bank cheque

bank cheque
A cheque which is payable by a bank itself, as opposed to an ordinary cheque payable only out of the funds of a particular customers account. A bank cheque is normally obtained by a bank customer (by paying its face value), the point is that the person receiving the cheque has the security of knowing its payable by the bank and thus cannot bounce (not so long as the bank is solvent).

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  • bank cheque — ➔ cheque * * * bank cheque UK US UK (US bank check) noun [C] (also bank draft, UK also banker s draft) ► BANKING a cheque that is signed by a bank and that is certain to be paid. You can use a bank ch …   Financial and business terms

  • bank cheque — noun An order to pay issued upon a bank • • • Main Entry: ↑bank …   Useful english dictionary

  • bank cheque — / bæŋk tʃek/ noun a bank’s own cheque, drawn on itself and signed by a bank official …   Dictionary of banking and finance

  • bank cheque — /ˈbæŋk tʃɛk/ (say bangk chek) noun a cheque issued by a bank in its own name …  

  • cheque — [tʆek] , check noun [countable] BANKING 1. a printed form that you use to pay for something instead of using money. You write on it the amount in words and numbers, the date, the person being paid, and sign your name: • a cheque for £200 …   Financial and business terms

  • Bank fraud — is the use of fraudulent means to obtain money, assets, or other property owned or held by a financial institution. In many instances, bank fraud is a criminal offense. While the specific elements of a particular banking fraud law vary between… …   Wikipedia

  • Cheque truncation — (check truncation in the United States) is the conversion of physical cheque into electronic form for transmission to the paying bank. Cheque truncation eliminates cumbersome physical presentation of the cheque and saves time and processing costs …   Wikipedia

  • Cheque — A Canadian cheque …   Wikipedia

  • bank draft — a written instruction to a bank s agent to pay a sum of money to the person specified on the draft. A safe and convenient way of remitting money overseas. Glossary of Business Terms A draft addressed to a bank. Bloomberg Financial Dictionary * *… …   Financial and business terms

  • Bank draft — A draft addressed to a bank. The New York Times Financial Glossary * * * bank draft ˈbank draft also ˈbanker s draft noun [countable] BANKING a cheque written by a bank and therefore certain to be paid. A customer can use a bank draft to pay… …   Financial and business terms

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