encash
verb[T]
uk/ɪnˈkæʃ/ustoexchangeachequeor afinancialproductsuch as abondformoney:
If you encashyourinvestmentbefore the end of theterm, youpaya £30administrationfee.
encashment
noun[CorU]
Thebonuswill bepaidon encashment of thebonds.
Early encashments willresultin alowerrateofinterest.