For example ram has a savings account in hdfc bank. Here are different types of cheque which you may come across. Different types of cheques in the indian financial system. What is a cheque definition, types of cheques and features. The person writing the cheque, the drawer, usually has an account where their money was previously deposited.
If you have a savings bank account or current account in a bank, you can issue a cheque in your own name or in favor of others, thereby directing. This post will provide you information about various types of cheques. Cheque have become important part of the bank where large and bulk transactions for the industries and institutions takes place through cheques. An order cheque can be paid to the named payee across the banks account if so presented. Cheque types pdf download short note for ibps, bba, mba, llb. Bank deposits consist of money placed into banking institutions for safekeeping. This cheque can be cashed at the drawee bank s cash counter. Types of cheques pdf file download link provided below. Crossing of cheque crossing of cheque and its different. Cheque is an important negotiable instrument which can be.
Uncrossed cheque open cheque may be a bearer cheque or an order cheque. It very important for banking awareness that comes in various competitive exams like bank po ssc etc. Such cheque is payable by the drawee bank over the counter to the bearer or presenter of the cheque. This type of issuing a cheque is also called bearer type cheque also known as open cheque or uncrossed cheque. So we are gonna make you clearly understand the topic so that you will not have any doubts in the near future. The issued cheque turns stale after the completion of three months. In 1830 the bank of england introduced books of 50, 100, and 200 forms and counterparts, bound or stitched. Find out how we deal with complaints about cheques and bankers drafts. A cheque which is payable to a particular person or his order is called an order cheque. The cheque is negotiable from the date of issue to three months. A cheque must be drawn upon a specified bank drawee frequently asked in exam a cheque must have the name of the recipient of the cheque. The drawer writes the various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the drawee, to pay that person or company the.
We look at joshs complaint when his bank wrongly bounced a cheque he sent to one of his main suppliers. In this video i am explaining cheques and it types in detail. It has to be revalidated before presenting to the bank. In this article, we will discussing about one of the widely used negotiable instrument cheque and will also discuss the different types of it. The recipient of the cheque is known as payee frequently asked in exam cheque types. Types of cheque pdf download banking awareness gk babaji. These deposits are made to deposit accounts such as savings accounts. A cheque is called bearer cheque when the bearer written on the right of the cheque is not canceled or marked. Learn about the cheque, purpose it serves and types of cheques used in banking system of india like bearer cheque, self cheque etc.
Such cheques are issued by the bank itself and gaurantees a payment. The cheque can be cashed at a bank branch without requiring any official. These types of cheques normally used for a cash transaction. A cheque is a document that orders a payment of money from a bank account. Bearer cheques are the cheques which withdrawn to the cheques owner. A cheque, or check is a document that orders a bank to pay a specific amount of money from a.1490 920 1111 212 1276 704 824 57 190 1365 422 220 1542 185 704 900 682 1462 742 728 1307 338 335 1060 1225 1175 999 1583 1359 1339 304 486 1108 408 18 335 1348 645 72 1189 1175 1168 1197 1356 1442