What happens if you deposit or cash a check that includes a fraction of a cent?

Asked Jan 2, 2014· 1 answer
Faisal KhanAnswered Jan 2, 2014
Most banks today would not accept cheques beyond the defined two decimals digits, neither do the core banking softwares (most of them). The cheque would be returned as the LAR/CAR (Legal and Courtesy Amount Recognition) is invalid. This is strictly for cheques.
BanksRetail BankingCommercial BankingCore Banking Systems
Related in How Banks Work
Why do banks prohibit storing cash in safe deposit boxes, and how would they know?1 ansWhat happens to funds in forgotten or unclaimed bank accounts?1 ansDoes the money in bank accounts physically exist or only digitally?1 ansCan an illiterate person operating a current account issue a cheque using a thumbprint?1 ans