Banking

What are the different types of cheques

In India, several types of cheques are used for financial transactions:
  • Bearer Cheque: Payable to whoever carries it to the bank.
  • Order Cheque: Payable only to the specific person named on it.
  • Crossed Cheque: Marked with two parallel lines, ensuring the amount is credited only to a bank account.
  • Account Payee Cheque: A secure crossed cheque payable only to the specified payee's account.
  • Post-Dated Cheque: Issued with a future date.
  • Stale Cheque: A cheque presented after its three-month validity period.
  • Self Cheque: Used by the account holder to withdraw cash for themselves.

Related Questions