Home > Term: account-only check (US); collection-only check (US)
account-only check (US); collection-only check (US)
Cheque bearing the endorsement «for clearing only» or «for crediting only» or similar. Such cheques may not be paid out in cash but can only be credited to the beneficiary. The endorsement cannot be cancelled by crossing it out.
- Part of Speech: noun
- Industry/Domain: Banking
- Category: Investment banking
- Company: UBS
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Creator
- Stefan K
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