Types of Cheques in banks - What kind of cheque you want
A cheque is an unconditional order addressed to a banker,signed by the person who has deposited money with a banker,requesting him to pay on demand a certain sum of money only to the order of certain person or to the bearer of the instrument. Types of Cheques Bearer Cheque - The cheque in which the payment is made to any person who presents the cheque to the bank. Or Bearer cheque are the cheques which withdrawn to the cheque's owner.These types of cheques normally used for cash transaction. O rder Cheque - The cheque in which the payment is made only to the person whose name is specified in the cheque. Or Order cheque are the cheques which is withdrawn for the payee(the cheque withdrawn for whose person).Before withdrawn to that payee,banks cross check the identity of the payee. Crossed Cheque - Crossed cheque means that the two transverse parallel lines are made on the face of the cheque, to give a better title to the holder of the cheque. Su...
