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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]
The law rules that payments in cash cannot exceed 6,000 NIS, so cheque payment is a legal term when that maximum is reached. It was possible to pay at the cash desk at the supermarket or shop by cheque or issue a check for annual school payments for a child.
I'm guessing that a "crossed check" is a check made out to A, signed by B, which A then endorses or "signs over" to C -- so C wants to cash a check made out to A. --- OtherDave 11:36, 1 October 2008 (UTC) Crossed cheques (checks) are a British weirdness.
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.
Paper checks, though not used daily as much as they used to be, are still a necessary part of making payments and managing your checking account in many ways. Online banking has made digital...
The cashier’s check is then a legal and valid form of payment. Securely store your check until you plan to use it. Once your cashier’s check is in your hands, treat it like cash.
Such warrants look like checks and clear through the banking system like checks, but are not drawn against cleared funds in a checking account (demand deposit account). Instead, they may be drawn against "available funds" or "out of fund 0027" so that the issuer can collect interest on the float or delay redemption.
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