Banking

How many types of cheques are there

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.

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