These cheques are relatively safe because they can be encashed only at the drawee’s bank. Cheque crossing is a secure way of making cheque payments in banking practice. Drawing two parallel lines across the face of the cheque, usually with the phrase “and Co.” or “Account Payee Only” written in between the lines, is how Cheque crossing is done. The Crossing on the cheque indicates that the cheque can only be deposited into a bank account and cannot withdraw money over the counter. A general crossing requires two parallel lines to be drawn on the cheque. These lines can be placed anywhere on the cheque, though it is common to place them in the top left corner.

Types of Cheques: Understanding the Different Variants for Better Financial Management

The banks need no other authorisation from the issuer to be allowed to make the payment. While cheques may seem old-school in a world of UPI and netbanking, they’re still widely used—especially for large transactions, rent payments, EMIs, or official documentation. Knowing your cheque number makes it easier to keep track of payments, flag any issues with your bank, or check your transaction history.

Can I write a cheque if I don’t have a bank account?

Post-dated cheques are considered to be less secure than other types of cheques because they can be lost or stolen and cashed before the due date. An order cheque is a type of cheque in which the payment is made to a specific person or entity. The person or entity named on the cheque, also known as the payee, is the only one who has the right to receive the payment.

Passport Fees in India

• Cheques are issued only to account holders, so anyone who wishes to use cheques first must open a bank account. A cheque older than 6 months is called a stale cheque however, they are still valid and can be used for transactions. Such cheques can only be issued to the person whose name is mentioned on the cheque, and the bank will do its background check to authenticate the cheque bearer’s identity before releasing the payment. The Facilities Provider, ABC Companies or any of its third party service providers and processor bank/merchants etc. shall not be deemed to have waived any of its/their rights or remedies hereunder, unless such waiver is in writing. No delay or omission on the part of Facilities Providers and ABC Companies, in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies.

Ante Dated Cheque

The cheque is negotiable from the date of issue up to three months. It turns stale after the completion of three months and needs to be revalidated before presenting to the bank. A cheque past its validity, three months after the date of being issued, is called a stale cheque. We offer a variety of current/cheque accounts, types of cheque in india fixed deposits and savings account designed to suit your personal banking needs. Your right to use the facilities is personal to you; therefore, you agree not to resell or make any commercial use of the facilities. In addition, the Website welcomes your feedback as a user of the facilities.

Home Loan

This makes it a reliable option for secure transactions between parties. A personal cheque is written by an individual from their bank account, requiring their signature. These cheques are commonly used for everyday expenses like rent, utility bills, and payments to freelancers. The validation process for certified cheques involves a few key steps. First, the payer requests a certified cheque from their bank, providing the necessary funds along with the cheque amount. The bank then verifies the payer’s account balance to ensure sufficient funds are available.

Only the name written on it can get the amount transferred to his account. You need a savings bank account or current account in a bank, in order to issue a cheque in your own name or in favor of others, thereby directing the bank to pay the predetermined amount to the individual named in the cheque. This transaction has to be handled very delicately as it may lead to some serious banking fraud.

You also acknowledge and agree that, unless specifically provided otherwise, these Terms of Use only apply to this Website and facilities provided on this Website. Once you finish the online bank account opening process, you’ll receive your cheque book shortly at your address. Remember to contact your bank if you don’t receive your cheque book after you open a savings account online.

• The three main parties involved are the payee (the person receiving the payment), the drawee (the bank responsible for making the payment), and the drawer (the person who writes the cheque).
• The Website may assign or delegate its rights and/or obligations under this Agreement to any other party in future, directly or indirectly, or to an affiliated or group company.
• The bearer cheque is a type of cheque in which the bearer is authorised to get the cheque encashed.
• Ante-dated cheque refers to that cheque which has in it a date earlier than the date on which it is presented to the bank.
• A cheque older than 6 months is called a stale cheque however, they are still valid and can be used for transactions.
• Nothing on the Website or information is intended to constitute legal, tax or investment advice, or an opinion regarding the appropriateness of any investment or a solicitation of any type.

Types of Cheques You Should Know

You can apply online for passport renewal but it needs to visit PSK/POPSK for verification. The charges for renewal of a passport in India must be paid online at the time of booking the appointment through the Passport Seva Portal. Once you fill out the application form and select your preferred Passport Seva Kendra (PSK) or Post Office Passport Seva Kendra (POPSK), you will be directed to the “Pay and Schedule Appointment” step. Now, as you have seen the different passport renewal fee after expiry in India for different conditions for the different age groups. For minor passports, there are two categories based on age groups i.e. ‘below 15 years ‘and ‘between 15 to 18 years’.

This marking indicates that the cheque can only be deposited into a bank account and cannot be cashed. A crossed cheque is considered to be more secure than an open cheque because it can only be deposited into the account of the payee, and it is more difficult for fraudsters to cash someone else’s cheque. Crossing of cheques are also useful when the cheque is lost or stolen, as it can only be deposited in the payee’s account.

Information is supplied upon the condition that the persons receiving the same will make their own determination as to its suitability for their purposes prior to use or in connection with the making of any decision. Neither ABCL and ABC Companies, nor their officers, employees or agents shall be liable for any loss, damage or expense arising out of any access to, use of, or reliance upon, this Website or the information, or any website linked to this Website. Aditya Birla Capital (‘the Brand’) is the single brand for financial services business of Aditya Birla Group. Aditya Birla Capital Limited is the holding company of all financial services businesses. Cheques with dates past their validity period of three months are known as stale cheques and aren’t honoured by banks.

• Any recommendation or reference of schemes of ABSLMF if any made or referred on the Website, the same is based on the standard evaluation and selection process, which would apply uniformly for all mutual fund schemes.
• Post-dated cheques are considered to be less secure than other types of cheques because they can be lost or stolen and cashed before the due date.
• Every cheque carries a unique 6-digit number inscribed on the bottom of the cheque leaf.
• It is equal to carrying cash but you can travel safely without carrying a huge amount.
• The issuer needs to put his signature on both the front and back of the cheque.

A cheque number is a unique identifier printed on each cheque leaf. You can find the cheque number by checking the first six digits at the bottom of the cheque. If your wet cheque is in good condition, you can use it to get it cashed. If the information listed on the cheque is clear, accurate, and comprehensive, then it should not be an issue to encash the wet cheque. A party, or payee, is referred to as an endorser when he or she grants another party the right to receive the money. When a cheque only has a drawer’s signature and all the other fields are left empty, then such a type of a cheque is called a blank cheque.

Danh mục: Forex Trading