Cheques

A cheque (or check) is a document containing an unconditional instruction to pay the amount of the cheque to the person indicated on the cheque or the bearer of the cheque. The drawer orders the drawee to debit his account.

A cheque can be effected by encashment or by collection.
The encashment of a cheque is a banking transaction where the presenter of the cheque transfers the rights under the cheque to the cashing bank by way of endorsement in exchange for the payment of the amount of the cheque or the equivalent of that amount. The payment is made immediately upon presentation of the cheque for clearing.

The collection of a cheque is a bank transaction where the presenter of the cheque transfers the rights under the cheque to the collecting bank by way of endorsement in exchange and the payment for the cheque is effected when the amount of the cheque, less any commission and bank charges, is received from the payer of the cheque.

There are the following types of cheques:

• Bankers’ cheques issued by a bank;
  
• Bankers’ cheques made by a non-bank (a private person);
  
• Travellers cheques;
  
• Certified cheques;
  
• Treasurer’s cheques.

The following payment documents play the role of cheques in international dealings: Money Orders, Post-Giro Checks, U.S. Postal Money Orders etc.

Nordea Bank Polska S.A. offers full service of cheque transactions in international dealings, including the encashment, collection and sale of cheques.

• Bankers’ cheques payable by Nordea Bank Polska SA;
• Bankers’ cheques payable by other banks being the Bank’s correspondent banks and the cheque drawing transaction is advised by them;
• American Express Bank Ltd. travellers cheques;

Cheques which do not meet the encashment requirements are accepted for collection.

Nordea Bank collects cheques from customers holding their accounts with a branch of the Bank for at least 6 months and whose reliability is confirmed by a study of current movements on the account and the history of the banking relationship with them.

In case of the encashment of cheques, the payee does not have to hold an account with a branch of the Bank.
Bankers’ cheques issued and payable by the Bank are effected free of charge.

In case of the encashment of cheques, the payee does not have to hold an account with a branch of the Bank.
Bankers’ cheques issued and payable by the Bank are effected free of charge.

Nordea Bank Polska S.A. sells the following types of cheques:

• Bankers’ cheques issued on the Bank’s own cheque forms;
• Bankers’ cheques issued on the Bank’s correspondent banks’ forms in USD, EUR and GBP;

The Bank has its own bankers cheques made in all the convertible currencies included in the Bank’s Table of Exchange Rates for Non-Cash Transactions.

Nordea Bank Poland has entered into agreements with its correspondent banks for the issuance of cheques based on eletronic payment instructions an „PAY BY CHEQUE”. The cost of this service in Nordea Bank Polska S.A. is the same as this for requests for transfer executed through any of the available electronic channels. However, owing to certain limitations resulting from procedural conditions, the service is not available in every case nor does is it always consistent with the ordering party''s expectations.

If you should have any questions, please, call our Call Centre at 801 667 332 (801 NORDEA) or inquire in the nearest branch office of Nordea.