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 In the latter case, money may be withdrawn in cash by a person or company writing out a cheque payable to themselves.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 In the latter case, money may be withdrawn in cash by a person or company writing out a cheque payable to themselves.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 ?
Judge Al Hakam said the legal order has brought much relief to judges because before it came about, they would be busy looking into thousands of bounced cheque cases in the one-day-court which deals with minor offences.
The electronic cheque clearing (ECC) system processes cheques above QR250,000 on a real-time basis, whereas cheques below QR250,000 are processed in a batch on net basis by the end of the clearing day.
It was also agreed that he could send a couple of cheques - one post dated.
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.
The defence lawyer told the court that "aside from the fact that the partnership was ended amicably, there was no criminal intention behind the cheque".
There is a small acknowledgement note between him (Habibul) and me on the payment through the cheque that was signed by him,' he said, noting that Habibul was a client of 12 years.
A data issued by Interior Division on Wednesday revealed that during year 2016, Capital Police registered 1033 cases of cheque bouncing under section 489-F PPC, out of which 980 challaned, 51 cancelled, 980 accused arrested and 930 persons were granted bail by respective courts.
The workshop identified proposed improvements to the current cheque verification process, specifically how changes could be made to limit incidences of fraud and support the nation's move towards becoming a cashless society.
Moreover, UBF plans to organize further programs to confirm execution of this initiative with the aim to combat cheque fraud in the banking industry.
A few years ago, the government made writing a bad cheque a serious crime, and last week a former senator was sent to jail over a matter that began when she, as a Member of Parliament, wrote a series of cheques when she did not have enough funds in an account.CHANGING FACEDuring my banking career, I saw two types of cheques disappear.
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 33.9 billion, was registered in bounced cheques, accounting for 4.5 per cent of the total value of cheques during the monitored period, and around 4.2 per cent of the total number of cheques registered by the system through its images during the first six months of the year.