Cheque clearing (or check clearing in American English) or bank clearance is the process of moving cash (or its equivalent) from the bank on which a cheque is drawn to the bank in which it was deposited, usually accompanied by the movement of the cheque to the paying bank, either in the traditional physical paper form or digitally under a cheque truncation system. This process is called the clearing cycle and normally results in a credit to the account at the bank of deposit, and an equivalent debit to the account at the bank on which it was drawn, with a corresponding adjustment of accounts of the banks themselves. If there are not enough funds in the account when the cheque arrived at the issuing bank, the cheque would be returned as a dishonoured cheque marked as non-sufficient funds.[1]
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Chequeclearing (or check clearing in American English) or bank clearance is the process of moving cash (or its equivalent) from the bank on which a cheque...
the cheque has been issued. The person writing the cheque, known as the drawer, has a transaction banking account (often called a current, cheque, chequing...
The Cheque and Credit Clearing Company Limited (C&CCC) is a UK membership-based industry body whose 11 members are the UK clearing banks. The company has...
2010, for faster clearing of cheques. CTS is based on a cheque truncation or online image-based chequeclearing system where cheque images and magnetic...
location to exchange cheques and receive payment in money. This became known as central clearing. Bank customers who received cheques could deposit them...
numbers at the bottom of the cheque he wrote, so that they would be routed to the incorrect Federal Reserve Bank for clearing. This allowed him to work longer...
their biometrics. CTS is based on a cheque truncation or online image-based chequeclearing system where cheque images and magnetic ink character recognition...
agree to a target of 2018 for the closure of chequeclearing in the UK. It also announced that the cheque guarantee card scheme would end in June 2011...
transactions in the U.S. Bankers' clearing house ChequeclearingClearing House (EU), an EU intelligence body Clearing House Association, a New York trade...
will use a MICR reader to sort cheques by bank and send the sorted cheques to a clearing house for redistribution to those banks. Upon receipt, the banks...
transferable, and providing for electronic presentation of cheques in inter-bank chequeclearing systems. In India, during the Mauryan period in the 3rd...
operated the 'town clearing', where cheques cleared the same day between the 'town' bank branches in central London. Town clearing had been the forerunner...
current service portfolio includes the following: eSPICK – The national chequeclearing system of Malaysia. JomPAY – A payment scheme for paying utility bills...
for Payment Clearing Services (APACS) to support the systems behind UK payments, such as Bacs, CHAPS and the Cheque and Credit Clearing Company. APACS...
Sub-Committee of the Committee of London Clearing Bankers was formed in the late 1950s to consider the automation of cheque-clearing. The committee set up a New Services...
another work Chequeclearing, the process of transferring value on a cheque from one bank account to another The activity of a clearing house (finance)...
An automated clearing house (ACH) is a computer-based electronic network for processing transactions, usually domestic low value payments, between participating...
Clearing bank may refer to: Clearing (finance), a bank that participates in the system to clear (finalize) financial transactions Cheque and Credit Clearing...
sale of foreign bank drafts and international traveler's cheques; and foreign chequeclearing. It also provides related products and services, such as...
standards governing payments clearing and settlement within Australia. Payments systems covered by AusPayNet's rules include cheques, direct debits and credits...
software, which originated with banks and postal systems (to automate chequeclearing and mail sorting) but eventually became personal productivity software...
transactions. The charges for clearing Eurocheques were substantially lower than those for cross-border use of domestic cheques. Although still accepted as...
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