noun
- plural of encashment; the act or process of converting a check, bond, or other financial instrument into cash
Usage: chiefly British and Commonwealth English; often used in banking and finance contexts
Examples
- The bank processed multiple encashments of traveler's checks during the holiday season.
- Encashments of savings bonds require proper identification and documentation.
- The company tracks all encashments of employee expense reimbursement checks.
- Quick encashments of insurance payouts help customers access funds promptly.
- The financial institution reported a significant increase in encashments last quarter.