Banking

What are the types of cheque

In India, several types of cheques are used for various banking needs. The most common types include:
  • Bearer Cheque: Payable to anyone who presents it at the bank counter.
  • Order Cheque: Payable only to the specific person named on the cheque.
  • Crossed Cheque: Marked with two parallel lines, ensuring the amount is credited only to a bank account.
  • Account Payee Cheque: A more secure crossed cheque payable only to the named recipient's account.
  • Post-Dated Cheque: Bears a future date and cannot be cashed before that date.
  • Self Cheque: Used by the account holder to withdraw cash for themselves.
  • Stale Cheque: A cheque presented after its three-month validity period.

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