Gefu Cheque Return Meaning Form
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People also ask gefu cheque return status
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What does cheque return reason refer to drawer mean?
Dear, REFER TO DRAWER" means that the cheque you have presented to your banker has not been honored and you need to refer the issue to drawer of the cheque. This happens when the drawer's bank account is short of funds and the cheque bounces due to insufficient funds. -
What does cheque return reason 05 mean?
This error is a generic bank response code that has several possible causes. However it does generally indicate a card error, not an error with your merchant facility. The '05' error indicates your bank declining the customer's card for an unspecified reason. -
What is the reason for cheque return?
Funds Funds Insufficient. Exceeds arrangement. Effects not cleared, present agarn. -
What happens when the cheque is returned?
A dishonoured cheque attracts penalty on the issuer of the cheque. It depends on the reason for the bounce. If a cheque is dishonoured because funds in the payer's account were insufficient, it is a criminal offence under the Negotiable Instruments Act of 1881. -
What is reason 5 for cheque return?
05 Kindly contact drawer/drawee bank and please present again. It can be easily understood from the reason because the reason is clear that you should contact the drawer of the cheque as a payee. -
What does cheque returned in clearing mean?
A returned check means that the check payment did not clear the bank account of the payer.
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