Banking

How many types of cheque in bank

In Indian banking, there are several types of cheques used for various financial transactions, including:
  • Bearer Cheque: Payable to the person holding it.
  • Order Cheque: Payable only to the person named on the cheque.
  • Crossed Cheque: Amount is credited only to the payee's bank account.
  • Account Payee Cheque: A secure crossed cheque ensuring transfer to a specific account.
  • Post-Dated Cheque: Issued with a future date.
  • Stale Cheque: A cheque presented after its 3-month validity.
  • Self Cheque: Used by the account holder to withdraw cash.
  • Banker's Cheque: Issued by a bank guaranteeing payment.

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