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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
^
38% - Moderately

Cheque


Synonyms:form, instructions to pay, note, promise of payment, written order
Acronyms &
abbreviations:
CK
Notes:Bank account transaction code.
Filed Under: bank statements, financial-banking
Tags: banking
 
Broadly associated with: [BMO Financial Group]
Narrowly associated with: [BMO Bank of Montreal]

Definition of cheque (CK)

cheque (CK)
1. A blank form that is used as a written order directing a bank or banker to pay money as therein stated. Cheques can be personalized or non-personalized.

Related Terms and Acronyms:

  • cheque book   A book with blank cheques. The cheques may be personalized or non-personalized.
  • cheque clearing   When you write a cheque to a person or a company, the cheque is typically cashed when deposited into a bank account. Your chequing account is then debited for the amount of the cheque and the cheque is said to have "cleared."
  • cheque hold   The length of time that a financial institution can legally hold a cheque before crediting a customer's account balance and allowing the customer to use the funds.
  • cheque register   A book or log where you can record the details of every transaction made in your chequing account.
  • cheques returned with statement   Cheques that are cancelled are returned to the account holder in a monthly statement.
  • chequing account   A bank account that allows quick access to the money in the account.
  • insufficient funds (ISF)   When funds are not enough to satisfy the payment of a cheque or draft made on that account; also known as non-sufficient funds (NSF).
  • payee   The name of the person to whom the money in a cheque is to go.
  • payor   One who makes a payment to another party.
  • void cheque   A check with the word "VOID" written on the face that cannot be cashed.

More Related Terms and Acronyms


Broad and Narrow Associations

[BMO Bank of Montreal]
  • Bank of Montreal (BMO) — Company Est.1817, Canada-wide, Very Important
      ➥  Canada's very first bank. A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages, and reverse mortgages.
  • foreign exchange (F/X, FE, FOREX, FX)Definition   Various instruments used to settle payments for transactions between individuals or organizations using different currencies (e.g., notes, cheques, etc.).
      ➥  Bank account transaction code.
  • certified cheque (CC)Definition   A cheque that a bank guarantees will clear.
  • other automated banking machine (OM) — Acronym, Low Relevance
  • other charge (DC) — Acronym, Low Relevance
[BMO Financial Group]
  • Bank of Montreal (BMO) — Company Est.1817, Canada-wide, Very Important
      ➥  Canada's very first bank. A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages, and reverse mortgages.
  • certified cheque (CC)Definition   A cheque that a bank guarantees will clear.
      ➥  Bank account transaction code.
  • foreign exchange (F/X, FE, FOREX, FX)Definition   Various instruments used to settle payments for transactions between individuals or organizations using different currencies (e.g., notes, cheques, etc.).
  • Bank of Montreal Mortgage Corporation (BMMC) — Company, Canada-wide
      ➥  A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
  • other automated banking machine (OM) — Acronym, Low Relevance

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