What does "encashment" mean?

The act of encashing; the exchange for money of a check, draft, etc.

What is a synonym for "encashment"?

Common synonyms include: cashing.

noun

noun ·Rare ·Advanced level

Noun

1
The act of encashing; the exchange for money of a check, draft, etc. countable, uncountable
"encashment of earned leave"

From encash + -ment.