Tag Archives: crossed cheque

Name the main types of cheque

Name the main types of cheque 1. Bearer Cheque When the words “or bearer” appearing on the face of the cheque are not cancelled, the cheque is called a bearer cheque. The bearer cheque is payable to the person specified therein or to any other else who presents it to the bank for payment. However, such cheques are risky; this …

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What is crossed cheque?

What is crossed cheque? Crossing a cheque refers to the action where the person issuing the cheque makes two diagonal lines on the top left corner of the cheque. This means that this cheque can be paid only into an account and not to a person who wants to encash it to direct cash. The person, to whom the cheque …

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