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12:16 Mar 27, 2007
French to English translations [PRO] Bus/Financial - Finance (general) / microfinance
French term or phrase:escompte / encaissement
My problem phrase is:
"Escompte de chèque en devises : pour convertir vos avoirs extérieurs en monnaie locale à des conditions avantageuses"
I found this on the Net: (in http://www.agirpourlalgerie.com/khalifa.htm) "A titre d’exemple, la banque qui accepte l’escompte d’un chèque, crédite systématiquement le compte de son client (vendeur), avant de se faire alimenter par la banque de l’acheteur, ce qui peut prendre plusieurs semaines, contrairement à l’encaissement où elle ne crédite le compte du client qu’après avoir reçu de l’argent par la banque de l’acheteur, dont pourrait faire partie Khalifa Bank.
It seems to mean not "to cash" but "to transfer the money to the client's account before it has come out of the cheque-signer's account". Could someone clear this up for me? The difference between escompte and encaissement. Encaisser is "to cash", so what's escompter?
My question was about how DISCOUNT is used in English. I can't find anything on Google to suggest that it can be used as a verb with CHEQUES as the object, in the way ESCOMPTER does take CHEQUES as its object. I was trying to find out what vocabulary one uses in English to signify what BusterK and the Algerian text explained. I mean: encaisser = to cash; escompter = ?
OK, but I'm not quite clear. Is the formulation, eg, : "Come to us! We discount your foreign currency cheques!" or perhaps "Discounting of foreign currency cheques here!" Or would it have to be something like: "Come to us! We accept (foreign currency cheques, with a discount) (discounted foreign currency cheques)!" / "Foreign currency cheques accepted here (discount applies)"
And I don't see what's advantageous about these conditions, unless they're sayng that they charge less interest than other banks.
Dear BusterK, yes, that was explained in the Khalifa webpage. But what would the English be? Do we say "discount" for eg "Vous pouvez également escompter vos chèques en devises" = "you can DISCOUNT your foreign currency cheques here"? I've never heard that. And the noun, "Escompte de chèque en devises " = "DISCOUNTING foreign currency cheques"? It sounds as if they don't think much of them! It desn't convey "cash up front, minus a percentage" to me. But is that how it is used? I mean, in English, does the bank discount, or does the customer?
Automatic update in 00:
7 mins confidence:
Explanation: Would seem to work here – deposit a foriegn currency cheque
Sylvia Smith Local time: 19:19 Specializes in field Native speaker of: English PRO pts in category: 214
Explanation: this means that you get the money in advance from the bank, which will charge interest. However, if the bank does not finally receive the money from the customer you will have to reimburse it.
BusterK Local time: 19:19 Specializes in field Native speaker of: French PRO pts in category: 108