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escompte / encaissement

English translation: deposit

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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?
Kajuco
United Kingdom
Local time: 18:19
English translation:deposit
Explanation:
Would seem to work here – deposit a foriegn currency cheque
Selected response from:

Sylvia Smith
Local time: 19:19
Grading comment
2 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1to discountBusterK
3depositSylvia Smith


Discussion entries: 6





  

Answers


7 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
deposit


Explanation:
Would seem to work here – deposit a foriegn currency cheque

Sylvia Smith
Local time: 19:19
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 214
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11 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
to discount


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: Native in FrenchFrench
PRO pts in category: 108

Peer comments on this answer (and responses from the answerer)
agree  rkillings: But you get the money in advance *less* the interest charged by the bank -- a key characteristic of discounting, and the reason for the name.
10 hrs
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