What Is The Difference Between Bearer And Crossed Cheque?


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Ehtisham Syed Profile
Ehtisham Syed answered
A bearer cheque is an open check (transferable cheques) which means anyone who may present it over the counter of the bank will receive the cash amounting indicated on the cheque provided the account has sufficient balance. Whereas a cross cheque can only be paid into a bank account which means the payee must have a bank account into which the money can be transfered and NOT over the counter..

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