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A dishonoured check is one that the bank declines to pay the amount to the payee. When a check is returned unpaid, the drawee bank immediately sends a "Cheque Return Memo" to the payee banker, outlining the reasons why. These explanations can be broadly divided into three categories: fund-related, stop payments, and instrument defects, such as discrepancies in cheque date, amount, or signature, client account profiles, or unclear crossings or endorsements.
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Why the cheques are returned by the banks with a memo " on TO CLG. AvL OR AvI'
balkrishna
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2022-10-13T11:56:36+00:00 2022-10-13T16:12:15+00:00Comment
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