.
How do you translate 'cheque account' into Afrikaans?
'Cheque account' in Afrikaans is 'tjekrekening'.
How do you cash a crossed cheque with no account?
You cannot. A Crossed Cheque is also called an Account Payee Only Cheque which means that, this cheque cannot be cashed directly. It can only be deposited into the bank account of the person to whom this cheque is issued. So, the only way you can cash the cheque is by opening a bank account (or using your existing bank account) and deposit this cheque.
What is a bearers cheque?
a bearer cheque means a cheque which can be encashed across the counter of the bank branch on which it is issued and no need of depositing it into account.
Can you deposit a check made out to cash?
Yes we can make this by depositing the cheque in our account
What is the meaning of managers check?
A manager's checque is a cheque you bought from the bank at the value you asked the bank for. And since you bought it from the bank, you have paid cash up front for it. The manager's cheque can be named to a person or firm you want it to be named for, and the receiving bank will ask for the persons identity before cashing or depositing it. But the main thing is, you have paid or lost your money to the bank. A personal cheque is a cheque against your account at the bank where you have a deposit. when you issue a personal checque from your chequing account, the account only gets debited when the person you named the checque to use the checque by depositing it to his account. In effect the velocity of losing money is the difference. In the manager's cheque you pay the bank uprfront, in a personal cheque only when the receiving person deposits the cheque to his account does your deposit get debited. some minor difference --- in a manger's checque you pay the bank for issuing the cheque - maybe a transaction fee of Php 100 or US$2. In a personal Cheque, you do not need to shell out any other payment but you do have to have a checquing account at the bank and a maintaining balance for the checquing account. If the manager's checque get's lost, you lose you money unless you report it to the bank and ask for a replacement, wherein some banks asks for affidavit of lose and other legal papers. A personal cheque when it get's lost you just report it to the bank and they will cancel that serial number so the checque would not be honored anymore.
Can partner deposit personal cheque in firms account?
no
What is open cheque?
Open cheque - An open cheque is one that can be taken to the bank that issued the cheque and converted to cash right away. The bank will ask proof of identity from the person cashing it to ensure that they are paying the correct person to whom the cheque was issued to Crossed cheque - A crossed cheque is also called an account payee cheque. This is a cheque that can be cashed only by depositing it into a bank account of the person who received it. It cannot be directly converted to cash.
Where do you cash a bank cheque given to you by somebody else?
You can cash a bank cheque given to you by someone else at the issuing bank where the cheque was drawn. If you do not have an account there, you may be charged a fee for cashing it. Alternatively, you can deposit the cheque into your own bank account, and the funds will typically be available after the bank processes it. Always ensure to verify the cheque for authenticity before cashing or depositing.
Can two individuals with separate accounts have both of their names on a cheque without having a joint account?
Yes, two individuals can have both of their names on a cheque without having a joint account by using a "payable to order" cheque. This allows the cheque to be deposited into either person's account, even if they are not joint account holders.
What is the minimum balance in sbh account?
Its Rs 1000/- for a savings account with cheque book....Rs 500/- for savings account without a cheque book !
In accounting what is balancing the accounts?
Its Rs 1000/- for a savings account with cheque book....Rs 500/- for savings account without a cheque book !
How long do rbs take to clear a check?
It depends on the bank and branch that issued the cheque you are depositing. If the cheque is issued by RBS and that too the same branch where you hold an account, the cheque can be cashed within one day. If the cheque is issued by a different bank and in a different city, it may take as much as 2-3 business days.
Are personal cheque book issued in 2005 usable?
Yes, so long as the account is still 'open' and has funds to cover the amount of the cheque.
What is clg in banking?
CLG is a commonly used acronym in the banking industry which refers to "Clearing". It is a term which is used to signify that a bank is processing a financial instrument for payment. For ex: If you deposit a cheque in your bank account, it will be sent for "Clearing" to the cheque issuer bank and once the issuer bank processes it and sends the money, your bank will credit the money into your account. In the time between you depositing the cheque and receiving the money, the cheque is said to be in "Clearing" status.
