Definitions

1. verb

to exchange or convert something, especially a check or voucher, into money

“She decided to encash her gift voucher to buy a new phone.”

2. verb

to take or obtain cash, often by cashing a check

“He went to the bank to encash his paycheck.”

3. verb

to use or utilize something, especially an opportunity

“The company decided to encash on the recent trend in sustainable products.”

4. noun

the act of exchanging or converting something into money

“The process of encashment took several days to complete.”