What is a cheque
A check is a paper tool that instructs you to pay money from a bank account. When you issue a check, you are the payer and the recipient of the check becomes a creditor.
Checks are valid for 6 months from the date stated on the check unless the check specifies a shorter period.
How long does it take to clean the controls
When you deposit a check into your account, your bank sends a picture of the check to the payer’s bank. The purpose is to collect the amount of the check to be credited to your account. This process is known as check clearing.
Things to consider
- Checks are only cashed from Monday to Friday. The cut-off time for checks is usually 3:30 p.m.
- Checks deposited on Saturday and Sunday will be sent to the liquidation of the checks on Monday or the next working day.
To write a check
When issuing a check, keep the following in mind
Make sure you have enough money
If your account does not have enough money, your check will be rejected. You may have to pay fees:
- Transportation or administration fee for the reimbursement of the check
- Overdraft interest to cover the bank’s loss of interest overnight
Pass your check properly
Check only for the creditor (non-transferable
- Pass the control by drawing two parallel lines in the top left corner of the control.
- Cancel the check or carrier and add Account Recipient Only A / C Payee Only
For cash checks
- Do not exceed your check
- Do not delete the words “or carrier” in the check
Write the name of the payee clearly
Use dark permanent ink and draw an additional line after the name.
Write the right amount
Write the amount in words and then “only”. Cut out extra spaces by drawing a line
- Write the quantities in numbers in the field. Must match the quantity written
- The decimal point should be seen
- Check all the details before signing
- Never sign checks beforehand.
- Avoid using simple tattoo signatures
- If you change your check, fully register against the change
Avoid writing dated checks
Outdated checks cannot be deleted immediately. When checks are returned, transaction fees apply.
If you want to stop a payment
Notify your bank immediately. You can only stop a regulated check payment if it has not been approved or borrowed. The bank can charge an administration fee.
What happens if a check is returned free of charge
If you are a believer
You will not be paid. Instead, your bank will send you a check return document (IRD) and a return check recommendation with instructions on whether you can resend it to the same bank to clear the IRD.
When you pay
If you don’t have enough money in your account, check that what you wrote is failing. For the reimbursement of interest fees for checks and sight deposits (OD), you must pay a transaction or administration fee to cover the bank’s loss of interest overnight.
Please contact your bank for details.
How can you track your transactions
Keep a record of every check you have written on the check counter slide (or save the checkbook of your checkbook. This can help you keep track of the total amount you paid.
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