cheque-return

Vocabulary Word

Definition

'Cheque-return' happens when a bank doesn't accept a cheque. This could happen for many reasons like there is not enough money in the person's account who wrote the cheque, the cheque is out of date, or the cheque is not filled in correctly.

Examples in Different Contexts

In banking terms, a 'cheque return' occurs when a cheque cannot be processed due to insufficient funds or incorrect information. A bank official might explain, 'A cheque return may result in a fee and requires immediate attention to resolve the underlying issue.'

Practice Scenarios

Accounting

Scenario:

There is an imbalance in the company's accounting statements. It's connected to some transactional issues we've met recently.

Response:

Could these transactional issues be related to cheque-returns? We should verify the recent bank statements.

Banking

Scenario:

The bank is seeing an unusual spike in unresolved transactions. We need to identify the cause quickly.

Response:

There's a possibility this is linked to cheque-returns due to technical errors. We should thoroughly investigate.