You will need to provide your full name as per Bank's records, your bank account number and your contact number at the back of the cheque before depositing it at our Quick Cheque Facilities. Search check deposit and thousands of other words in English definition and synonym dictionary from Reverso. If you have to deposit checks in excess of predetermined bank limits, you have the option to visit a branch or ATM to facilitate the transaction.”. to pause or cause to pause, esp. Checking deposit definition: a deposit on which cheques may be drawn | Meaning, pronunciation, translations and examples If you do so, you’ll pay dearly. A Red Ventures company. Both the drawer and payee may be natural persons or legal entities. In the banking industry, you may hear this digital transaction referred to as “remote deposit capture.” Not only is this a convenient process, but it’s also safe. Just like a regular check, your bank can place a hold on the funds that you deposit via your smartphone. n. 1 a bill of exchange drawn on a bank by the holder of a current account; payable into a bank account, if crossed, or on demand, if uncrossed. That number may range from a few thousand dollars to well over $100,000. Our experts have been helping you master your money for over four decades. Cheques are order instruments, and are not in general payable simply to the bearer as bearer instrumentsare, but must be paid to the payee. Of course, it’s risky to walk around with large amounts of cash because that money can be lost or stolen. We are an independent, advertising-supported comparison service. With a jam-packed schedule of activities and responsibilities to fill your day, the last thing you want to add to your to-do list is a trip to the bank. verification conducted by police to find out if a person has a criminal record or not. Get the latest news and gain access to exclusive updates and offers. Deposit slips: You might need to fill out a deposit slip when you deposit a paper cheque. If you’re in that group, a prepaid card might be a good alternative: Some cards allow you to make mobile cheque deposits to add to your balance, which helps you store the money safely. ©2020 Reverso-Softissimo. However, it’s risky to take cash and spend it before you know that a cheque is good—if the cheque bounces, you’ll have to repay your bank for any money you take. With mobile deposits, you should also check the “mobile deposit” box. If the person or company that wrote you the cheque doesn’t have enough money to cover the payment, your bank might charge you fees—even though it wasn’t your fault. In some countries, such as the US, the payee may endorse the cheque, allowing them to specify a third party to … Overall, taking advantage of the mobile check deposit feature at your bank can be a big time saver. You have money questions. Amaze your friends with your new-found knowledge! Endorsement: You typically need to endorse a cheque by signing your name on the back of the cheque.