cheque

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Check

A document in which the writer orders his/her bank to pay to the receiver of the check a stated amount of money. For example, Joe may write Andrew a check for $10. In doing so, Joe is signing a document stating that he wishes to give Andrew $10, that it is available in Joe's bank, and Andrew can receive it from there. Andrew can either go to Joe's bank, present the check, and collect $10, or he may go to his own bank to deposit the check into his own account. In that case, Andrew's bank contacts Joe's bank and collects the $10 that way. Checks can be for any amount. See also: Check hold.

cheque

a means of transferring or withdrawing money from a BANK or BUILDING SOCIETY current account. In the former case, the drawer of a cheque creates a written instruction to his bank or building society to transfer funds to some other person's or company's bank or building society account (the ‘payee’). In the latter case, money may be withdrawn in cash by a person or company writing out a cheque payable to themselves. See COMMERCIAL BANK.

cheque

a means of transferring or withdrawing money from a BANK or BUILDING SOCIETY current account. In the former case, the drawer of a cheque creates a written instruction to his or her bank or building society to transfer funds to some other person's or company's bank or building society account (the ‘payee’). In the latter case, money may be withdrawn in cash by a person or company writing out a cheque payable to themselves. Cheques may be ‘open’, in which case they may be used to draw cash, or ‘crossed’ with two parallel lines, in which case they cannot be presented for cash but must be paid into the account of the payee. See COMMERCIAL BANK.
References in periodicals archive ?
According to the Legal Order Law No 1 of 2017 which came into effect in December 2017, people with bounced cheques worth less than Dh200,000 can be punished by prosecution without the case being referred to the judges, with the payment of a maximum fine of Dh10,000.
The usage of cheques as an instrument for conducting transactions got reduced as high value transactions also are being conducted through the electronic medium, the Qatar Central Bank said in its 10th Financial Stability review.
He adds: "Due to clerical errors, both cheques were banked and the broker's bankers didn't notice the post-dated cheque and sent it for processing as usual.
In view of this, the CBN said it has become imperative for the bank to amend the implementation timelines of the revised NCS/NICPAS 2.0 as follows: the new and the old cheques shall run concurrently for 17 months from the above-mentioned implementation date, after which the old standard would be phased out; All cheques ordered after September 1, 2019 must conform to the new standard.
Muscat: Royal Oman Police (ROP) has called upon everyone to help prevent fraud by only accepting certified cheques. A certified cheque is one which is verified by a bank, guaranteeing that there are sufficient funds in the account to pay the agreed amount.
Summary: Court records showed that the defendants intentionally wrote two bad cheques for their former business partner.
Dvla currently receives and banks approximately 1.8 million combined cheques and postal orders per annum (approximately 36,000 cheques per week), as payment for various driver and vehicle service streams.
A: Habibul then instructed me to issue cheques to among others, his wife and his kids.
Counterfeit cheques currently expose banks, businesses and customers to financial, reputational and legal risks.
figure By BANKELELE This week we saw a story about Namibia phasing out paper cheques. A leading bank, FNB, reminded its customers that they have untill June 2019 to exhaust their cheque leaves, after which they will no longer be acceptable in banking.
Director NAB Amjad Majeed Aulakh was the chief guest and gave away cheques amounting to Rs 164.879 million to the representatives of different government and private departments.
AED 755 billion worth of cheques have been handled by the UAE's Cheque Clearing System during the first half of the year, according to an announcement by the UAE Central Bank.