Describing anything pertaining to, associated with, or arising from the use, processing, or management of physical or electronic checks. This encompasses activities such as writing, depositing, endorsing, verifying, clearing, or disputing checks. It also covers systems, software, and processes involved in these actions. Furthermore, it may refer to legal and financial instruments pertaining to bank payments and money transfers. Its core concern is with secure and accurate financial transactions.
Check-related meaning with examples
- The bank implemented a new fraud detection system with advanced algorithms, resulting in significantly improved 'check-related' security measures, reducing the risk of fraudulent transactions. This allowed for efficient and secure management of incoming checks and the processing of payments.
- During the audit, the internal review team identified several issues in the company's 'check-related' reconciliation processes, leading to recommendations for stricter controls and enhanced record-keeping to improve financial integrity and transparency in dealing with all received checks.
- Due to the shift in the company's payment methods, the department has experienced significant changes. The new process simplifies the 'check-related' paperwork and also helps the department meet regulatory demands, increasing accuracy and efficiency in the money flow.
- The investigation centered on the 'check-related' discrepancies found by the company’s investigators, which indicated a potential embezzlement. The authorities would need to find the paper trail, looking at canceled checks, and then work out who cashed them.
- As a result of changing consumer behavior, the bank started transitioning from a 'check-related' service to more digital payment methods, introducing mobile banking options, and reducing dependency on traditional paper checks and other bank checks.