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Meredith
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A truncated cheque is a cheque converted into electronic form. Cheques are scanned and the electronic image is then transmitted to the paying bank. Substitution of the physical cheque speeds up cheque processing and saves costs. The drawee bank may demand further information from the bank holding the truncated cheque in the case of suspicion of any fraud. Presentment of the cheque itself may be required for verification.
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