Wednesday, September 21, 2016

Types of cheque

(1)Bearer cheque: A bearer cheque is that which can be cashed for the bank by the bearer of the cheque. Any person who is in possession of a bearer cheque can cash it without any difficulty.
(2)Order cheque:  A cheque which is paid to a named person with the words 'or order' after the payee's name, showing that he or she can endorse it and pass it to someone else if desired
(3)Crossed cheque: A cheque which contain two transverse parallel line across to its face.
(4)Certified cheque: The cheque which is approved by the manager is known as certified cheque
(5)Ante dated cheque: If the date mentioned in the cheque is past dated other the present time, it is called ante dated cheque
(6)Post dated cheque: A post-dated cheque is a cheque issued with a written date in the future or dated after the date of issue.
(7)Stale cheque: If the cheque is not encashed within 180 days after issuing it, then it will be stale cheque