The process of reconciling cheques between banks is termed cheque?

The process of reconciling cheques between banks is termed cheque clearing. Cheque clearing refers to the process of transferring funds from the bank account of the payer to the bank account of the recipient when a cheque is used as the payment method. This process involves a series of steps that verify the authenticity of the cheque, verify that the account of the payer has sufficient funds to cover the cheque amount, and transfer the funds from the payer's account to the recipient's account. Once the cheque has been cleared, the funds become available for the recipient to use.