encash
/ɪnˈkaʃ
/ /ɛnˈkaʃ/verb [with object] British
Convert (a cheque, money order, bond, etc.) into money: after the payment of one year’s contribution you may encash your bond at any time...
- Some products will subsequently offer investors similar maturity ‘windows’ during which they are guaranteed to receive the capital they invested, should they decide to encash the bond.
- Customers will be able to deposit cash and cheques, and to encash personal cheques up to the value of their cheque guarantee card.
- He encashed a cheque and when he started distributing the cash to the staff members present in the bank he found some was missing.
Derivatives
encashable
- In order to sell the policies people are led to believe that the policies are encashable upon diagnosis of the disease.
encashment
/ /ɛnˈkaʃm(ə)nt / noun ...- The umbrella approach ensures flexibility, but incurs tax on all the investments in the portfolio on encashment, regardless of the number of funds being cashed in.
- The firm will be hoping that the move, which will reduce the value of any encashments by 10 per cent, will encourage investors not to withdraw their cash.
- It provides tax-free investment growth but applies an exit tax of standard rate, plus 3 per cent on any gain realised on encashment.