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What is truncation of cheques?

Anonymous

∙ 7y ago

Cheque truncation (check truncation in American English) is when a physical (paper) cheque is converted into an electronic form for transmission to the paying bank over the internet. This basically avoids having to physically move the cheque between banks, etc.

Wiki User

∙ 7y ago

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the conversion of a physical cheque into electronic form for transmission to the paying bank

Wiki User

∙ 7y ago

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Related Questions

What is meant by truncation?

To shortenThe term truncation means shortness or cut off. An example of truncation is when a meeting or any scheduled convention has to be cut short for any reason.

What is truncation searching?

Truncation is a search method that allows you to find documents containing variations on a search term. To do a truncation search, type the first few letters (stem) of the keyword followed by an asterisk (*).

What methods can be used to deposit cash and cheques to a business bank account?

By usin cheques,it can be a cross cheques or open cheques

What is implied by truncation?

Truncation is used after the base or root of a word in order to include all the extensions of that particular word

What is cheque truncation?

A cheque is a money order A truncation is something that is cut short. The two words together make no sense.

How do you calculate truncation error?

The truncation error is the difference between two sides of an equation. Each side has an error value which can be compared.

What is truncation mutation?

Truncation mutation is a type of mutation that results in the premature termination of the protein synthesis process. This leads to the production of a truncated or incomplete protein which may be nonfunctional. Truncation mutations can have serious consequences on the structure and function of the protein.

Why cheques are not considered as part of money supply?

what is a cheques

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.

What is the meaning of Non Micr cheques?

Defination for NON-MICR CHEQUES

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.

How long does it take to clear travellers cheques?

travellers cheques do not have to be cleared, this only applies to regular cheques. travellers cheques are bought up front from a bank, so it is guaranteed cash to the person you are dealing with. If you should lose them or are stolen, the cheques are insured, so you will get your money back in a reasonable amount of time.

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