Definition of encashment noun from the Oxford Advanced Learner's Dictionary

 

encashment

 noun
noun
BrE BrE//ɪnˈkæʃmənt//
 
; NAmE NAmE//ɪnˈkæʃmənt//
 
[uncountable, countable](British English, formal)
 
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the act of exchanging a cheque, etc. for money Penalties may be charged for early encashment of the policy.