Cheque

byPaytm Editorial TeamLast Updated: September 10, 2025

Definition

A Cheque is a written document instructing a bank to pay a specific amount of money from the account holder’s account to the person or organization named on it.

Features

  • Must be signed by the account holder.
  • Can be crossed or open depending on how it should be processed.
  • Used widely for safe and secure money transfers.

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