In India, there are several types of cheques used for different financial purposes, primarily categorized based on their security and payment method. The most common types include:
- Bearer Cheque: Payable to anyone presenting it at the bank counter.
- Order Cheque: Payable only to the specific person or entity named.
- Crossed Cheque: Marked with two parallel lines to ensure payment is only made via a bank account.
- Account Payee Cheque: A secure crossed cheque deposited only into the named payee's account.
- Post-Dated Cheque: Dated for a future date.
- Self Cheque: Used to withdraw cash for oneself.
- Banker’s Cheque: Issued and guaranteed by the bank.
- Stale Cheque: A cheque past its three-month validity.