What Are Different Types Of Cheques?


6 Answers

Frances Bott Profile
Frances Bott answered
There are multiple types of cheques, each of which satisfies a different area of finance. Open cheques are payable at the counter of the drawee bank, as long as there is presentation of the cheque. Secondly, there's the cross cheque. This cheque is payable only through a collecting banker, and is not directly cashed at the counter of the bank. The process of crossing ensures the security of the holder of the cheque, as only the banker collecting the cheque actually credits the proceeds to the account of the payee of the cheque. Another form of cheque is a Bearer cheque. This cheque is payable to anyone who possesses the document, if it is named to someone. For example, this would be the case if the cheque does not state a payee (person to be paid), or is payable to "bearer" or to "cash" or "to the order of cash", or if the cheque is payable to someone who is not a person or legal entity, specifically if the cheque is to signify an event, like a present of money for a birthday. This check might be transferred by delivery and needs no approval. An Order cheque is payable only to the named payee or his or her endorsee, as it usually contains the language "Pay to the order of (name). Other types of cheques include: Self cheques, Banker's cheques, Local cheques, Outstation cheques, Post-dated cheques and Drafts.
Da Profile
Da answered
Different types of cheques

order cheques
bearer cheques
stale cheques
post-dated cheques
marked cheques
bank draft or demand draft
MICR cheques / draft
Anonymous Profile
Anonymous answered
1. An order check
2. Usage of Cheques
3. Dishonored cheques
4. Open Cheque
5. Crossing of Cheques
6. General Crossing
7. Special Crossing
Ellie Hoe Profile
Ellie Hoe answered
There are various different types of cheques and these are:

Open cheque: Cheques which are paid across the counter of the bank. Cross Cheque is credited to the bank account of the payee. Another form of cheque is bearer Cheque which might be transferred by delivery and needs no approval. Order Cheque is a cheque which is enchased by a particular person. Other types of cheques include: Self Cheque, Banker's Cheque, Local Cheque, Outstation Cheque, Post dated Cheques and Drafts

amber Jhon Profile
amber Jhon answered
Cheque or Check in American English is a financial instrument or a negotiable instrument and it tells about the a specific amount which a person is liable to pay to another person. There are basically four types of cheques which include bearer cheque, order cheque, crossed cheque and open cheque. A bearer cheque is the one which is payable to an individual who is in the possession of the document. Order Check specifically tells about the person to whom it is supposed to be paid. Open cheque can be given to the banker and it is paid by them over counter. The last type of cheque is the crossed cheque which is also cashed from the drawer bank. It can be further categorized into two types including general crossing and special crossing.

Types of cheques

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