What's the Bank’s Remarks on Dishonoured Cheques
Posted by Ripon Abu Hasnat on Sunday, June 8, 2014 | 0 comments
When a cheque is returned unpaid, the banker should attach a slip containing brief remarks, to convey the reason for dishonouring the cheque. The following remarks are generally made:
(a) R.D. (Refer to Drawer): This remark is used only when there is reasonable ground to suspect the veracity of the cheque.
(b) N.S. (Not sufficient), N.E. (No. Effects): These are used where the drawer’s balance is inadequate to meet the cheque.
(c) E.I. (Endorsement Irregular)
(d) E.N.C. (Effect is not cleared): This is used when cheques deposited are not yet collected and not available for withdrawal.
You can subscribe by e-mail to receive news updates and breaking stories.
0 comments for "What's the Bank’s Remarks on Dishonoured Cheques"
Leave a reply