GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Direct Cheque Printers


Synonyms:custom cheques, print shop
Filed Under: financial-banking
Tags: banking
 

Definition of direct cheque printers

direct cheque printers
1. Printing companies that offer cheque printing services at lower prices (than most banks) to customers who use chequing accounts. Many of these printers are also printing cheques for banks that use outside printers. Customers must supply these companies with a voided cheque or a reorder form from a current batch of cheques and a deposit slip. Names and addresses must match with information on file at the account holder's bank.

Related Terms and Acronyms:

  • cheque book   A book with blank cheques. The cheques may be personalized or non-personalized.
  • cheque clearing   When you write a cheque to a person or a company, the cheque is typically cashed when deposited into a bank account. Your chequing account is then debited for the amount of the cheque and the cheque is said to have "cleared."
  • cheque hold   The length of time that a financial institution can legally hold a cheque before crediting a customer's account balance and allowing the customer to use the funds.
  • cheques returned with statement   Cheques that are cancelled are returned to the account holder in a monthly statement.
  • co-branded card   A type of affinity card issued through a partnership or alliance between a bank and another retail company. For instance, a large department store may co-brand a card with a bank. The card would have two brand names on it -- the bank's name and the store's name. Usually, the attraction of the card is special deals with the retail partner. Many -- particularly the ones affiliated with airlines that offer air miles -- are popular enough to command a hefty annual fee.

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