What are the reasons for cheques being returned unpaid? Your bank will decline to pay a cheque issued by you due to the following reasons: Insufficient funds in your account to clear the cheque Missing signature(s) Signature(s) differ from specimen...
Under what circumstances can a current account be closed? An account can be closed under the following circumstances: On accountholder's request Accountholder must provide a written request and return any unused cheque leaves for cancellation On...
What are the parts or elements of a cheque? It is important for you to know the elements of a cheque to ensure that the cheque is properly written since a duly completed and signed cheque acts as an authority to the drawee bank to withdraw...
