What is bearer cheque

A bearer cheque is a financial instrument payable to anyone who physically holds and presents it at the bank. It is identified by the words or bearer on the cheque, indicating that it does not require a specific named payee or endorsement for encashment. Key features include:

• High Liquidity: It can be easily transferred from one person to another simply by handing it over.
• Immediate Payment: The bearer can receive cash over the counter without providing identity proof for smaller amounts.
• Validity: In India, it remains valid for three months from the date of issue.