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Definition of 'Check Safekeeping'
A safekeeping service offered by banks and other depository institutions. With check safekeeping, the bank holds all of a customer's cancelled checks (or at least a copy of them) and does not return them to the parties that wrote the checks. Instead, the customer is sent a detailed statement outlining all checks that were paid, plus the amounts and names of the payees.
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Investopedia explains 'Check Safekeeping'
Check safekeeping is typically done to reduce the expense of labor and postage that comes with mailing printed statements. The actual checks are often transcribed to microfilm or computer and then shredded. This service is also referred to as check retention.
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Search results for 'Check Safekeeping'
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http://www.investopedia.com/articles/pf/08/trust-basics.asp
... Trusts are often used for the safekeeping of their assets until they can take full
title. ... (For related reading, check out Encouraging Good Habits With An ...
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http://www.investopedia.com/university/banking-system/banking-system3.asp
... The largest source by far of funds for banks is deposits; money that account holders
entrust to the bank for safekeeping and use in ... (For more, check out Are ...
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http://www.investopedia.com/articles/03/012403.asp
... shares of ABC at $10, the principal firm would first check its own ... America, the
institution handling the vast majority of clearing and safekeeping duties is ...
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http://www.investopedia.com/university/estate-planning-guide/estate-planning3.asp
... document known as the healthcare directive. You should check with the ... Finalization,
Letter to Surrogate and Safekeeping In finalizing of your healthcare ...
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http://www.investopedia.com/articles/retirement/08/trust-company.asp
... Your Trustee?) Financial and Trust Services Trust companies also can provide
safekeeping services within ... You don't have to check your values at the door when ...
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http://www.investopedia.com/articles/basics/03/051603.asp
... in bearer form or registered form, which means you are responsible for the safekeeping
of the ... You don't have to check your values at the door when investing in ...
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