encashment

Meanings

• Noun

  The act of converting a check, money order, or other negotiable instrument into cash.

  - "After receiving the check for the rent, she went to the bank to encash it."
  - "He encashed his paycheck at the local grocery store."

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Variants

List of all variants of encashment that leads to same result
encash , encashable , encashed , encashes , encashing , encashment , encashments

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Etymology

origin and the way in which meanings have changed throughout history.

Derived from the verb 'encash', which comes from the Old French word 'encaisser', meaning 'to receive money' or 'to put money in a chest'.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Encashment is a common term used in various industries, including banking, finance, and insurance.

2. The process of encashment involves several steps, including endorsing the check, presenting it to the bank, and receiving the cash or depositing it into an account.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Deposit: Encashment is the opposite of making a deposit, where one puts money into a bank account.

2. Check: Encashment involves cashing a check, which is a negotiable instrument that orders a bank to pay a specified amount of money to the person who possesses it.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Encashment has been a common term used in various forms of literature, particularly in financial and business contexts. It can also be found in poetry, where it is used metaphorically to describe the act of realizing one's dreams or aspirations.

How to Memorize "encashment"

1. visualize
   

   - Visualize a person going to the bank to deposit a check and then later withdrawing cash from the same account, representing the process of encashment.

2. associate
   

   - Associate the word 'encashment' with the idea of turning a financial instrument into cash.

3. mnemonics
   

   - Create a mnemonic using the acronym 'E-CASH', which stands for 'Encashment: Converting Assets into Hard Cash'.

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