Definitions for certified cheque
cer·ti·fied cheque

Princeton's WordNetRate this definition:0.0 / 0 votes

1. certified check, certified chequenoun

   a check containing certification that the person who issued the check has sufficient funds on deposit to cover payment

WikipediaRate this definition:0.0 / 0 votes

1. certified cheque

   A certified check (or certified cheque) is a form of check for which the bank verifies that sufficient funds exist in the account to cover the check, and so certifies, at the time the check is written. Those funds are then set aside in the bank's internal account until the check is cashed or returned by the payee. Thus, a certified check cannot be stopped or bounce, and, in this manner, its liquidity is similar to cash barring bank failure or an illegal act (such as the funds being based on a fraudulent loan, at which point the check will be disavowed). In some countries (e.g., Germany), it is illegal for a regular bank to certify checks. This regulation is supposed to prevent certified checks from becoming a universal substitute for cash, which is considered the only legal tender. In the case of Germany, the Deutsche Bundesbank (Federal Bank) is the only financial institution authorized to issue certified checks. Because of the liquidity and certainty of payment of a certified check, it is sometimes considered equivalent to cash such as in the regulation of credit for casino gaming in Macau where the law explicitly states that, if a casino patron obtains casino chips and pays with a certified check, the transaction is not regarded as credit for gaming (see Law 5/2004, art. 2). It is possible to counterfeit or forge a certified check in which case it is not binding on the bank and is worthless; see cashier's check for an exploration of associated risks.

ChatGPTRate this definition:0.0 / 0 votes

1. certified cheque

   A certified cheque is a type of check for which the issuing bank guarantees that there will be sufficient funds available in the check holder's account when the recipient decides to use the check. The bank ensures the check's amount is set aside, marking the check as "certified", and thus, preventing the check holder from using the money for other things. This check is usually used in important transactions where the check receiver wants to be certain that he or she will get the money promised.

Matched Categories

1. • Check

How to pronounce certified cheque?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say certified cheque in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of certified cheque in Chaldean Numerology is: 4

2. Pythagorean Numerology

   The numerical value of certified cheque in Pythagorean Numerology is: 3

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=certified cheque
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Certified_Cheque
3. ^ ChatGPT
   https://chat.openai.com