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What does encashed mean?

Looking for the meaning or definition of the word encashed? Here's what it means.

Verb
  1. simple past tense and past participle of encash
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Examples
He encashed a cheque and when he started distributing the cash to the staff members present in the bank he found some was missing.
If you aimed to invest for 10 years, the fund could then be encashed to pay for the children's third-level education.
You should have your policy revalued by the life company and produce this valuation when it is encashed and the tax falls due.
She had paid her rent, however, and checks with her bank indicated that the cheque had been encashed fairly promptly too.
When the investment is encashed, the investment growth is liable for one tax only.
Indeed, had more investors paid attention to the company's poor performance, they may well have encashed their policies long before it ran in to trouble.

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