| 单词 | cheque truncation |
| 释义 | cheque truncation cheque truncation The conversion of a paper cheque into a digital reproduction, so that it can be transmitted electronically to the drawee bank rather than being presented physically. This may also involve the creation of a substitute cheque or image replacement document: a paper reproduction that serves as a complete legal substitute for the original cheque, provided that it contains a legible image of both sides of the instrument and all the original MICR information. Cheque truncation has been legally possible in the UK since 1996 and in the USA since 2004. |
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