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A crossed cheque generally is a cheque that only bears two parallel transverse lines, optionally with the words 'and company' or '& Co.' (or any abbreviation of them) [clarification needed] on the face of the cheque, between the lines, usually at the top left corner or at any place in the approximate half (in width) of the cheque. [2]
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.
A bearer check is payable to anyone who is in possession of the document: this would be the case if the cheque does not name a payee, or is payable to "bearer" or to "cash" or "to the order of cash", or if the cheque is payable to someone who is not a person or legal entity, for example if the payee line is marked "Happy Birthday".
A canceled check has processed and the bank has paid for it. After the transfer, the bank marks the check as "canceled," which means that it's no longer valid.
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For example, a merchant 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 perform another MICR sort to determine which customer's account is charged and to which branch the cheque should be sent on its way back to the customer.
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Cross-checking, an infraction in the sport of ice hockey and lacrosse. Cross-check (chess) , a chess tactic of blocking a check with a check to force the exchange of pieces The Interstate Voter Registration Crosscheck Program , a former voter registration list maintenance program in the United States