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[4] ) Describe what is involved in the clearing of bank cheques which the bank has collected in the course of the day. Plz any answer need it quickly help me if you know
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[4]

) Describe what is involved in the clearing of bank cheques which the bank has collected in the
course of the day.


Plz any answer need it quickly help me if you know

User Cookie Ninja
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1 Answer

11 votes

Answer:

The clearing process begins with the deposit of a cheque in a bank. ... The cheque is passed for payment if the funds are available and the banker is satisfied about the genuineness of the instrument. The cheques that are unpaid are returned to the presenting bank through another clearing called the Return Clearing.

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User Robinvrd
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