The total amount for a credit responsibility that the loan provider not any longer expects to be paid back and writes down as being a debt that is bad. See also Charge Off.

The total amount for a credit responsibility that the loan provider not any longer expects to be paid back and writes down as being a debt that is bad. See also Charge Off.

A written purchase instructing an institution that is financial spend instantly on need a specified amount of cash through the check journalist’s account into the individual called from the check or, if a certain individual is certainly not known as, to whoever bears the check towards the organization for re re re re payment.

Always check 21 is really a Federal legislation that is made to allow banking institutions to manage more checks electronically, which will be meant to make check processing quicker and much more efficient. Check always 21 could be the brief title for the Check Clearing for the 21st Century Act, which went into influence on October 28, 2004. See additionally Check Always 21.

The transformation of information on a look at a digital image after a check gets in the processing system. Check truncation removes the requirement to get back canceled checks to customers. See additionally Always Check 21.

A demand deposit account subject to withdrawal of funds by check.

The ChexSystems, Inc. System is composed of user banking institutions that frequently add info on mishandled checking and savings reports to a location that is central. […]

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