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Re: SeaOhToo post# 2703

Monday, 12/14/2015 2:57:28 PM

Monday, December 14, 2015 2:57:28 PM

Post# of 26153
Look up the definition of canceled checks if you dont believe the one i grabbed off of the internet.

One definition:
A check that has cleared the depositor's account and has been marked as "canceled" by the bank. A canceled check has been paid by the drawee bank and endorsed by the payee, the payee's bank, and the Federal Reserve Bank. Canceled checks can also be used as proof of payment.

another defintion:
A canceled check is a check that has already drawn funds on the designated account. In a bank statement, a customer may receive either his original canceled checks showing that these checks have been paid or copies of each. Usually, the institution from which the money is drawn, a bank, stamps the check to indicate funds guaranteed on the check have been given to the person or institution that received it.