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- Cheque truncation (check truncation in American English) is a cheque clearance system that involves the digitization of a physical paper cheque into a substitute electronic form for transmission to the paying bank. The process of cheque clearance, involving data matching and verification, is done using digital images instead of paper copies. Cheque truncation reduces or eliminates the physical movement of paper cheques and reduces the time and cost of cheque clearance. Cheque truncation also offers the potential reduction in settlement periods with the electronic processing of the cheque payment system. (en)
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- 10031 (xsd:nonNegativeInteger)
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- Front view (en)
- Rear view (en)
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- (en)
- Example of a US truncated cheque (en)
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- Subcheck BACK.png (en)
- Subcheck FRONT.png (en)
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- Cheque truncation (check truncation in American English) is a cheque clearance system that involves the digitization of a physical paper cheque into a substitute electronic form for transmission to the paying bank. The process of cheque clearance, involving data matching and verification, is done using digital images instead of paper copies. (en)
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